VANCOUVER, British Columbia, April 19, 2011 /PRNewswire/ -- Urban Barns Foods Inc. (URBF.OB) ("Company" or "Urban Barns"), a leading authority on sustainable development of fresh fruits and vegetables today released additional test results. The tests stemmed from the Company's planned acquisition of Non Industrial Manufacturing originally announced on March 8, 2011. This series of tests concerned power usage as compared to other forms of hydroponic growing technologies. The results lent yet further proof that Urban Barns' proprietary technology has significant economic value.
Mr. Jacob Benne, CEO of Urban Barns, stated that "We continue to exceed our own expectations. In this current round of tests we looked at power consumption and while we expected it to be lower than competing technologies, the results were markedly better than what we expected. The cost of electricity per plant grown, using an average of Canadian commercial rates, was less than a penny."
Mr. Dan Meikleham, Chairman and CFO of Urban Barns said, "We are highly conscious of the carbon footprint of our technology. These results go a long way toward a green solution to commercial scale food production. We plan to set a benchmark for environmental sustainability and be internationally recognized for high-quality agriculture methods. Our commitment is to supply food security and food traceability, while being environmentally aware.
Meikleham added, "Our vertical growing system is designed for the efficient use of water and energy. This cost-efficiency is central to our business model, enabling us to compete in major urban markets at home and abroad. Our goal is to utilize the technology to establish a number of income-based, strategically positioned food production facilities to grow food locally on a minimum carbon footprint."
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.