Edible Garden and Walmart Strengthen Sustainability Efforts with Introduction of Sustainably Grown Hydro Basil
08 Octubre 2024 - 8:00AM
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 the expansion of its
distribution partnership with Walmart, which now includes the
introduction of sustainably grown Hydro Basil. To support this
addition, Edible Garden has developed a custom-designed Basil
Station display that integrates seamlessly into Walmart’s produce
sections without disrupting existing planograms.
“We are excited to deepen our partnership with
Walmart by introducing our sustainably grown Hydro Basil to select
Walmart Distribution Centers (DCs) with opportunities for further
distribution across additional DCs and U.S. locations in 2025,”
commented Jim Kras, CEO of Edible Garden. “Our Basil Station
display is designed to fit efficiently within Walmart's existing
planograms, highlights our commitment to innovation and our ability
to meet the evolving needs of our retail partners. This
collaboration reinforces our shared goal of enhancing the customer
experience with fresh, sustainable produce. Walmart, the world's
largest fresh produce retailer, has been a key partner for Edible
Garden, and our relationship extends beyond simply supplying
produce. We are proud to actively support Walmart's Project
Gigaton—a groundbreaking initiative launched in 2017 to engage
suppliers, NGOs, and other stakeholders in reducing or preventing
one billion metric tons of greenhouse gas emissions across the
global value chain by 2030. Edible Garden has also been recognized
as a Project Gigaton 'Giga Guru,' a distinction that highlights our
unwavering dedication to our Zero-Waste Inspired® mission and our
leadership in the Controlled Environment Agriculture (CEA)
sector."
“As demand for organic and sustainably grown
products continues to rise, Edible Garden is committed to providing
products that meet the expectations of both our retail partners and
today’s health-conscious consumers. With a reputation for
delivering fresh, flavorful, and environmentally friendly products,
Edible Garden is well-positioned to thrive in the growing market
for healthier, eco-conscious food alternatives. This expansion of
our partnership with Walmart marks another significant step forward
for Edible Garden in its mission to make sustainably grown,
high-quality produce more accessible to consumers nationwide.”
“Edible Garden has consistently maintained order
fulfillment rates ("fill rate") with our retail and distribution
partners that surpass industry standards, reinforcing the strength
of our existing retail relationships. Achieving this level of
performance, even amidst unprecedented supply chain disruptions,
highlights the exceptional service and operational excellence
Edible Garden delivers to its customers. By continually exceeding
the expectations of our partners, we have built trust with key
retailers like Walmart, positioning ourselves as a reliable
supplier of choice of sustainably grown produce. This trust opens
the door to further expansion of our distribution partnerships,
which we believe will positively impact our revenue growth in 2024
and beyond.”
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/. A copy of the
Company’s latest corporate video is also available here.
Forward Looking StatementsThis 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,
LLC212-671-1020EDBL@crescendo-ir.com
Edible Garden (NASDAQ:EDBL)
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