Edible Garden Expands Production Capacity with Completion of Additional Production Line at Edible Garden Heartland Facility in Grand Rapids, Michigan
Edible Garden (Nasdaq: EDBL) has completed an additional production line at its Heartland facility in Grand Rapids, Michigan, significantly expanding its Midwest production capabilities. The expansion includes advanced processing capabilities and is expected to enhance company margins. The company has integrated its patented GreenThumb greenhouse management system and installed high-speed packing lines to improve product traceability and supply chain efficiency. This expansion aims to meet increased holiday season demand, support future growth, and reduce dependency on third-party suppliers. The company is transitioning toward higher-margin fresh produce by phasing out legacy floral operations acquired with the facility.
Edible Garden (Nasdaq: EDBL) ha completato una nuova linea di produzione presso il suo stabilimento di Heartland a Grand Rapids, Michigan, ampliando significativamente le capacità produttive nel Midwest. L'espansione include moderne capacità di lavorazione e si prevede che migliori i margini aziendali. L'azienda ha integrato il suo sistema brevettato di gestione delle serre GreenThumb e installato linee di imballaggio ad alta velocità per migliorare la tracciabilità dei prodotti e l'efficienza della catena di approvvigionamento. Questa espansione mira a soddisfare l'aumento della domanda durante la stagione festiva, supportare la crescita futura e ridurre la dipendenza dai fornitori esterni. L'azienda sta passando verso prodotti freschi a margini più elevati, eliminando gradualmente le operazioni floreali storiche acquisite con lo stabilimento.
Edible Garden (Nasdaq: EDBL) ha completado una nueva línea de producción en su instalación de Heartland en Grand Rapids, Michigan, ampliando significativamente sus capacidades de producción en el Medio Oeste. La expansión incluye capacidades de procesamiento avanzadas y se espera que mejore los márgenes de la empresa. La compañía ha integrado su sistema patentado de gestión de invernaderos GreenThumb e instalado líneas de empaquetado de alta velocidad para mejorar la trazabilidad del producto y la eficiencia de la cadena de suministro. Esta expansión tiene como objetivo satisfacer la creciente demanda durante la temporada de vacaciones, apoyar el crecimiento futuro y reducir la dependencia de proveedores externos. La empresa está transitando hacia productos frescos de mayor margen al ir eliminando gradualmente las operaciones florales heredadas adquiridas con la instalación.
Edible Garden (Nasdaq: EDBL)는 미시간주 그랜드래피드의 Heartland 시설에 추가 생산 라인을 완공하여 중서부 생산 능력을 크게 확장했습니다. 이번 확장은 고급 가공 능력을 포함하며 회사의 마진을 향상시킬 것으로 예상됩니다. 회사는 특허 받은 GreenThumb 온실 관리 시스템을 통합하고 제품 추적성과 공급망 효율성을 개선하기 위해 고속 포장 라인을 설치했습니다. 이번 확장의 목표는 증가하는 연말 연시 수요에 대응하고 미래 성장 지원 및 제3자 공급자에 대한 의존도를 줄이는 것입니다. 회사는 기존 시설을 인수하면서 얻은 플로럴 운영을 단계적으로 종료하여 더 높은 마진의 신선한 농산물로 전환하고 있습니다.
Edible Garden (Nasdaq: EDBL) a achevé une nouvelle ligne de production dans son établissement de Heartland à Grand Rapids, Michigan, ce qui permet d'élargir considérablement ses capacités de production dans le Midwest. Cette extension comprend des capacités de traitement avancées et devrait améliorer les marges de l'entreprise. La société a intégré son système de gestion de serre breveté GreenThumb et installé des lignes d'emballage haute vitesse pour améliorer la traçabilité des produits et l'efficacité de la chaîne d'approvisionnement. Cette expansion vise à répondre à l'augmentation de la demande pendant la saison des fêtes, à soutenir la croissance future et à réduire la dépendance vis-à-vis des fournisseurs tiers. L'entreprise se dirige vers des produits frais à marges plus élevées en supprimant progressivement les opérations florales anciennes acquises avec l'établissement.
Edible Garden (Nasdaq: EDBL) hat eine zusätzliche Produktionslinie in seiner Heartland-Anlage in Grand Rapids, Michigan, abgeschlossen, wodurch die Produktionskapazitäten im Mittleren Westen erheblich erweitert werden. Die Erweiterung umfasst fortschrittliche Verarbeitungsfähigkeiten und wird voraussichtlich die Unternehmensmargen verbessern. Das Unternehmen hat sein patentiertes GreenThumb Gewächshausmanagementsystem integriert und Hochgeschwindigkeits-Verpackungslinien installiert, um die Rückverfolgbarkeit der Produkte und die Effizienz der Lieferkette zu verbessern. Diese Erweiterung zielt darauf ab, der gestiegenen Nachfrage während der Feiertage gerecht zu werden, das zukünftige Wachstum zu unterstützen und die Abhängigkeit von Drittanbietern zu verringern. Das Unternehmen wandelt sich zu margenstärkeren frischen Produkten, indem es die bestehenden floralen Betriebe, die mit der Anlage erworben wurden, schrittweise ausschließt.
