SOURCE: GreenGro Technologies

GreenGro Technologies

November 11, 2010 05:00 ET

GreenGro Technologies Makes First Acquisition

BUENA PARK, CA--(Marketwire - November 11, 2010) - GreenGro Technologies, Inc. (PINKSHEETS: GRNH) announced today the acquisition of Vertical Hydrogarden Inc., a Northern California based company that manufactures and sells patent pending Vertical Gardening and Cultivation equipment. Terms of the acquisition were not disclosed.

Vertical Hydrogarden Inc., led by inventor John Taylor, obtained a patent on a revolutionary system design that reduces the physical footprint of gardening and cultivating by 2/3rd while reducing energy costs and improving crop yields. After the acquisition is complete, Vertical Hydrogarden products will be integrated and sold as the first hardware product line associated with GreenGro Technologies' new product strategy.

According to John Taylor, President of Vertical Hydrogarden Inc., "We sought out an alliance with GreenGro Technologies as a way to accelerate getting our products into the marketplace. The various models of our vertical garden products, fits well into GreenGro's core business strategy towards the green agriculture sector. Our proprietary vertical wall design has demonstrated improved growth and production while conserving energy and space in real production environments." 

"GreenGro is tremendously excited that we were able to make this acquisition, which adds our first intellectual property and hardware systems suitable for produce production such as tomatoes, lettuce, cucumbers, etc., as well as supporting the explosive Medical Marijuana market sector," said James Haas, CEO of GreenGro Technologies Inc.

GreenGro Technologies will roll out several models of its new vertical gardening and cultivation system in the coming months, and announce strategic client relationships already in production with Vertical Hydrogarden products. GreenGro's product line will be sold through a newly formed distribution channel, strategic partners, and through direct sales that involve systems design, integration, and consulting services from GreenGro's staff.

About GreenGro: GreenGro Technologies is an environmentally friendly agricultural technology company dedicated to sustainable, compact growing systems for both the small home grower and commercial farmer alike.

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.

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