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Wed, January 28, 2009
Tue, January 27, 2009
Valcent Products Inc.: Valcent Announces Moving VertiCrop(TM) High Density Growing Systems to Its U.K. Subsidiary
EL PASO, TEXAS--(Marketwire - Jan. 27, 2009) - Due to the continued effects of the economic downturn, Valcent Products Inc. (OTCBB:VCTPF) announced layoffs at its El Paso research site. This will leave in place a maintenance staff to manage the algae R&D facilities. The move is also part of a restructuring process put in place to conserve cash, reduce costs, and better align the business units to their target markets. This will include shifting the rollout of the VertiCropTM commercial prototype from El Paso, as announced in the Company's news release dated December 4, 2008, to the U.K. division of Valcent Products Inc., Valcent Products E.U.
Valcent Products E.U. Ltd., is currently in the final stages of negotiating an agreement with the Paignton Zoological and Botanical Gardens in the U.K. for the rollout of Europe's first VertiCropTM (high density vertical growing) implementation. The unit will be located at the zoo providing a variety of vegetables to address the specific dietary needs of many of the resident species. The VertiCropTM facility will also serve as an added visitor attraction. Paignton attracts over half a million visitors annually. Installation of the system is expected to be completed by May of 2009 and will be a feature of the 9th International Conference on Environmental Enrichment (ICEE9) - attended by zoo specialists from around the globe.
Advanced negotiations are also ongoing with interested parties in the United Arab Emirates (U.A.E) and Saudi Arabia. Valcent E.U. will also be exhibiting at International Plants Expo Middle East - IPM Dubai 2009 in March. The expo attracts 2,500 trade visitors from 50 countries with interests in plants, technology, and floriculture. Driven by the booming markets of the Gulf countries, IPM Dubai 2009 is an ideal marketing venue for VertiCropTM.
As the VertiCropTM system is ideally suited for the cultivation of high value medicinal plants and biopharmaceuticals, Valcent E.U. is continuing its research and development in this area.
Meanwhile, the company's Tomorrow GardenTM offering, a mini plant growing biome, is continuing to gain market share through distribution with high profile partners including the Eden Project, National History Museum, and Kew Gardens in London, England.
About Valcent Products Inc.:
Valcent Products Inc. (OTCBB:VCTPF) develops highly innovative consumer and industrial products and processes for global markets. A pioneer and leader in ecotechnology with its core research and development in sustainable, renewable, and intense growth of agricultural products. For more information, visit: [ www.valcent.net ] and [ www.valcent.eu ] and visit and contribute to [ www.blog.valcent.net ].
Safe Harbor for Forward Looking Statements: Except for historical information contained herein, the contents of this press release contain forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors affecting the company's operations, markets, products and prices as well as other factors addressed in the company's filings with the Securities and Exchange Commission.
CUSIP: 918881103