Edible Garden Receives USDA Grants to Support Organic Certification Research & Development at Belvidere, New Jersey, and Grand Rapids Michigan Facilities
Rhea-AI Summary
Edible Garden (Nasdaq: EDBL) has received grants from the USDA Organic Certification Program to support organic certification costs and R&D at its Belvidere, New Jersey, and Grand Rapids, Michigan facilities. The funding, administered by the Farm Service Agency, will help offset expenses related to achieving and maintaining organic certification, as well as processing and handling certifications. The company plans to utilize these funds for new product innovation while advancing its Zero-Waste Inspired® mission in sustainable agriculture.
Positive
- Received USDA grants for organic certification support
- Funding covers certification costs at two facilities
- Grant supports R&D for new product innovation
Negative
- None.
Insights
Company’s Zero-Waste Inspired® mission aligns with USDA organic certification goals
BELVIDERE, NJ, Oct. 25, 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 Company has received grants from the United States Department of Agriculture Organic Certification Program administered by the Farm Service Agency. These funds are designated to reimburse organic producers and handlers with financial assistance to reduce the costs associated with organic certification, as well as processing/handling certifications.
Mr. Jim Kras, Chief Executive Officer of Edible Garden, commented, "We are pleased to have been awarded these grants from the USDA's Organic Certification Program, administered by the Farm Service Agency. These funds will not only help offset some of the expenses tied to achieving and maintaining our organic certification, at our facilities in Belvidere, New Jersey, and Grand Rapids, Michigan but also support our research and development efforts for new product innovation. As leaders in controlled environment agriculture, our commitment to producing local, organic, and sustainable products makes organic certification a critical asset for our business.”
“These grants further strengthen our partnership with the USDA and align seamlessly with the Company’s Zero-Waste Inspired® mission. By utilizing this funding to drive R&D for new organic offerings, we look forward to exploring new opportunities to work together, and continue to lead the way in sustainable agriculture, ensuring we make a lasting, positive contribution to the industry and the communities we serve.”
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
FAQ
What USDA grants did Edible Garden (EDBL) receive in October 2024?
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