Edible Garden Receives US Patent No. 11,830,088 B2 for GreenThumb Greenhouse Agriculture System
- Edible Garden AG Incorporated has received its third patent for the GreenThumb system, highlighting the company's commitment to innovation and sustainability.
- The GreenThumb system is instrumental in improving supply chain effectiveness, leading to increased shipping and fill rates, as well as significant sales growth.
- The patented system supports the integration of new greenhouse facilities like Edible Garden Heartland in Grand Rapids, Michigan, demonstrating the company's expansion and growth efforts.
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Insights
The issuance of a new patent to Edible Garden AG Incorporated for its GreenThumb Greenhouse Agriculture System represents a strategic enhancement in the company's intellectual property portfolio. From a market research perspective, this development is poised to provide Edible Garden with a competitive edge in the controlled environment agriculture (CEA) sector. The proprietary system's ability to optimize greenhouse farming operations through advanced sensors and a learning engine can lead to increased efficiency and reduced costs.
Furthermore, the system's predictive capabilities for market demand could result in better inventory management and reduced waste, aligning with consumer trends favoring sustainability. This innovation may also contribute to improved shipping and fill rates, which are critical metrics for retailer satisfaction and can influence the company's market share. As such, stakeholders can anticipate potential sales growth and market expansion, particularly as the company integrates new facilities like Edible Garden Heartland.
The integration of advanced sensors and a proprietary learning engine within Edible Garden's GreenThumb system underscores the rapid technological advancements in the agricultural sector. By leveraging data analytics for predictive demand planning, Edible Garden is at the forefront of a shift towards precision agriculture. This shift is characterized by the use of technology to make farming more accurate and controlled, which can lead to higher yields and better quality produce.
The awarded patent also reflects the importance of innovation in securing intellectual property rights, which can protect the company's investments in research and development. As other players in the CEA space look to innovate, Edible Garden's patent portfolio could deter direct competition and potentially open up licensing opportunities, creating additional revenue streams. This proactive approach to technology and intellectual property management is crucial for long-term sustainability in the agri-tech industry.
The financial implications of Edible Garden's newly patented GreenThumb system are multifaceted. On one hand, the system's enhanced efficiency could lead to cost savings in production, which may improve the company's gross margins. On the other hand, the capital expenditures associated with the adoption and integration of such a system across new facilities must be considered. Investors should monitor the balance between upfront investment costs and the anticipated operational savings and revenue growth.
It is also important to evaluate the potential impact on Edible Garden's stock performance. Patents are intangible assets that can increase a company's valuation. However, the market's response will likely depend on the execution of the system's rollout and the tangible financial benefits observed in subsequent quarters. The long-term value creation will hinge on the company's ability to leverage this patent to maintain technological leadership and expand its market presence in a growing industry.
Marks Third Patent on Proprietary GreenThumb Web-Based Greenhouse Management and Demand Planning System
BELVIDERE, NJ, Jan. 23, 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 announced that the U.S. Patent and Trademark Office (USPTO) has issued a patent related to its Greenhouse Agriculture System, GreenThumb.
The USPTO has issued U.S. Patent No. 11,830,088 B2, titled, “Greenhouse Agriculture System,” to Edible Garden AG Incorporated. The patent encompasses methods and systems designed for optimizing various aspects of greenhouse farming, including the planting process, the application of pesticides, and the harvesting of greenhouse crops, such as herbs. The greenhouse system is designed to incorporate the use of sensors and a proprietary learning engine. The data collected from these sensors is instrumental in forecasting the availability of the crops. Additionally, the specialized learning engine is used to gauge and predict the market demand for these greenhouse crops, drawing upon both current and historical order data. Based on this information, the system is capable of formulating and sending out detailed instructions for crop production to a greenhouse computer system, which in turn, facilitates the automated planting or harvesting of the crops.
Mr. Jim Kras, Chief Executive Officer of Edible Garden, commented, “This patent further illustrates our commitment to innovation to drive sustainability. The GreenThumb system is not only crucial for enhancing our supply chain effectiveness, which has led to increased shipping and fill rates, as well as significant sales growth, but is also vital in supporting Edible Garden as we integrate new greenhouse facilities like Edible Garden Heartland in Grand Rapids, Michigan. This marks the third distinct patent awarded for our proprietary GreenThumb system, and we are currently in the process of seeking a trademark for the system's name."
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 within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks, uncertainties and assumptions that are difficult to predict including with respect to the Company’s growth strategies, the success of implementing the GreenThumb 2.0 software, the Company’s ability to reduce its costs while meeting the needs of its customers, and performance as a public company. The words “believe,” “expect,” “aims,” “may,” “opportunity,” “potential,” “seeking,” “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, 2022. Actual results might differ materially from those explicit or implicit in the forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. 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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