Greengro Technologies Inc (OTCMKTS:GRNH) a renowned provider of eco-friendly green know-how reported that it has a finalized a definitive deal on a 10-acre, $25 million hydroponic indoor farm assignment with Global Renewable Resources, LLC, Shaker Heights, Ohio, a startup specializing in renewable energy and sustainable technologies.
The deal calls for Global Renewable Resources to buy a Glass Greenhouse Franchise promoted by Greengro subsidiary firm BP Gardens, Inc. The assignment will use advanced technology and production processes from company’s newly bought subsidiary firm Biodynamics, a leading indoor CEA industry leader. Biodynamics offers Greengro clients with turnkey, off-grid, advanced, fully automated, high-tech hydroponic smart indoor vertical farms utilizing positive pressure HVAC and PV solar glass.
The Global Renewable Resources franchise comprises a turnkey greenhouse facility supported by renewable energy and advanced to yearly cultivate millions of pounds of broad large variety of pesticide-free, organic hydroponically grown fruits and vegetables. Through company’s BP Gardens franchise deal, GRR has generated 50% of the funds required and committed to close raising capital and concluding site planning on its Northeast Ohio-based facility. It is the first of four stages of an anticipated $100 million total assignment intended for the 40-acre facility in the next 4 years.
James Haas, the CEO of Greengro, reported that the firm intends to focus on engaging military veterans to manage production operations. Just 5% of the total production is set aside for contribution to Feeding America. Based in, Chicago, Feeding America is a countrywide network of hundreds of food banks leading the combat against hunger in the United States.
GRR CEO David Mays reported that Greengro’s advanced edge CEA technology suits perfectly into their business model to invest in firms that lessen carbon emissions while resulting in a higher quality product to be offered into the Midwest produce industry.