Terra Tech Launches 'Simple Solutions'; a 3-Part Nutrient Line, Moving Into the $7.5 Billion US Lawn and Garden Consumable Industry
IRVINE, Calif.--(BUSINESS WIRE)-- Terra Tech Corp. (OTCBB: TRTC), a leader in sustainable agricultural products, announced today that it has finished formulation and bottling of its 3-part hydroponic nutrient line, "Simple Solutions". Terra Tech's 3-part hydroponic nutrient line is made up of 3 components; Simply Central, Simply Grow and Simply Bloom. Their perfectly balanced formulations of Nitrogen, Phosphorous and Potassium take the guesswork out of gardening by allowing even the greenest growers an easy solution to plant management.
Freedonia Research estimated US packaged lawn and garden consumables demand will grow to $8.8 billion in 2016. Pesticides and fertilizers will remain the top segments, with fertilizers, seeds and growing media the fastest growing. The Western region, where Terra Tech is based, will remain by far the most significant regional market for lawn and garden consumables.
"We are extremely proud of the quality of our product and would put it up against any of the leading brands on the market today," said Peterson, CEO of Terra Tech. "Penetrating a developed market of this size is important for our growth and for creating shareholder value."
Terra Tech will be marketing and distributing it's nutrient line to specialty hydroponic retailers throughout the country beginning with it's current strategic relationships; Family Hydroponics, the nations largest hydroponic retail chain and New Jersey based Grorite Garden Super Center. Family Hydroponics which grosses more than $25 Million in annual sales operates 36 stores in 8 states and Grorite Garden Center, a 10 acre Gardening and Greenhouse Super Store, in Lincoln, New Jersey.
"We are fortunate to have cultivated such strong retail partnerships across the country," mentioned Mike Nahass, Director for Terra Tech Corp. "This gives us both a broad geographic footprint and a strong revenue base to launch new products."
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About Terra Tech:
Through its wholly-owned subsidiary GrowOp Technology, Terra Tech Corp. 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. We work closely with expert horticulturists, engineers, and plant scientists to develop and manufacture advanced proprietary products for the fast-growing urban agricultural industry as well as individual hobbyists. Large companies, small urban farmers, home enthusiasts, and traditional greenhouse growers utilize our products. Our complete product line is available at specialty retailers throughout the United States, and via our website. Terra Tech Corp. was incorporated in July 2008 in the State of Nevada; its subsidiary GrowOp Technology was founded March 2010, in Oakland, California.
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 equipment and other goods, (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 integrate GrowOp Technology Ltd. into its operations as a reporting issuer with the Securities and Exchange Commission, and (vi) 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.
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