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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 expanded its distribution by launching products in 28 Food Bazaar locations across New York, New Jersey, and Connecticut. CEO Jim Kras highlighted the successful pilot program at Food Bazaar and emphasized the company's strategy for growth in the Northeast, which serves over 12 million households.
Edible Garden produces organic, locally grown produce and operates advanced greenhouses in New Jersey. The company is noted for its sustainable farming practices and innovative technologies aimed at reducing environmental impact.
BELVIDERE, NJ, July 15, 2022 (GLOBE NEWSWIRE) -- Edible Garden AG Incorporated (Nasdaq: EDBL, EDBLW), a leader in controlled environment agriculture, announced CEO Jim Kras will present at the Benzinga All Access event on July 22, 2022, at 10:40 A.M. ET. The event will be broadcast live, with an archived recording available on the company's website for 90 days. Edible Garden offers locally grown organic produce through sustainable farming practices, operating in over 4,000 US stores, and continues to innovate with its GreenThumb software and eco-friendly initiatives.
Edible Garden AG Incorporated (Nasdaq: EDBL, EDBLW) announced expanded distribution of its sustainable hydro basil across over 350 locations in the Northeast through a major retailer. This move enhances the company’s geographic reach and consumer acceptance. CEO Jim Kras emphasized the significance of sustainable farming practices to address environmental challenges. Edible Garden employs innovative hydroponic methods and eco-friendly packaging to maintain product quality while minimizing waste. The firm aims to further expand its offerings with this retailer and others in the future.
Edible Garden AG has entered into a product development agreement with Nutracom to create new lines of nutraceuticals and plant proteins. This collaboration aims to leverage Nutracom's expertise in high-quality nutritional products to develop innovative offerings under the Farm to Formula® brand. With a focus on sustainability and zero waste, the new products will utilize next-generation plant ingredients. Edible Garden's established distribution network will support the rollout, targeting health-conscious consumers and enhancing the company's market position.
Edible Garden AG Incorporated (Nasdaq: EDBL, EDBLW) reported a 10.2% revenue increase to $2.7 million for Q1 2022, compared to $2.5 million in Q1 2021, reflecting growth in its customer base. However, the company faced a net loss of $2.6 million, up from $1.2 million a year prior, largely due to rising labor, packaging, and energy costs. CEO Jim Kras noted the impact of the recent IPO on future growth prospects, emphasizing the importance of local produce amid supply chain risks. The company continues to invest in operations to enhance scalability and reduce waste.
Edible Garden AG (Nasdaq: EDBL, EDBLW) announced a partnership with Hemingways to distribute its products across the Northeast, starting in over 30 stores and aiming at more than 200. This strategic move supports Edible Garden's rapid expansion within the organic produce sector, projected to reach $68.50 billion by 2028. The CEO emphasizes the importance of Hemingways' established distribution network, which aligns with the growing consumer demand for sustainable and locally sourced food products.
Edible Garden AG Incorporated (Nasdaq: EDBL, EDBLW) announced the appointment of three new independent board members on May 4, 2022: Mathew McConnell, Tracy Nazzaro, and Ryan Rogers. McConnell brings extensive experience in capital markets, Nazzaro has a financial background in greenhouse operations, and Rogers has retail experience from Target. CEO Jim Kras emphasized that their expertise will support growth strategies to position Edible Garden as a leader in controlled environment agriculture. The company focuses on sustainable practices and operates state-of-the-art greenhouses in the U.S.
Edible Garden AG Incorporated (Nasdaq: EDBL, EDBLW) has successfully closed its initial public offering of 2,930,000 shares of common stock and accompanying warrants, generating approximately $14.7 million in gross proceeds. Each share was sold with a warrant at a combined offering price of $5.00. The offering included a 45-day over-allotment option for an additional 439,500 shares and warrants, which Maxim Group LLC has partially exercised. The shares began trading on Nasdaq on May 5, 2022.
Edible Garden AG Incorporated (Nasdaq: EDBL, EDBLW) has announced the pricing of its initial public offering (IPO), offering 2,930,000 shares at $5.00 each, alongside warrants. The company aims to raise approximately $14.7 million, with plans to utilize proceeds for working capital, debt repayment, and greenhouse construction. The stock is expected to commence trading on May 5, 2022. An additional 439,500 shares may be purchased by underwriters to cover over-allotments. The IPO's closing is anticipated on May 9, 2022, subject to customary conditions.
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