BELVIDERE, NJ, Oct. 30, 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 the successful completion of an additional production line at its Edible Garden Heartland facility in Grand Rapids, Michigan. This significantly boosts the facility’s capacity, adding advanced processing capabilities to support the Company’s produce and product lines.
Mr. Jim Kras, Chief Executive Officer of Edible Garden, commented, “The additional production line marks a significant expansion of our Midwest production capabilities and is expected to further enhance the Company’s margins. The new production line is an important piece of Edible Garden’s ongoing strategy to transition its offerings toward higher-margin fresh produce as evidenced by the Company’s phasing out of legacy floral operations that it acquired along with the Edible Garden Heartland facility.”
“Since acquiring the facility, we have integrated cutting-edge technologies, including our unique, patented GreenThumb greenhouse management system, which has improved the traceability of our products while also streamlining our supply chain’s efficiency. Additionally, we have installed several high-speed packing lines, enabling Edible Garden Heartland to operate at a higher capacity. The expanded capacity will enable Edible Garden to meet the rising demand for fresh, sustainably produced food during the holiday season, support future growth, and reduce our reliance on third-party suppliers. The Company continues to focus on scaling its innovative and sustainable growing practices to supply fresh produce to communities across the Midwest and beyond and believes this vertical integration is consistent with our ongoing commitment to maximizing the operating efficiency of our facilities as we forge ahead toward our goal of profitability.”
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
