SOURCE: GreenGro Technologies

GreenGro Technologies

April 03, 2012 11:16 ET

GreenGro Technologies Expands to Northern California

Signs Contract With Reseller Vertical Hydrogarden Inc., and Secures Option to Acquire the Company Within 12 Months

IRVINE, CA--(Marketwire - Apr 3, 2012) - GreenGro Technologies, Inc. (PINKSHEETS: GRNH) announced today the first expansion of its distribution channel by signing Northern California Retailer Vertical Hydrogarden Inc., to resell the company's products. The agreement also gives GreenGro the option to buy the Roseville, CA retail operation within 12 months.

Vertical Hydrogarden Inc.'s wholesale business and vertical wall patent was acquired by GreenGro Technologies last year. According to GreenGro President Don Smith, "We surveyed the market carefully and realized it was a smart decision to enlist the retail side of Vertical Hydrogarden to sell GreenGro products and solutions. We know the people and their capabilities to create revenue so we decided if they would make a stronger commitment, we would too."

Under the terms of the agreement, VHI will sell at least $250,000 of GreenGro products in the next year. In turn GreenGro secured the option to buy the business within 12 months for an undisclosed sum. According to John Taylor, President of Vertical Hydrogarden Inc., "We are pleased with the recent developments at GreenGro Technologies which made us comfortable making this large sales commitment to their product line. Our success will increase VHI Retail's value while increasing GreenGro's sales. Smith and the others at GreenGro understand value so they pushed for the right to buy the business and we made a deal. We sell many different product lines, but GreenGro Technologies has some unique products we cannot get anywhere else. That combined with the opportunity to leverage our work by rolling into their growing business is a deal I could not get from any other manufacturer."

"I could not be more pleased with this opportunity," said Dave Rudat, GreenGro CFO. "Don Smith has built distribution channels in several industries and we believe he has a formula that will recruit the world's top distributors, system integrators, and retailers to sell GreenGro Technologies products and solutions." Smith added, "Our goal is to help agriculture producers worldwide by delivering eco-friendly, energy and space efficient products that meet their needs. These systems are by design complicated. We must recruit the most competent and successful companies to help us achieve our goals. We'll be aggressively looking for more of these partners in the coming months."

About GreenGro: GreenGro Technologies is an agricultural technology company dedicated to providing sustainable, space and energy efficient cultivation systems worldwide. The company's patented leading edge designs are sold to industrial farming operations, specialized use, and consumers.

Disclaimer: The Company relies upon the Safe Harbor Laws of 1933, 1934 and 1995 for all public news releases. Statements, which are not historical facts, are forward-looking statements. The company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the company include, but are not limited to, government regulation; managing and maintaining growth; the effect of adverse publicity; litigation; competition; and other factors which may be identified from time to time in the company's public announcements.

Contact Information

  • Contact:
    Don Smith
    (714)248-9297, office
    (714)248-9669 fax
    7556 Garden Grove Blvd
    Westminster CA 92683
    Email Contact