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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 (Nasdaq: EDBL, EDBLW) announced the closing of its upsized public offering of 1,619,000 units at a price of $6.30 each, generating approximately $10.2 million in gross proceeds. Each unit consists of one share of common stock and one warrant, exercisable at the same price, expiring in five years. The offering included an option for underwriters to purchase an additional 242,850 shares and/or warrants, which has been partially exercised. The offering was executed under registration statements declared effective by the SEC on February 2, 2023.
Edible Garden AG Incorporated (Nasdaq: EDBL, EDBLW) has announced the pricing of its upsized underwritten public offering of 1,619,000 units, each consisting of one share of common stock and one warrant at $6.30 per unit. The offering aims to raise approximately $10.2 million in gross proceeds, with the warrants immediately exercisable at $6.30 and expiring in five years. An option for underwriters to purchase an additional 242,850 shares exists for over-allotments. The offering is expected to close on or about February 7, 2023, following SEC registration. Maxim Group LLC is the lead manager for this offering.
Edible Garden AG Incorporated (Nasdaq: EDBL, EDBLW) announced a 1-for-30 reverse stock split effective January 26, 2023, following stockholder approval on January 24, 2023. This move aims to meet Nasdaq's minimum bid price requirements and enhance share marketability. After the split, each shareholder's ownership percentage remains unchanged. The authorized shares will also be reduced in proportion. Jim Kras, CEO, expressed optimism that this strategic decision will positively impact the company's stock performance.
Edible Garden AG Incorporated (Nasdaq: EDBL, EDBLW) announced that its products will now be available in all 16 Morton Williams Supermarkets in the New York Metropolitan area. This expansion enhances Edible Garden's robust distribution network and highlights its commitment to providing locally grown, organic produce. CEO Jim Kras stated that the company will offer its entire product line, including herbs and lettuce, tailored to each store's needs. Morton Williams expressed enthusiasm for partnering with Edible Garden to provide high-quality, fresh food to its customers.
Edible Garden AG Incorporated (Nasdaq: EDBL, EDBLW) reported above-industry order fulfillment rates, leading to a successful 2022 holiday season. CEO Jim Kras highlighted that their fill rate surpassed 100% with a major retailer, showcasing their reliability amidst supply chain challenges. Edible Garden continues to expand its reach, offering organic produce across over 4,000 stores in the US. The company emphasizes sustainable practices and innovative logistics, with plans to introduce new food products.
Edible Garden AG Incorporated (Nasdaq: EDBL, EDBLW) has completed the first phase of its Edible Garden Heartland greenhouse in Grand Rapids, Michigan, ahead of schedule. Initial production has begun, with FDA food safety and USDA Organic certifications expected in January 2023. Phase two will introduce a seeding machine and hybrid vertical grow system to enhance production capabilities and profit margins. Additionally, a legacy floral business is generating revenue through holiday poinsettia sales, supporting the company's commitment to zero-waste and local, fresh produce.
Edible Garden AG Incorporated (Nasdaq: EDBL, EDBLW) is expanding its retail distribution by adding its products to 29 Gristedes and D’Agostino supermarkets located in Manhattan, Brooklyn, and Westchester. This strategic partnership aims to enhance product visibility and freshness through branded displays and advanced merchandising techniques. CEO Jim Kras emphasized the importance of high foot traffic in these urban locations and the company’s commitment to sustainability. Edible Garden's innovative packaging extends product shelf life, aiming to meet consumer demand while benefiting store owners.
Edible Garden AG Incorporated (NASDAQ: EDBL, EDBLW) announced a new holiday offering, the Poultry Mix, which includes potted rosemary, thyme, and sage. This product aims to simplify holiday meal preparation and will be available through major retailers like Weis Markets, King Kullen, Meijer, ShopRite, and Hannaford. The pricing is held steady to pre-inflation levels, reflecting the company's sensitivity to consumer costs. The initiative enhances distribution and aims to positively impact sales during the holiday season.
Edible Garden AG Incorporated (Nasdaq: EDBL, EDBLW) has announced the acquisition of Pulp, a company known for its sustainable gourmet sauces and chili-based products. With this strategic move, Edible Garden aims to expand its product offerings while leveraging its existing distribution network to bring these all-natural, Non-GMO sauces to a wider market. This acquisition aligns with Edible Garden's Zero-Waste Inspired® approach, focusing on sustainable practices and fresh, locally sourced ingredients. The move is expected to capitalize on the rising consumer demand for flavorful, preservative-free products.
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