Edible Garden AG (EDBL) begins shipping spring-grown ornamental plants in Grand Rapids, Michigan
Edible Garden AG Incorporated (Nasdaq: EDBL, EDBLW), The leader in controlled ecological agriculture (CEA), locally grown organic and sustainable produce and products, today announced that it has begun shipping spring ornamentals, grown at their Edible Garden Heartland facility in Grand Rapids, Michigan. The assortment of spring ornamental plants includes hanging baskets of various sizes of petunias, geraniums, impatiens, begonias, dahlias, and other plants.
Jim Krass, CEO of Edible Garden, commented: “We are excited to begin shipping spring ornamental plants from our new Edible Garden Heartland facility, just in time for Mother’s Day, which is arguably one of the biggest days in the floral industry. Following the acquisition of Edible Garden Heartland Last year, we began implementing our proprietary technologies, such as the GreenThumb greenhouse management system, which enhances supply chain efficiency, as well as leveraging advanced growth technologies, in line with Edible Garden’s philosophy of maximizing the company’s available assets.”
Our state-of-the-art new facility, which we believe is capable of handling up to $20 million in annual revenue, provides Edible Garden with significant additional growing capacity, some of which we are using to expand our Midwest ornamental business by providing a range of ornamental plants to our existing customers. In addition to expanding our customer base by offering ornamental plants to potential customers.Given the expected higher margin nature of ornamental plants, we expect our efforts to expand this business segment to positively impact the company’s gross margins and move us closer to becoming cash flow positive by the end of the year.”
ABOUT EDIBLE GARDEN®
Edible Garden AG Incorporated is a leading provider of organic, leafy greens and herbs homegrown and powered by Next Generation Zero-Waste Inspired® cultivation. Offered in more than 4,000 stores in the United States, Edible Garden disrupts the CEA movement and sustainability technology through safety protocols in cultivation, use of sustainable packaging, a patented GreenThumb program, and self-watering displays in stores. The company currently operates its own state-of-the-art greenhouses and processing facilities in Belvidere, NJ and Grand Rapids, Michigan, and has a network of contract growers, all strategically located near major markets in the United States. Grown in both vertical and conventional greenhouses with a striving to reduce pollution-generating food miles. Edible Garden is also an ingredient and protein developer, offering an accessible line of plant-based and whey protein powders under the Vitamin Way® and Vitamin Whey® brands. In addition, the company offers a range of sustainable food flavoring products such as gourmet Pulp sauces and chili-based products. For more information about Edible Garden, go to https://ediblegardenag.com/.
Forward-looking statements
This press release contains forward-looking statements, including with regard to the Company’s growth strategies, the Company’s financial performance, the Company’s expansion into new distribution networks, and performance as a public company. The words “expect,” “believe,” “expect,” “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 growth goals, and other factors set forth in the company’s filings with the Securities and Exchange Act, including the company’s annual report on Form 10- K for the year ended December 31, 2022. The Company undertakes no obligation to update any of these 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, LLC212-671-1020EDBL@crescendo-ir.com
Source: Edible Garden AG Incorporated