- Addition of new production line expected to enhance company margins
- Integration of patented GreenThumb technology improves operational efficiency
- Reduced reliance on third-party suppliers through vertical integration
- Strategic shift toward higher-margin fresh produce business
- Phasing out of existing floral operations indicates discontinuation of revenue stream
Insights
The expansion at the Grand Rapids facility represents a strategic operational improvement, but with immediate financial impact given EDBL's micro-cap status (
The transition from legacy floral operations to higher-margin produce shows strategic intent, but execution risks remain high. The GreenThumb system integration and high-speed packing lines indicate modernization efforts, though the impact on bottom-line results remains to be proven. Without specific capacity increase figures or financial projections, it's difficult to quantify the actual value this expansion brings to shareholders.
New production line increases capacity to capitalize on Holiday demand and supports future growth
BELVIDERE, NJ, Oct. 30, 2024 (GLOBE NEWSWIRE) -- Edible Garden AG Incorporated (“Edible Garden” or the “Company”) (Nasdaq: EDBL, EDBLW), a leader in controlled environment agriculture (CEA), locally grown, organic, and sustainable produce and products, today the successful completion of an additional production line at its Edible Garden Heartland facility in Grand Rapids, Michigan. This significantly boosts the facility’s capacity, adding advanced processing capabilities to support the Company’s produce and product lines.
Mr. Jim Kras, Chief Executive Officer of Edible Garden, commented, “The additional production line marks a significant expansion of our Midwest production capabilities and is expected to further enhance the Company’s margins. The new production line is an important piece of Edible Garden’s ongoing strategy to transition its offerings toward higher-margin fresh produce as evidenced by the Company’s phasing out of legacy floral operations that it acquired along with the Edible Garden Heartland facility.”
“Since acquiring the facility, we have integrated cutting-edge technologies, including our unique, patented GreenThumb greenhouse management system, which has improved the traceability of our products while also streamlining our supply chain’s efficiency. Additionally, we have installed several high-speed packing lines, enabling Edible Garden Heartland to operate at a higher capacity. The expanded capacity will enable Edible Garden to meet the rising demand for fresh, sustainably produced food during the holiday season, support future growth, and reduce our reliance on third-party suppliers. The Company continues to focus on scaling its innovative and sustainable growing practices to supply fresh produce to communities across the Midwest and beyond and believes this vertical integration is consistent with our ongoing commitment to maximizing the operating efficiency of our facilities as we forge ahead toward our goal of profitability.”
ABOUT EDIBLE GARDEN®
Edible Garden AG Incorporated is a leader in controlled environment agriculture (CEA), locally grown, organic, and sustainable produce and products backed by Zero-Waste Inspired® next generation farming. Offered at over 5,000 stores in the US, Edible Garden is disrupting the CEA and sustainability technology movement with its safety-in-farming protocols, use of sustainable packaging, patented GreenThumb software and self-watering in-store displays. The Company currently operates its own state-of-the-art greenhouses and processing facilities in Belvidere, New Jersey and Grand Rapids, Michigan, and has a network of contract growers, all strategically located near major markets in the U.S. Its proprietary GreenThumb 2.0 patented (US Nos.: US 11,158,006 B1, US 11,410,249 B2 and US 11,830, 088 B2) software optimizes growing in vertical and traditional greenhouses while seeking to reduce pollution-generating food miles. Its proprietary patented (U.S. Patent No. D1,010,365) Self-watering display is designed to increase plant shelf life and provide an enhanced in-store plant display experience. Edible Garden is also a developer of ingredients and proteins, providing an accessible line of plant and whey protein powders under the Vitamin Way® and Vitamin Whey® brands. In addition, the Company’s Kick Sports Nutrition line features premium performance products that cater to today’s health-conscious athletes. Furthermore, Edible Garden offers a line of sustainable food flavoring products such as Pulp gourmet sauces and chili-based products. For more information on Pulp products go to https://www.pulpflavors.com/. For more information on Vitamin Whey® products go to https://vitaminwhey.com/. For more information on Edible Garden go to https://ediblegardenag.com/.
Forward-Looking Statements
This press release contains forward-looking statements, including with respect to the Company’s growth strategies, the Company’s ability to improve its financial results, and performance as a public company. The words “believe,” “design,” “expect,” “intend,” “objective,” “seek,” “strategy,” “will,” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to a number of risks, uncertainties, and assumptions, including market and other conditions, the Company’s ability to achieve its growth objectives, and other factors set forth in the Company’s filings with the Securities and Exchange Act Commission, including the Company’s annual report on Form 10-K for the year ended December 31, 2023 and subsequent quarterly reports. Actual results might differ materially from those explicit or implicit in the forward-looking statements. The Company undertakes no obligation to update any such forward-looking statements after the date hereof to conform to actual results or changes in expectations, except as required by law.
Investor Contacts:
Crescendo Communications, LLC
212-671-1020
EDBL@crescendo-ir.com
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