NORTH ANDOVER, Mass., Sept. 25, 2013 (GLOBE NEWSWIRE) -- Urban AG Corp. (OTC:AQUM) (the "Company"), announced today that Terra Asset Management, Inc. ("TAM"), an operating unit of its wholly owned subsidiary Green Wire Enterprises, Inc., has been awarded a microwave expansion project to install 28 microwave sites and related services for a tier one carrier in the Midwest.
Microwave technology is extensively used for point-to-point telecommunications with higher frequencies that allow broad bandwidth and high data transmission rates. TAM is a leading provider of integrated network solutions for the wireless telecommunications industry, providing end-to-end communication solutions enabling carriers, service providers, and enterprise customers to deliver content to any type of user. The project is to commence this month and continue through the end of the year, with the potential of additional sites in 2014. As with the tier one microwave supplier for this project, the Company expects to be awarded additional projects from other carriers throughout the U.S.
Billy V. Ray, Jr., CEO of Urban AG Corp stated, "As microwave technology expands among tier one telecom companies due to the ever increasing demand for data transmission, we expect to see additional contracts from other carriers looking to expand their footprint and capabilities across the country. This project signifies the increase demand and opportunities that we are seeing within the sector."
Green Wire Enterprises' operating subsidiaries serve a wide customer base that includes telecom customers such as Verizon, Motorola, Alcatel-Lucent, Time Warner and general contractors serving national customers such as Wal-Mart, CVS and Gulf Marine. The subsidiaries also network and design services to a multiple of state and county government agencies, colleges and schools in the Texas market.
This news release contains forward-looking statements within the meaning of Section 37A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve risks and uncertainties. A number of factors could cause actual results to differ from those indicated in the forward-looking statements, including the Company's ability to continue to successfully market and provide its services, maintain its effectiveness and its customer base and general economic conditions. The Company undertakes no obligation to publicly update or revise forward-looking statements whether as a result of new information, future events or otherwise.