Urban Barns Foods Announces MOU With South Korea LED Manufacturer
VANCOUVER, British Columbia, Nov. 5, 2012 (GLOBE NEWSWIRE) -- Urban Barns Foods Inc. (URBF.QB) ("Company" or " Urban Barns ") www.urbanbarnsfoods.com, is an emerging company specializing in "CUBIC FARMING" a revolutionary type of farming that dramatically increases yields of vegetables with radically diminished water consumption when compared to conventional farming. All produce is locally grown in any geographical location and climate. Urban Barns announced today that it has signed a memorandum of understanding ("MOU") with Wells Communications Inc. ("Wells") http://www.wellscom.co.kr . The purpose of the MOU is to develop and expand a framework of cooperation between Urban Barns and Wells to develop mutually beneficial programs, projects and activities using LED light fixtures.
Mr. Dan Meikleham, Chairman of Urban Barns, stated that, 'Wells is the perfect partner to supply advanced technology systems with emphases on LED lights and lighting heat controls for plant production under controlled environment agriculture ("CEA") to maximize food production using Urban Barns patent pending Cubic Farming growing methods to enable mass production of locally grown vegetables in urban locations."
Mr. Dae Woo Kim, CEO Wells Communication Inc., added, "We are very happy to enter into co-operation between Urban Barns and Wells on equal terms for developing and subsequent filing for patent protection on novel and innovative systems from successful R & D arising from our joint industry collaboration on Cubic Farming and LED grow lights."
Urban Barns plans to install Wells LED lights in the first urban growing facilities of its kind in the world using the revolutionary CUBIC FARMING method for commercial production.
About Wells Communications Inc. http://www.wellscom.co.kr
Dr. Dae Woo Kim was educated at the Korea University, has a BS in Chemistry, his career has spanned 31 years in visual and display technologies, including 15 years in LED technology. Currently Dr. Kim is the Chairman, Founder and Chief Engineer at Wells Communications. His accomplishments include the LED screen design and installations: Fremont Street Las Vegas which is the largest in the world, LG Time Square in New York, Chicago O'Hare International Airport to name a few.
About Urban Barns Foods Inc.
Urban Barns uses patent pending proprietary equipment to produce affordable 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." www.urbanbarnsfoods.com and www.cubicfarming.com are registered trademarks and Cubic Farming and Cubic Agriculture are copyright of Urban Barns Foods Inc. 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.