Edible Garden Provides Update on Sustainability Initiatives Including Walmart’s Project Gigaton

Rhea-AI Summary

Edible Garden AG Incorporated updates on sustainability initiatives, including participation in Walmart’s Project Gigaton, with a focus on waste reduction and supply chain productivity. The company's 2023 Project Gigaton impact includes significant material recycling, oil conservation, and food waste avoidance. CEO Jim Kras highlights the company's commitment to sustainability and reports an 800% improvement in reducing passenger car emissions. Edible Garden is also advancing initiatives like self-watering displays, GreenThumb 2.0, nanobubble technology research, and partnerships with academic institutions.

Leading the Controlled Environment Agriculture Space with Sustainable Solutions

Company’s Zero-Waste Inspired® Mission Targets Waste Reduction and Enhanced Supply Chain Productivity

BELVIDERE, NJ, Jan. 31, 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 provided an update on its sustainability initiatives, including the Company’s participation in Walmart’s Project Gigaton - an initiative to remove 1 billion metric tons (gigatons) of emissions in the global value chain by 2030.

Edible Garden’s 2023 Project Gigaton impact has included:

• 34 metric tons of materials recycled
• 850 barrels of oil conserved
• 77 tons of food waste avoided through donation
• 10,200 gallons of gasoline saved
• 67 metric tons of virgin corrugate materials avoided

Edible Garden’s 2023 Project Gigaton Impact

Mr. Jim Kras, Chief Executive Officer of Edible Garden, stated, “It is a privilege for us to continue our involvement in Project Gigaton, an admirable initiative aimed at eliminating 1 billion metric tons of emissions from the global value chain by 2030. Our committed dedication to sustainability in the Controlled Environment Agriculture sector previously earned us the title of “Giga Guru” from Project Gigaton.”

"I am pleased to report that the Company's momentum carried forward from 2022 into 2023, with results displaying marked improvements. For example, the Company has achieved an 800% improvement in reducing passenger car emissions, largely attributed to Edible Garden's strategic approaches in co-loading orders and backhauling supplies. In total, Edible Garden’s contribution to Project Gigaton resulted in the avoidance of 115,600 metric tons of CO2 emissions in 2023. Our Zero-Waste Inspired® mission is intended to benefit both our retail partners and their customers, focusing on waste reduction and enhancing supply chain productivity, utilizing solutions such as our patented, proprietary Greenthumb™ technology. Our participation in Walmart’s Project Gigaton resonates with our sustainability aspirations and is particularly gratifying."

The Company is also advancing sustainability initiatives, such as:

• Utilizing patented self-watering displays for Edible Garden products across the distribution network to extend the freshness of potted herbs and reduce waste.
• Launch of GreenThumb 2.0, the next generation of our advanced, state-of-the-art greenhouse management system with improved automation.
• EPA-funded research partnership with the New Jersey Institute of Technology and the USDA to study the impacts of nanobubble technology in a CEA environment.
• Research study with the Auburn University Department of Horticulture regarding food safety issues and fresh produce contamination, such as listeria.
• Partnering with University of Michigan’s School of Environment & Sustainability and the University’s Erb Institute, to develop and implement initiatives that address the environmental/societal impacts of the food industry by harnessing CEA farming.

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. 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 offers a line of sustainable food flavoring products such as Pulp gourmet sauces and chili-based products. 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 overall profitability, ability to expand its distribution network and distribution relationships, and performance as a public company. The words “aim,” “believe,” “look forward,” “objective,” “plan,” “will,” “seek,” 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 and the Company’s ability to achieve its growth objectives. 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

Attachment

• Edible Garden’s 2023 Project Gigaton Impact

FAQ

What is the update provided by Edible Garden AG Incorporated?

Edible Garden AG Incorporated provided an update on its sustainability initiatives, including participation in Walmart’s Project Gigaton, with a focus on waste reduction and supply chain productivity.

What is Edible Garden's 2023 Project Gigaton impact?

The company's 2023 Project Gigaton impact includes 34 metric tons of materials recycled, 850 barrels of oil conserved, 77 tons of food waste avoided through donation, 10,200 gallons of gasoline saved, and 67 metric tons of virgin corrugate materials avoided.

Who is the CEO of Edible Garden AG Incorporated?

The CEO of Edible Garden AG Incorporated is Mr. Jim Kras.

What initiatives is Edible Garden advancing?

Edible Garden is advancing initiatives such as self-watering displays, GreenThumb 2.0, nanobubble technology research, and partnerships with academic institutions.