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Edible Garden AG Inc is a next-generation controlled environment agriculture farming company. It uses traditional agricultural growing techniques together with technology to grow fresh, organic food, sustainably and safely while improving traceability. The company uses the controlled environment of traditional greenhouse structures, such as glass greenhouses, together with hydroponic and vertical greenhouses to sustainably grow organic herbs and lettuces.
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 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 Edible Garden go to https://ediblegardenag.com/.
Edible Garden AG Incorporated (Nasdaq: EDBL, EDBLW) has provided a comprehensive update on its initiatives to enhance food safety and sustainability in controlled environment agriculture. CEO Jim Kras emphasized the importance of food safety amid rising consumer concerns and outlined Edible Garden's commitment to using the safest standards in production. The company is actively involved with The Global Food Safety Initiative and has developed innovative solutions like the GreenThumb software to monitor plant health and traceability. Furthermore, Edible Garden is partnering with the New Jersey Institute of Technology and USDA on an EPA-funded study to explore nanobubble technology's effectiveness in reducing pathogens in agriculture. Through these efforts, the company aims to advance food safety and sustainability while enhancing product quality in its offerings, which are available at over 4,000 stores across the U.S.
Edible Garden AG Incorporated (Nasdaq: EDBL, EDBLW) announced the launch of Edible Garden Heartland, a new AgTech facility in Grand Rapids, Michigan. This facility focuses on sustainable, locally sourced produce, marking a significant expansion in the Company’s capabilities. The facility aims to produce fresh, USDA Organic produce while also serving as a research and development center for plant-based proteins and nutraceuticals. The anticipated capacity of the facility could generate up to $20 million in annual revenue, allowing the Company to bring production in-house, thereby improving profit margins. The initiative aligns with Edible Garden's Zero-Waste Inspired® mission through reduced food miles and CO2 emissions. The facility is expected to create nearly 100 new jobs in the local community.
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.
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