FusionPharm Enters Major Expansion Phase
DENVER, Aug. 27, 2012 /PRNewswire/ -- FusionPharm, Inc. (OTC: FSPM), the developer of the patent pending PharmPods™ hydroponic cultivation system, today announced that due to the worldwide attention garnered by VertiFresh LLC, the company has received multiple inquires and has begun negotiations with several potential licensees for its PharmPods technology. VertiFresh, a Denver-based urban farming company, began delivery of produce grown using PharmPods earlier this month and has been the subject of several widely distributed articles and natural products blogs. Due to the overwhelmingly positive customer response, VertiFresh is now in the process of expanding its Denver PharmPlex facility by adding 15 additional PharmPods.
"We are extremely pleased with the initial customer response VertiFresh has received and the increasing demand for locally-grown produce," said Scott Dittman, president and Chief Executive Officer of FusionPharm. "VertiFresh is proof of concept of PharmPods as a viable and valuable medium for growing premium quality produce in an urban environment. We have received inquiries from potential partners in the U.S., Europe and Latin America and are actively pursuing agreements that will hopefully mark the beginning of a major expansion phase for FusionPharm. We plan to license our PharmPods technology to a select number of hydroponic produce growers that, like VertiFresh, have that have expertise and established networks within the natural foods industry, ultimately bringing our PharmPlex concept to communities worldwide."
"We have significant experience with hydroponic growing systems and will work closely with licensed partners to validate the performance and cost attributes of our PharmPods system. We believe our PharmPods provide a unique platform for sustainable locally-grown produce production, which ultimately benefits the health conscious consumer and the environment," noted Mr. Dittman.
About FusionPharm, Inc.
FusionPharm, Inc. was organized to capitalize on opportunities present in the rapidly growing the $26 billion organic food industry. FusionPharm's primary focus is the development and deployment of the patent pending PharmPods™ advanced hydroponic cultivation systems. PharmPods are constructed from standard ISO steel shipping containers that are repurposed for use in indoor plant cultivation. Using advanced LED lighting technology, cutting edge growing media and proprietary cultivation techniques, a single forty foot PharmPod is capable of growing more produce than one full acre of traditional agriculture in less than half the time using 90% less water than traditional agriculture and no harmful pesticides or herbicides.
NOTES ABOUT FORWARD-LOOKING STATEMENTS: Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company's Securities and Exchange Commission reports and filings. Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should and similar expressions and by the context in which they are used.
Such statements are based upon current expectations of the Company and speak only as of the date made. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which they are made.
SOURCE FusionPharm, Inc.