Agtech Stock News: GreenGro Technologies (OTC PINK: GRNH) to Begin Development of New Proprietary High-Tech Vertical Indoor Farm
New Vertical Farm Will Represent Company's Launch into Multi-Billion Dollar and Rapidly Expanding Global AgTech Industry
Anaheim, California - March 3, 2022 (Newsfile Corp.) (Investorideas.com Newswire) GreenGro Technologies, Inc. (OTC PINK: GRNH), an established provider of eco-friendly green technologies for the industrial hemp and cannabis industries, today announced that it has finalized a proprietary design to develop a large scale, high-tech vertical indoor farming system that will initially produce lettuce and other leafy greens at yields of up to 50 times that of traditional agriculture using the same amount of land. The Company's design combines conventional agricultural techniques with state-of-the art Controlled-Environment Agriculture (CEA) technology to produce non-GMO, chemical and pesticide-free produce that will use significantly less water than traditional farming methods.
The Company noted that this breakthrough vertical farming technology was developed in response to the growing challenges governments around the globe are facing in being able to feed their country's respectively growing populations.
"Last year's strategic restructuring of our company into separate divisions, with their own respective divisional CEOs and profit and loss centers, further strengthened GreenGro's brand recognition and market share of the cannabis and CBD markets," said James Haas, Chairman and COO of GreenGro Technologies, Inc. "However, in light of the slowing cannabis economy, we also undertook a strategic shift in our business model away from the capital-intensive cannabis cultivation to focus on applying our experience in hydroponic greenhouses for the production of various food and produce, which is a significantly larger and growing market.
"Our new state-of-the art vertical indoor farming system will position GreenGro Technologies at the forefront of the multi-billion-dollar global AgTech industry. Our goal is to build and operate our first large-scale indoor farm for the production of lettuce and other leafy greens this fiscal year while concurrently focusing on developing our next generation indoor farms to grow produce that will include tomatoes, berries and other high in-demand produce.
"Vertical farming represents the future of controlled-environment food production globally. As the climate changes and ever-more unpredictable weather, pest, and disease pressures become commonplace, vertical farming represents an opportunity for safe and reliable food production. Vertical farming also means food is produced locally, which reduces the carbon footprint associated with transportation, reduces supply-chain costs, and reduces water consumption. It will ensure that our customers are able to enjoy a fresher product, and one that is more sustainably produced," concluded Mr. Haas.
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About GreenGro Technologies, Inc.
GreenGro Technologies, Inc. (OTC PINK: GRNH) is a vertically integrated provider of eco-friendly state-of-the-art technological solutions to the green industries. The Company is a trusted partner to the cultivation, extraction, production and retail aspects of the green market through a combination of three operating divisions: CBD Ventures, Cannabis Ventures and GenoBreeding. Each division is able to leverage the strengths of the other, creating a synergistic, efficient and highly profitable business model.
For additional information about GreenGro Technologies and its solutions, please visit https://www.facebook.com/GreengroTechnologiesInc or the Company's website at www.greengrotech.com.
(Safe Harbor Act: The Company relies upon the Safe Harbor Laws of 1933, 1934 and 1995 for all public news releases. Statements, which are not historical facts, are forward-looking statements. The company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the company's best judgment based upon current information and involve several risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the company include, but are not limited to, government regulation; managing and maintaining growth; the effect of adverse publicity; litigation; competition; and other factors which may be identified from time to time in the company's public announcements.)
Company Contact:
James Haas
Chairman and Chief Operating Officer
Phone: 714-612-4725
Public Relations Contact:
GreenGro Public Relations
Phone: 818-926-5441
More Info:
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