US: Terra Tech expands NJ operation with 5 acres of fully automated greenhouses

Terra Tech Corp is pleased to announce it has completed its purchase of 5 acres of greenhouse to be constructed in Belvidere, NJ. The new structure, which has recently arrived at the construction site, will be utilized to cultivate hydroponic produce to be sold throughout the Northeast. “The interest in locally grown produce throughout the country is increasing. The addition of 5 acres of fully automated greenhouse gives Edible Garden the ability to expand its foot print throughout the Northeast,” said Ken Vande Vrede, COO of Terra Tech.

The procurement of an additional 5 acres of greenhouse structure to be erected in New Jersey is a fundamental step in the company’s expansion plans. Terra Tech has elected to begin construction on the entire 5 acres at one time. Each acre of greenhouse has the ability to cultivate close to $2 million of produce annually. The company plans on increasing the penetration they currently have in the Northeast and have identified 12,000 retailers throughout their local market.

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 5-acre facility will allow Edible Garden to expand into additional markets as well as introduce new products to the market.

“We were able to purchase this facility out of a distressed situation which saved our company close to $1 million. The Vande Vrede’s, through their strong industry connections, procured this opportunity for Terra Tech,” said Derek Peterson, CEO of Terra Tech. “The significant savings allows us to expedite our expansion plan and construct the entire project at one time.”

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. The company anticipates the project will be completed towards the end of 2013 with the first crop to be shipped before year-end. At full production and at current prices Terra Tech expects to generate up to $10 million in revenue from the five-acre greenhouse.

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