NEWPORT BEACH, Calif., Dec. 21, 2015 /PRNewswire/ -- Terra Tech Corp (OTCQX: TRTC) ("Terra Tech") or (the "Company"), a vertically integrated cannabis-focused agriculture company, today announced that its wholly owned subsidiary, Edible Garden Corp., received the second and largest installment of a cash grant from New Jersey's Clean Energy Pay for Performance Program. The award of $213,684.00 is part of the approximately $300,000 the Company will receive from the state by April 2016 for the implementation of an energy reduction plan at its Edible Garden farm, based in Belvidere, New Jersey.
"We're constantly optimizing our Edible Garden farm through the integration of sustainable technology, such as our environmental controller that allows us to automatically control the cycle of cultivation, lighting, and monitor carbon dioxide levels," said Derek Peterson, CEO Terra Tech. "Not only is our Edible Garden produce Global Food Safety Initiative (GFSI) certified, but the significant investments we've made into our five-acre facility to increase productivity, while also decreasing our carbon footprint and energy consumption, are making a difference in reducing New Jersey's carbon footprint."
Since Terra Tech's approval for the Clean Energy Pay for Performance program in June 2015, the Company has been awarded two cash installments of the $300,000 grant from the state. The first check in the amount of $21,368.40 was received in July of 2015.
New Jersey's Clean Energy Program is a statewide program that offers financial incentives, programs and services for New Jersey residents, business owners and local governments to help reduce the State's energy usage, peak demand, as well as to transform the marketplace for the next generation of energy efficiency technologies.
About Terra Tech
Terra Tech Corp. (TRTC) through its wholly-owned subsidiary GrowOp Technology, specializes in controlled environment agricultural technologies. The company integrates best-of-breed hydroponic equipment with proprietary software and hardware to provide sustainable solutions for indoor agriculture enterprises and home practitioners. Our complete product line is available at specialty retailers throughout the United States, and via our website. Through its wholly-owned subsidiary Edible Garden, cultivates a premier brand of local and sustainably grown hydroponic produce, sold through major grocery stores such as Shoprite, Walmart, Krogers and others throughout New Jersey, New York, Delaware, Maryland, Connecticut, Pennsylvania and the Midwest. MediFarm LLC is focused on medical cannabis businesses throughout Nevada. IVXX LLC is a wholly owned subsidiary that produces medical cannabis extracted products for regulated medical cannabis dispensaries throughout California.
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For more information about Terra Tech Corp visit: http://www.terratechcorp.com/
For more information about IVXX visit: http://ivxx.com/
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For more information about Edible Garden visit: http://www.ediblegarden.com/
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Cautionary Language Concerning Forward-Looking Statements
Statements in this press release may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "anticipate", "believe", "estimate", "expect", "intend" and similar expressions, as they relate to the company or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and those risks discussed from time to time in Terra Tech Corp.'s filings with the Securities and Exchange Commission. In addition, such statements could be affected by risks and uncertainties related to Terra Tech Corp.'s (i) product demand, market and customer acceptance of its products, (ii) ability to obtain financing to expand its operations, (iii) ability to attract qualified sales representatives, (iv) competition, pricing and development difficulties, (v) ability to conduct operations if there are changes in laws, regulations and government policies related to cannabis, (vi) ability to conduct operations if disease, insects or mites affect Terra Tech Corp.'s products, and (vii) general industry and market conditions and growth rates and general economic conditions. Any forward-looking statements speak only as of the date on which they are made, and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release. Information on Terra Tech Corp.'s website does not constitute a part of this release.
Philip Carlson / Allison Monat
KCSA Strategic Communications
SOURCE Terra Tech Corp.