Edible Garden AG Incorporated has announced the launch of Edible Garden Heartland, a multifaceted AgTech facility in Grand Rapids, Michigan. The company is a leader in controlled environment agriculture, providing locally grown, organic, and sustainable produce and products. The launch of this new facility holds excellent potential for positively impacting the company’s margins and advancing them toward their goal of turning cash flow positive later this year.
The new facility’s expanded growing capacity is one of its main advantages. Consequently, the company can bring products previously contracted out to outside companies in-house, boosting its profit margins. Additionally, the facility can manage annual revenue of up to $20 million.
The introduction of Edible Garden Heartland also offers the option to vertically integrate the business’s manufacturing capabilities with Pulp, their new line of sustainably produced gourmet sauces and chili-based goods. Starting this summer, these goods will be sold in Whole Foods stores in the Mid-Atlantic and Southeast areas.
The company believes it will be able to meet the needs of its largest Midwest client, Meijer, and other significant big-box retailers in the area who are interested in strengthening their relationships with the business by strategically positioning themselves in Grand Rapids.
The firm remains dedicated to its Simply Local, Simply Fresh® strategy when distributing products to clients sustainably and responsibly. “The launch of Edible Garden Heartland is a significant milestone for Edible Garden, and I’m extremely proud to have played a part in it,” said Mike Sudbury, the general manager of Edible Garden who will be in charge of the Grand Rapids site. “Our primary objective is to keep as many present jobs as possible. Still, we’re also pleased about the possibility of developing future employment prospects for the area, which may indirectly lead to creating up to 100 jobs in the Grand Rapids area.”
Image provided by Edible Garden Ag (NASDAQ:EDBL)
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