Terra Tech Corp (OTCMKTS:TRTC), a leading name in the controlled agriculture technology field, is pleased to announce that its wholly owned subsidiary Edible Garden has received clean energy grant worth $300,000. As per the reports, Edible Garden applied for Clean Energy Pay for Performance Program in New Jersey a short while ago and was accepted due to its excellent track record and sound potential.
Insights On Matter:
Edible Garden will be receiving a total sum of $300,000 spreading over nine months time. The company has already received its first cheque of amount $21,368.40 and looks forward to receiving it in the future.
What Is Clean Energy Pay for Performance Program:
The Clean Energy Pay for Performance Program of New Jersey is a statewide initiative that provides financial aid, various programs and incentives for the residents, local government and business owners in New Jersey area. The primary objective of this program is to reduce the energy consumption in the area as well as to prepare the marketplace to use the next generation of technologies focusing on energy efficiency.
Edible Garden has made a significant investment in its New Jersey facility to enhance the automation and productivity while reducing energy consumption and carbon footprint.
The senior management of Terra Tech is delighted to share this update and hopes that things will continue to fall in line in the future as well. According to Derek Peterson, Chief Executive Officer, Terra Tech, it’s great to receive this honor. The company has been focusing continuously on energy optimization since forever, and it’s wonderful to see that New Jersey has noticed this initiative.
There is a need for such programs in other states as well so that companies can be motivated to reduce energy consumption at a wide level. It will continue taking such initiatives at other locations as well to enhance energy efficiency and motivate others to do the same.