Vancouver-based Valcent Products Inc. announced yesterday it has entered into a memorandum of understanding (MOU) with PSWJ Holdings Ltd. and EasyPark to install a VertiCrop high-density vertical growing system on the top of a parkade in the city’s downtown core.
VertiCrop allows leafy green vegetables to be grown in controlled environments such as greenhouses and underutilized urban warehouses.
In addition to providing year-round access to produce, Valcent said VertiCrop requires a fraction of the land, energy, and water conventionally required to grow, prepare and distribute produce.
The MOU proposes that North America’s first VertiCrop unit be installed on the roof levels of the EasyPark parking lot at 535 Richards Street in downtown Vancouver.
The business will be operated by a new joint venture between Valcent and PSWJ.
“The proposed VertiCrop installation in the City of Vancouver showcases our ability to adapt our urban assets to meet changing market demands and promote environmental leadership,” said Mel McKinney, general manager for EasyPark.
“This long-term lease generates direct financial benefit to Vancouverites while showcasing Vancouver’s sustainability innovation.”
The MOU calls for the formal lease agreement to be completed within 90 days of yesterday’s signing.
Jennifer Harrison
@JHarrisonBIV