VANCOUVER, British Columbia, April 11, 2011 /PRNewswire/ -- Urban Barns Foods Inc. (URBF.OB) ("Company" or "Urban Barns"), a leading authority on sustainable development of fresh fruits and vegetables announced on March 8, 2011 that it has reached an agreement to acquire Non Industrial Manufacturing Inc. (NIM), a developer of a proprietary vertical growing system and related technologies. Today the company announced that recent test results categorically proved that NIM's growing systems can cater to large scale commercial production.
Mr. Jacob Benne, CEO of Urban Barns, stated that, "We have been conducting research and development on controlled environment agriculture systems for the past one-and-a-half years and are very pleased with the results of NIM's new growing system. Results obtained over the last four weeks show that we significantly outperform other machines and apparatus that we have tested. NIM's technology is very well suited to fulfill large scale commercial production of food."
Mr. Dan Meikleham, Chairman and CFO of Urban Barns said, "Our propriety equipment is designed specifically for large volume commercial growing. For example, according to the National Sustainable Agricultural Information Service, the average crop of leaf lettuce from a typical acre of land is approximately 193,000 plants per year (2 crop cycles). In one acre of warehouse space, NIM's indoor vertical growing technology is capable of producing more than 11 million plants, which is almost 60 times more efficient. While these results were obtained under controlled test conditions, we believe that we will be able to reproduce them under normal growing commercial operating conditions."
Mr. Meikleham added, "We look forward enthusiastically as we continue to analyze and release additional related data regarding water, energy, the CO2 footprint of traditional farming environments. However with all this exciting news we remain focused on our current objective, which is to push capabilities of our vertical growing system (designed to utilize urban warehouse environments) to its maximum commercial capability."
About Urban Barns Foods Inc.:
Urban Barns uses proprietary equipment to produce affordable fruits and vegetables in a secure and controlled indoor environment. By setting up subsidiary facilities and growing locally, Urban Barns can focus on supplying any community, irrespective of the regional climate, effectively reducing shipping times and related spoilage costs. Urban Barns has the unique ability to scale and cater to the demands of all major communities. Our commitment to our consumers is reflected through our motto, "Purely Fresh, Naturally Tasty, and Completely Healthy". Urban Barns and Urbanbarnsfoods.com are registered trademarks and the copyright of Urban Barns. All other company and product names mentioned are used only for identification purposes and may be trademarks or registered trademarks of their respective companies.
Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as "anticipate", "believe", "estimate", "expect", "intend" and similar expressions, as they relate to Urban Barns or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors such as the level of business and consumer spending, the amount of sales of Urban Barns' products, the competitive environment within the industry, the ability of Urban Barns to continue to expand its operations, the level of costs incurred in connection with Urban Barns' expansion efforts, economic conditions in the industry and the financial strength of Urban Barns' customers and suppliers. Urban Barns does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.
SOURCE Urban Barns Foods Inc.