Renergy Signs Letter Of Intent for Marketing Rights to China and Hong Kong

March 1, 2013 by  
Filed under Press Releases, Renergy Foods News

Zug, Switzerland Jan. 29, 2013. Tom Colclough today announced that Renergy AG has signed a letter of intent with ECO Energy Tech Asia Limited, a Hong Kong company, granting the exclusive marketing and manufacturing rights to China and Hong Kong.

RENERGY has designed an ETFE insulated Biodome and Vertical Growing System that allows the year-round production of fresh produce regardless of weather conditions; significantly reduces energy and input requirements; allows maximum natural and supplemental light exposure to all plants; allows oxygen to be delivered to the root area to minimize root-rot and increase plant metabolism; allows carbon dioxide to be delivered to the leaf area to increase photosynthesis; that increases plant density by up to 700%; accelerates growth rates by up to 75%; increases plant biomass by up to 80%; reduces fungicide, herbicide, and pesticide use by 100%; reduces water use by up to 98%; reduces nutrient solution use by up to 60%; and increases shelf life of harvested produce by up to 300%.

ECO Energy Asia Limited desires to obtain the exclusive Chinese and Hong Kong marketing and manufacturing rights to the ETFE insulated Biodome and Vertical Growing System. Having signed the Letter Of Intent, Eco Energy and Renergy intend to sign a License Agreement to formalize the agreement.

Peter Cheung, the President of ECO Energy Asia Limited, intends to immediately build two demonstration sites: one in Hong Kong and one in China. In addition to being demonstration sites used to sell the BioDomes and Vertical Growing System technology, these facilities will grow fruits and vegetables to supply local markets. As a result, they will show that the technology is both commercially viable and generate revenues for ECO Energy Asia Limited. Peter Cheung is very excited at the opportunity offered by the Hong Kong and Chinese markets. Furthermore, he believes “There is a significant need to grow more fruits and vegetables locally, in a smaller area, faster, and without chemicals. All of which are available in the Renergy technology.”

ECO Energy Asia Limited and Renergy Foods AG intend to sign the License Agreement within the following two weeks.