Greengro Technologies, Inc. (OTC:GRNH), a world-class provider of eco-friendly green technologies, announced today that is has signed a definitive agreement on a ten-acre, $25 million Greengro hydroponic indoor farm project with Global Renewable Resources, LLC (GRR), Shaker Heights, Ohio, a new startup specializing in sustainable technologies and renewable energy.
The agreement calls for GRR to purchase a Glass Greenhouse Franchise marketed by Greengro subsidiary BP Gardens, Inc. The project will utilize advanced technology and pr
oduction methods from Greengro’s newly acquired subsidiary Biodynamics, a premier indoor controlled environment agriculture (CEA) industry leader. Biodynamics provides Greengro customers with turnkey, fully automated, off-grid, state-of-the-art, high-tech hydroponic “smart” indoor vertical farms using positive pressure HVAC and photovoltaic (PV) solar glass.
The GRR Glass Greenhouse Franchise includes a turnkey greenhouse facility powered by renewable energy and designed to annually produce millions of pounds of a large variety of organic, pesticide-free hydroponically grown vegetables and fruits.
Through Greengro’s BP Gardens franchise agreement, GRR has raised 50 percent of the funds needed and committed to finish raising capital and completing site planning on the Northeast Ohio-based facility. This is the first of four phases of an estimated $100 million total project planned for the 40-acre facility during the next four years, according to Haas.
“The company will focus on hiring military veterans to run production operations,” stated Greengro CEO James Haas. “And five percent of the total production is earmarked for donation to Feeding America.” Based in, Chicago, Ill., Feeding America is a nationwide network of 200 food banks leading the fight against hunger in the U.S.
“Greengro’s leading edge CEA technology fits perfectly into our business model to invest in companies that reduce carbon emissions while producing a higher quality product to be sold into the Midwest produce market,” said GRR CEO David Mays.
