Business
Edible Garden Begins Shipping Spring Ornamentals Grown in the New Edible Garden Heartland Facility in Grand Rapids, Michigan
BELVIDERE, NJ, May 01, 2023 (GLOBE NEWSWIRE) -- Edible Garden AG Incorporated (“Edible Garden” or the “Company”) (Nasdaq: EDBL, EDBLW), a leader in controlled
About this update from Edible Garden Ag Incorporated
[{"type":"text","content":"BELVIDERE, NJ, May 01, 2023 (GLOBE NEWSWIRE) -- Edible Garden AG Incorporated (“Edible Garden” or the “Company”) (Nasdaq: EDBL, EDBLW), a leader in controlled environment agriculture (CEA), locally grown, organic, sustainable produce and products, today announced that it has begun shipping spring ornamentals, grown in its Edible Garden Heartland facility in Grand Rapids, Michigan. The lineup of spring ornamentals includes various-sized hanging baskets of petunias, geraniums, impatiens, begonias, dahlias, and other accent plants. Mr. Jim Kras, Chief Executive Officer of Edible Garden, commented, “We are pleased to have begun shipping spring ornamentals from our new Edible Garden Heartland facility, in time for Mother’s Day, which is arguably one of the biggest days in the floral industry. After acquiring 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 our advanced growing techniques, in line with Edible Garden’s philosophy of maximizing the Company’s available assets.” “Our new, state-of-the-art facility, which we believe is capable of handling up to $20 million in annualized revenue, provides Edible Garden with considerable additional growing capacity, some of which we are using to expand our ornamental business in the Midwest by supplying a range of ornamentals to our current customers, as well as expanding our customer base by offering ornamentals to potential customers. Given the anticipated higher-margin nature of ornamentals, we expect that our efforts to expand this business segment will positively impact the Company's overall margins and move us closer to becoming cash flow positive by year's end.” ABOUT EDIBLE GARDEN® Edible Garden AG Incorporated is a leader in locally grown organic leafy greens and herbs backed by Zero-Waste Inspired® next generation farming. Offered at over 4,000 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...