BrightFarms Crowdfunds World's Most Productive Urban Farm

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NEW YORK, July 22, 2014 (GLOBE NEWSWIRE) -- BrightFarms, Inc., the leading urban agriculture company, today announced that it has kicked off a crowdfunding campaign to help finance the state-of-the-art greenhouse it is building in Washington, DC. At 120k square feet it will be the most productive urban farm in the world.



The campaign follows BrightFarms' announcement in June that it had signed a lease with the District of Columbia's Department of General Services for the site in Washington DC's Ward 8. Earlier this year BrightFarms entered into an agreement with the grocer Giant Food who will be the exclusive retailer in the nation's capital region of BrightFarms' year round local produce. Under that agreement, BrightFarms is responsible for financing, building and operating the greenhouse while Giant Food distributes the produce to its stores. The two companies will also work together to distribute produce from the greenhouse to local community organizations that can supply residents who otherwise lack access to fresh produce.

"Crowdfunding offers an outstanding way to let supermarket customers choose and support their local farmers," said BrightFarms CEO Paul Lightfoot. "We're humbled by the support we've already received and look forward to serving the Washington, DC community."

BrightFarms has launched its campaign on Indiegogo and its campaign page can be viewed at igg.me/at/brightfarms. The goal is to raise $50,000 within 60 days. BrightFarms plans to break ground on the greenhouse next month.

About BrightFarms

BrightFarms grows local produce, nationwide. By financing, building, and operating local greenhouse farms, BrightFarms eliminates time, distance, and costs from the food supply chain. Borrowing from the highly successful renewable energy industry, BrightFarms signs long-term purchase agreements with supermarkets that feature fixed prices and minimum volume commitments. BrightFarms' growing method uses far less land and water than conventional agriculture, and its urban locations create local green jobs and help to bring healthy, fresh produce to neighborhoods. BrightFarms' partnerships with supermarkets, cities, capital sources, and vendors allow it to develop markets and projects faster and better than any competitor. For more information, please visit www.brightfarms.com.

A photo accompanying this release is available at: http://www.globenewswire.com/newsroom/prs/?pkgid=26627

CONTACT: Toby Tiktinsky BrightFarms, Inc. 646.480.5265 ttiktinsky[at]brightfarms[dot]com

Source: BrightFarms