VetaNova Acquires 157 Acre Greenhouse Complex

Rhea-AI Summary

VetaNova has acquired a 157-acre greenhouse complex in Avondale, Colorado, aimed at establishing a solar-powered vertical growing facility. This new facility is expected to supply year-round fresh produce to local markets. The acquisition includes a 90,000 sq ft greenhouse and a 15,000 sq ft processing facility, with plans for expansion in the coming years. CEO John McKowen highlighted the cost advantages of developing in a rural area, allowing daily deliveries of fresh produce to major metropolitan areas in Colorado.

Positive

• Acquisition of 157 acres for solar-powered vertical growing facility.
• Strategic location allows for daily deliveries to major Colorado markets.
• Expected lower construction and operational costs compared to urban facilities.

Negative

• None.

AVONDALE, Colorado, June 14, 2021 (GLOBE NEWSWIRE) -- VetaNova, Inc. (Symbol VTNA: OTC Pink Current) announced today it has acquired 157 acres greenhouse complex, which will be developed into a solar powered vertical growing facility to provide year-round farm fresh fruits and vegetables to local outlets in Colorado.

The Avondale Complex currently has a 90,000 sq ft state of the art computer-controlled greenhouse with 14’ foot gutters and a 15,000 sq ft processing facility. The Company expects to build additional growing and processing capacity at the Avondale Complex over the next several years.

John McKowen, CEO of VetaNova stated, “Infrastructure and electrical costs have kept most urban growing facilities from being profitable. VetaNova can build its growing and processing facilities for one-third the cost of urban infrastructure and has significantly lower electrical costs because of large adjacent solar arrays. Our facilities are also situated in a rural area just off I-25, which enables us to make daily deliveries of locally grown farm fresh produce to all the major metropolitan areas in Colorado.”

Investor Contact:
John McKowen
Chief Executive Officer
(303) 248-6883
john@vtanva.com

Attachment

• VetaNova

FAQ

What is VetaNova's recent acquisition about?

VetaNova has acquired a 157-acre greenhouse complex to create a solar-powered vertical growing facility for year-round fresh produce in Colorado.

What are the expected benefits of the new greenhouse complex?

The new facility is expected to reduce infrastructure costs significantly and provide fresh produce to metropolitan areas in Colorado.

When was the acquisition of the Avondale Complex announced?

The acquisition was announced on June 14, 2021.

What is the significance of solar power in VetaNova's new facility?

Solar power will help lower electrical costs, making the operation more profitable compared to traditional urban growing facilities.

What is the stock symbol for VetaNova?

The stock symbol for VetaNova is VTNA.