Welcome to our dedicated page for Edible Garden Incorporated news (Ticker: EDBL), a resource for investors and traders seeking the latest updates and insights on Edible Garden Incorporated stock.
Edible Garden AG Incorporated (EDBL) is a pioneering force in the field of controlled environment agriculture (CEA). Utilizing both traditional and advanced agricultural techniques, the company focuses on growing fresh, organic food sustainably and safely, while enhancing traceability. Headquartered in Belvidere, New Jersey, and Grand Rapids, Michigan, Edible Garden operates state-of-the-art greenhouses and processing facilities.
The company stands out with its Zero-Waste Inspired® next-generation farming approach, which emphasizes sustainability and safety. Edible Garden's products are available in over 5,000 stores across the United States, making it a significant player in the CEA and sustainability technology sector. The company employs patented technologies like the GreenThumb 2.0 software (US Nos.: US 11,158,006 B1, US 11,410,249 B2, and US 11,830,088 B2) for optimizing growth in vertical and traditional greenhouses, as well as a self-watering display (U.S. Patent No. D1,010,365) designed to increase plant shelf life and enhance in-store display.
Edible Garden is not just about growing food; it is also a developer of plant and whey protein powders under the Vitamin Way® and Vitamin Whey® brands. Additionally, the company offers a line of sustainable food flavoring products, including Pulp gourmet sauces and chili-based products.
The company's commitment to reducing pollution-generating food miles is evident in its strategic network of contract growers located near major U.S. markets. This ensures that their organic herbs and lettuces, grown in controlled environments like hydroponic and vertical greenhouses, are always fresh and local.
Edible Garden's innovative approach and robust safety protocols have not only earned it a dedicated customer base but also positioned it as a disruptor in the CEA and sustainability technology landscape. For more information, visit Edible Garden AG.
Edible Garden AG Incorporated has appointed Pamela DonAroma to its Board of Directors, effective April 4, 2023, replacing Deborah Pawloski. DonAroma, the Founder and CEO of Futures Inc., will serve on the Audit, Compensation, and Nominating and Governance Committees. She brings extensive experience in human resource management and inclusion advocacy, holding a Master of Science in Management and Technology, and has a certification as a 'Master Gardener.' CEO Jim Kras expressed enthusiasm about her leadership, emphasizing alignment with the company's commitment to sustainability and local sourcing. DonAroma noted the company's growth and the appeal of its Zero Waste Inspired mission despite market challenges.
Edible Garden AG Incorporated (Nasdaq: EDBL, EDBLW) announced the successful certification of its Heartland greenhouse facility in Grand Rapids, Michigan, by both the USDA and PrimusGFS. The facility achieved USDA Organic Certification and multiple PrimusGFS certifications, enhancing its reputation for food safety. This development is expected to bolster the company's Midwest distribution network, particularly with major clients like Meijer. The facility is set to enhance capacity and introduce new technologies, such as the Green Thumb 2.0 system, aimed at optimizing greenhouse management.
Edible Garden AG reported its third consecutive quarter of year-over-year revenue growth, achieving 9.9% growth with $3.1 million in Q4 2022 revenue. The company anticipates becoming cash flow positive in 2023 due to prudent capital deployment and market penetration. Notably, it added retail partnerships across key U.S. regions and launched new sustainable products, including salad kits and the Pulp® sauce line. Despite increased costs from inflation and labor, the company remains focused on maximizing yields and nutritional value through innovative technology. The annual net loss totaled $12.5 million, representing a significant increase from the previous year.
Edible Garden AG Incorporated (Nasdaq: EDBL, EDBLW) announced a conference call scheduled for March 22, 2023, at 11:00 AM ET. This call aims to discuss the financial results for the quarter ending December 31, 2022, and to provide a business update. Interested parties can join the call via telephone or webcast. Edible Garden is recognized for its leadership in controlled environment agriculture and organic produce, with its products available in over 4,000 stores across the U.S. The company emphasizes sustainability through innovative farming practices and technology, including its proprietary GreenThumb software.
Edible Garden AG Incorporated (Nasdaq: EDBL, EDBLW) announced the launch of its new line of Pulp sustainable gourmet sauces and chili-based products at Whole Foods Market locations across the Mid-Atlantic and Southeastern regions, starting summer 2023. CEO Jim Kras emphasized that this expansion into a new product category aims for higher margins and increased brand visibility, as the products will be featured in the refrigerated section next to their existing offerings. This partnership signifies a notable enhancement of Edible Garden’s distribution network, strengthening its presence in the organic produce market.
Edible Garden AG Incorporated has been recognized as a FoodTech 500 company by Forward Fooding, ranking among the top 100 out of over 2,000 global entrants based on business size, digital footprint, and sustainability practices. CEO Jim Kras emphasized the achievement as a testament to their Zero-Waste Inspired initiatives and advanced technologies, including patented GreenThumb software and self-watering displays. The company aims to improve yields, reduce waste, and optimize costs in the AgriFoodTech sector. Edible Garden operates state-of-the-art greenhouses and offers a variety of sustainable and organic products.
Edible Garden AG Incorporated (Nasdaq: EDBL, EDBLW) announces its debut in the global sauces and condiments market with its new line of Pulp sustainable gourmet sauces. These products will be showcased at National Products EXPO WEST® 2023 in Anaheim, California, from March 8-10. The sauces are USDA Organic and made from non-GMO, preservative-free ingredients. CEO Jim Kras highlighted the market potential, expecting the global sauces market to grow from $172.79 billion in 2021 to $240.7 billion by 2028. The Pulp line aims to leverage existing retail relationships and offer higher-margin products positioned adjacent to the produce section.
On February 15, 2023, Edible Garden AG Incorporated (Nasdaq: EDBL, EDBLW) announced that it has regained compliance with Nasdaq's minimum stockholders’ equity requirement and other listing criteria. This notice was received on February 10, 2023, reflecting the Company’s improved financial standing. CEO Jim Kras emphasized the importance of the Nasdaq listing for the Company’s credibility and visibility, and expressed intentions to expand its retail presence across the U.S. Edible Garden specializes in controlled environment agriculture, offering sustainable, locally grown produce through over 4,000 stores nationwide.
Edible Garden AG Incorporated (Nasdaq: EDBL, EDBLW) announced a research partnership with the New Jersey Institute of Technology, USDA, and EPA funded by the EPA’s Pollution Prevention Program. The focus is on nanobubble technology and its impact on plant growth in controlled environment agriculture. The research aims to demonstrate nanobubble technology's benefits in indoor farming, including improved plant health, reduced water usage, and enhanced nutrient efficiency. Edible Garden's Zero-Waste Inspired® philosophy complements these efforts, potentially leading to more nutritious produce with longer shelf life.
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