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Edible Garden AG Incorporated produces controlled environment agriculture products and consumer packaged goods, with Nasdaq-listed warrants trading under EDBLW. The company grows organic herbs, lettuces, wheatgrass and related fresh produce through greenhouse, hydroponic and vertical growing methods, and it markets shelf-stable and refrigerated nutrition products.
News about Edible Garden commonly covers retail distribution gains, fresh herb and produce programs, clean-label nutrition launches, sports nutrition and supplement brands, and updates to its Zero-Waste Inspired® operating model. Company announcements also discuss financial results, national and regional grocery relationships, GreenThumb software, Self-Watering in-store displays, processing and greenhouse facilities, contract grower networks, and expansion initiatives in ready-to-drink and shelf-stable CPG categories.
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.
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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.