Well here we go then, Now you watch the flood gates open.
Now we will produce quality food locally with a VERTICROP
Oh yes watch the share price aswell.
-- 12/12/11 -- Valcent Products Inc. (OTCQB:VCTZF) ("Valcent") announced today that it has entered into a Memorandum of Understanding ("MOU") with PSWJ Holdings Ltd. ("PSWJ") and EasyPark, a Corporation that manages and operates parkades and properties owned by the City of Vancouver, to install a VertiCrop(TM) high density vertical growing system on the top-level of a parkade in the heart of the city's downtown core.
Named one of TIME Magazine's 50 Best Inventions, VertiCrop(TM) allows leafy green vegetables to be grown in controlled environments such as greenhouses and underutilized urban warehouses. In addition to providing year-round access to fresh, healthy, local produce, VertiCrop(TM) requires a fraction of the land, energy, and water conventionally required to grow, prepare and distribute produce.
The MOU proposes that North America's first VertiCrop(TM) unit be installed on the roof levels of the EasyPark parking lot at 535 Richards Street in downtown Vancouver, or a similar location. The business will be operated by a new joint venture between Valcent and PSWJ.
"We're very excited about the possibility of having North America's first VertiCrop(TM) operation installed in the progressive City of Vancouver," said Stephen Fane, CEO of Valcent Products Inc. "The way we produce food today will not satisfy global demand in the future. VertiCrop(TM) is the paradigm shift that we need in agriculture."
The City of Vancouver has set the goal of being the world's greenest city 2020 and EasyPark will provide the opportunity to showcase the VertiCrop(TM) technology and demonstrate a sustainable local food production facility.
"The proposed VertiCrop(TM) installation in the City of Vancouver showcases our ability to adapt our urban assets to meet changing market demands and promote environmental leadership," said General Manager Mel McKinney for EasyPark. "This long-term lease generates direct financial benefit to Vancouverites while showcasing Vancouver's sustainability innovation."
The MOU calls for the formal lease agreement to be completed within 90 days of today's signing.
