Belvidere, July 07, 2015 (GLOBE NEWSWIRE) -- Terra Tech’s wholly owned subsidiary Edible Garden Corp. applied for and was approved for New Jersey’s Clean Energy Pay for Performance Program. Edible Garden Corp. will be receiving a total of approximately $300,000 over the next nine months. The first check has been received in the amount of $21,368.40. 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. Edible Garden has made significant investments into their New Jersey facility to increase productivity and automation while decreasing their carbon footprint and energy consumption.
“We feel fortunate that New Jersey has programs like these available to businesses that are focused on improving our environment,” said Derek Peterson, CEO Terra Tech. “With the Nevada buildout happening the grant couldn’t have come at a better time; we just received roughly $2 million in a private placement, our Equity Line will be effective in mid July, and the grant is especially welcome as it a form of non dilutive financing for the company that we can utilize in continuing to improve our operations, efficiencies and margins.”
For more information about New Jersey’s Clean Energy Program, please visit: www.njcleanenergy.com
For more information about Terra Tech Corp, please visit: www.terratechcorp.com
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About Terra Tech
Terra Tech Corp. (TRTC) through its wholly-owned subsidiary GrowOp Technology, specializes in controlled environment agricultural technologies. The compan through its wholly-owned subsidiary, IVXX manufactures and distributes medical cannabis products throughout the California market. 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, Krogers, Walmart and others throughout New Jersey, New York, Delaware, Maryland, Connecticut, Pennsylvania and the Midwest. MediFarm LLC is focused on developing medical cannabis businesses in Nevada.
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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.