Irvine, June 5, 2013 (GLOBE NEWSWIRE) -- Terra Tech Corp (TRTC) is pleased to announce they have begun construction on their new five-acre hydroponic production facility in Belvedere, New Jersey. Terra Tech has completed grading the parcel in preparation for the assembly, beginning this month. Upon completion the facility will be a fully automated, high tech, commercial scale hydroponic center capable of producing some of the cleanest, freshest and most energy efficient produce in the Northeast. At full production and current pricing Terra Tech expects to generate up to $10 million in revenue from the five-acre greenhouse. The company anticipates finishing construction by year end 2013.
"We are excited to finally begin this project. This will be our flagship production facility and a platform for us to continue our national expansion," said Ken Vande Vrede, COO of Terra Tech.
The five-acre structure has been delivered and is currently on site awaiting assembly. Edible Garden plans on cultivating their current lineup of hydroponic and potted herbs as well as introducing several new selections of hydroponic produce including varietals of living lettuce, kale and more.
"2013 is a year of expansion for Terra Tech and the construction of this facility as well as its potential production and revenue is the backbone of that growth," explains Derek Peterson, CEO of Terra Tech. "We anticipate strong demand for our brand and are looking forward to next year when current production boosted by our new facility is operating in tandem with our new distribution contract in Florida."
Edible Garden, a premier brand of local and sustainably grown produce is available at close to 400 major grocery store chains such as Shoprite, Food Emporium and others throughout New Jersey, New York, Delaware, Maryland, Connecticut, and Pennsylvania. The new five-acre facility will allow Edible Garden to expand into additional markets as well as introduce new products to the market.
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About Terra Tech
Through its wholly-owned subsidiary GrowOp Technology, Terra Tech Corp. specializes in controlled environment agricultural technologies. The company integrates best-of-breed hydroponic equipment with proprietary software and hardware to provide sustainable solutions for indoor agriculture enterprises and home practitioners. We work closely with expert horticulturists, engineers, and plant scientists to develop and manufacture advanced proprietary products for the fast-growing urban agricultural industry as well as individual hobbyists. Large companies, small urban farmers, home enthusiasts, and traditional greenhouse growers utilize our products. Our complete product line is available at specialty retailers throughout the United States, and via our website. Terra Tech Corp. was incorporated in July 2008 in the State of Nevada; its subsidiary GrowOp Technology was founded March 2010, in Oakland, California.
Statements in this press release may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "anticipate", "believe", "estimate", "expect", "intend" and similar expressions, as they relate to the company or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and those risks discussed from time to time in Terra Tech Corp.'s filings with the Securities and Exchange Commission. In addition, such statements could be affected by risks and uncertainties related to Terra Tech Corp.'s (i) product demand, market and customer acceptance of its equipment and other goods, (ii) ability to obtain financing to expand its operations, (iii) ability to attract qualified sales representatives, (iv) competition, pricing and development difficulties, (v) ability to integrate GrowOp Technology Ltd. into its operations as a reporting issuer with the Securities and Exchange Commission, and (vi) general industry and market
CONTACT: FOR MORE INFORMATION: Media Contacts: Lindsay Wiemer Lindsay@terratechcorp.com 855-447-6967 ext 703 Investor Relations: Bill Clayton Independence Financial Ltd. Toll-Free: (888) 603-2896 Email: firstname.lastname@example.org
Source:Terra Tech Corp.