Higher Margin Ornamental and Floral Shipments Expected to Positively Impact Company’s Overall Margins
BELVIDERE, NJ — 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, 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 hanging baskets and accent greens.
Mr. Jim Kras, Chief Executive Officer of Edible Garden, commented, “We are delighted to have begun shipping spring ornamentals from our Edible Garden Heartland facility to major big box retailers as we lead up to Mother’s Day, one of the biggest days of the year in the floral industry. Implementing proprietary technologies, including the patented GreenThumb greenhouse management system that increases our supply chain’s efficiency, along with our adoption of cutting-edge growing methods, has been instrumental in the Company expanding the ornamental and floral business from this facility. We expect that the expansion of this segment of our business will have a positive impact on the Company’s overall margins as ornamentals and florals are typically higher-margin products than some of the other products we produce.”
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 offers a line of sustainable food flavoring products such as Pulp gourmet sauces and chili-based products. 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 financial performance, the Company’s expansion into new distribution networks, and performance as a public company. The words “expect,” “objective,” “seek,” “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. 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.
