The Growing Facility will enable NFP to grow vegetables locally that offers food security, food safety and traceability of multiple varieties of vegetables including; lettuce, basil, cilantro and spinach. Urban Barns has also granted NFP the right of first refusal on future exclusive licenses to set up additional Growing Facilities in P.E.I, New Brunswick and Nova Scotia. Under the terms of the agreement, NFP and Urban Barns will enter into a definitive licensing agreement where specific milestones, royalty rates, and technical services will be agreed to no later than August 30th, 2013.
Richard Groome, President of Urban Barns and Director of Strategic Marketing stated, "We are delighted to welcome NFP as our growing partner in Newfoundland with plans to cover the three Canadian Maritime Provinces. Groome added, "The Newfoundland Growing Facility is a step in our national coast-to-coast expansion plan on establishing Growing Facilities in key target markets including Quebec and Ontario."
Stephen W. Bruce, President and CEO of Newfoundland Fresh Produce Inc. said, "We are delighted to become an Urban Barns licensee on the East coast of Canada and bring our fellow Canadians fresh produce grown locally 12 months per year. As a Newfoundlander, it is with great pride and joy that we bring this revolutionary Cubic Farming technology to Newfoundland and Labrador to provide local grown produce of superior freshness never dreamed of before due to remote growing fields. Over 90% of the produce consumed in Newfoundland is brought in via trans-continental road transportation then by ship. With the Urban Barn's growing technology and methods, NFP will be able to supply fresh produce picked the same day, year-round and at a competitive price. This is indeed a major breakthrough in the Newfoundland food supply chain eliminating multiple thousands of "miles-to-market." Bruce added, "We plan to have the initial Growing Facility operational by the fall of 2013 starting with four Cubic Farming machines adding additional machines and new locations throughout the province to supply our customers comprising the food service and hospitality sector in addition to food retail chains."
Based on a study published in 2007 by the Department of Natural Resources of Newfoundland and Labrador, it was estimated that in 2005, less than 3% of the lettuce consumed in the province was locally produced. The same study established that the combined potential for locally-produced vegetables in the province was at over $42 million per year.
About Urban Barns Foods Inc.
Urban Barns uses patent pending proprietary equipment to produce affordable vegetables in a secure and controlled indoor environment. By setting up facilities and growing locally, Urban Barns can focus on supplying any community, irrespective of the regional climate, effectively reducing shipping times and related spoilage costs. Urban Barns has the unique ability to scale and cater to the demands of all major communities. Our commitment to our consumers is reflected through our motto, "Purely Fresh, Naturally Tasty, and Completely Healthy". Urban Barns and Urbanbarnsfoods.com and Cubic Farming are registered trademarks and the copyright of Urban Barns Foods Inc. All other company and product names mentioned are used only for identification purposes and may be trademarks or registered trademarks of their respective companies.For more info: http://www.urbanbarns.com/v7/