Edible Garden highlights sustainability achievements and innovations under Walmart's Project Gigaton, aiming to reduce emissions and waste.
Quiver AI Summary
Edible Garden AG Incorporated, a leader in controlled environment agriculture, has reported significant advancements in its sustainability initiatives as part of Walmart's Project Gigaton, which aims to reduce 1 billion metric tons of emissions from the global supply chain by 2030. In 2024, the company achieved notable environmental impacts, including a substantial reduction in diesel fuel demand, avoidance of virgin plastic materials, and significant food waste donation. CEO Jim Kras emphasized the company's dedication to sustainability and innovation in agriculture, highlighting its Zero-Waste Inspired® mission and proprietary technologies. Edible Garden continues to enhance its practices through strategic research collaborations and offers a range of sustainable products across more than 5,000 retail locations in the U.S.
Potential Positives
- Edible Garden is actively participating in Walmart's Project Gigaton, contributing to significant sustainability goals aimed at cutting 1 billion metric tons of emissions from the global supply chain by 2030.
- The company reported measurable sustainability impacts, including a reduction of 28,870 gallons in diesel fuel demand and 11,803 metric tons of virgin plastic materials avoided in 2024.
- Edible Garden received recognition as a 'Giga Guru', highlighting its effective contributions toward sustainability in controlled environment agriculture.
- The innovation-driven approach, exemplified by technologies like the patented Greenthumb™ technology and the custom-designed Basil Station, positions Edible Garden as a leader in environmentally responsible agriculture practices.
Potential Negatives
- The press release heavily emphasizes sustainability efforts and partnerships but lacks transparent financial data regarding the company's current performance or profitability, which may lead to investor concerns about fiscal health.
- While detailing contributions to Walmart's Project Gigaton, the release does not address any potential risks or challenges that may arise from relying on a single major partnership for significant market initiatives.
- Forward-looking statements included in the press release are vague and highlight the inherent risks and uncertainties the company faces, which may cause apprehension among stakeholders regarding the company’s future prospects.
FAQ
What is Edible Garden AG's mission?
Edible Garden AG's mission is centered around Zero-Waste Inspired® practices to enhance sustainability in agriculture.
How does Edible Garden contribute to sustainability?
Edible Garden contributes by participating in Walmart's Project Gigaton, aiming to reduce significant emissions and waste through innovative practices.
What technologies does Edible Garden use for sustainable agriculture?
Edible Garden uses patented technologies like Greenthumb™ and self-watering displays to optimize resource use and enhance plant sustainability.
Where are Edible Garden's facilities located?
Edible Garden operates state-of-the-art greenhouses and facilities in Belvidere, New Jersey, and Grand Rapids, Michigan.
How does Edible Garden reduce food waste?
Edible Garden reduces food waste through donations and innovative practices that prevent waste in their supply chain.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$EDBL Insider Trading Activity
$EDBL insiders have traded $EDBL stock on the open market 3 times in the past 6 months. Of those trades, 3 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $EDBL stock by insiders over the last 6 months:
- JAMES E. KRAS (President and CEO) has made 2 purchases buying 33,700 shares for an estimated $5,695 and 0 sales.
- MATHEW J. MCCONNELL purchased 2,013 shares for an estimated $334
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$EDBL Hedge Fund Activity
We have seen 4 institutional investors add shares of $EDBL stock to their portfolio, and 3 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- ARMISTICE CAPITAL, LLC added 370,000 shares (+inf%) to their portfolio in Q3 2024, for an estimated $98,420
- VIRTU FINANCIAL LLC added 15,390 shares (+inf%) to their portfolio in Q3 2024, for an estimated $4,093
- GEODE CAPITAL MANAGEMENT, LLC added 15,158 shares (+inf%) to their portfolio in Q3 2024, for an estimated $4,032
- MORGAN STANLEY removed 3,661 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $973
- UBS GROUP AG removed 3,189 shares (-93.8%) from their portfolio in Q3 2024, for an estimated $848
- TOWER RESEARCH CAPITAL LLC (TRC) removed 2,091 shares (-70.6%) from their portfolio in Q3 2024, for an estimated $556
- BANK OF AMERICA CORP /DE/ added 23 shares (+1150.0%) to their portfolio in Q3 2024, for an estimated $6
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
Advanced Technologies and Strategic Partnerships Accelerate Sustainable Agriculture Efforts
Zero-Waste Inspired® Mission Continues to Drive Innovation in Controlled Environment Agriculture
BELVIDERE, NJ, Jan. 30, 2025 (GLOBE NEWSWIRE) -- Edible Garden AG Incorporated (“Edible Garden” or the “Company”) (Nasdaq: EDBL, EDBLW), a leader in controlled environment agriculture (CEA), locally grown, organic, and sustainable produce and products, today shared the latest advancements in its sustainability efforts, highlighting its ongoing role in Walmart’s Project Gigaton—an ambitious initiative aimed at cutting 1 billion metric tons of emissions from the global supply chain by 2030.
Edible Garden’s 2024 Project Gigaton impact has included:
- 28,870 gallon reduction in diesel fuel demand
- 11,803 metric tons of virgin plastic materials avoided
- 687 barrels of oil conserved
- 103 tons of food waste avoided through donation
- 34 metric tons of mixed recyclables recycled
Edible Garden’s 2024 Project Gigaton Impact
Jim Kras, Chief Executive Officer of Edible Garden, commented, “We are honored to be part of Project Gigaton, a transformative initiative dedicated to cutting one billion metric tons of emissions from the global supply chain by 2030. Our unwavering commitment to sustainability in the Controlled Environment Agriculture sector has not only driven measurable impact but also earned us the distinction of ‘Giga Guru’—a recognition we take immense pride in. We remain steadfast in our mission to innovate and lead the industry toward a more sustainable future.”
"Edible Garden’s strong momentum from 2023 has continued into 2024, with measurable improvements across nearly every category assessed. Our commitment to sustainability and operational efficiency has yielded significant progress, further strengthening our impact in reducing emissions and optimizing resource use. Through our Zero-Waste Inspired® mission, we remain focused on benefiting both our retail partners and their customers by minimizing waste and enhancing supply chain productivity. Leveraging innovative solutions like our patented Greenthumb™ technology, we continue to drive meaningful environmental change. Being part of Walmart’s Project Gigaton aligns perfectly with our sustainability vision, and we are proud to contribute to such an impactful initiative."
"At Edible Garden, we remain deeply committed to advancing food safety, nanobubble technology, and sustainable growing practices through strategic research collaborations with leading institutions. By integrating innovative solutions—such as our custom-designed Basil Station, which seamlessly fits within Walmart’s existing planograms—alongside previously introduced initiatives like bio-based packaging, self-watering displays, and optimized logistics, we continue to set new benchmarks for environmentally responsible agriculture. Our goal is to empower both our retail partners and consumers to make more sustainable choices that positively impact the planet."
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/ .
Forward-Looking Statements
This press release contains forward-looking statements, including with respect to the Company’s overall profitability, ability to expand its distribution network and distribution relationships, and performance as a public company. The words “aim,” “believe,” “look forward,” “objective,” “plan,” “will,” “seek,” 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 and the Company’s ability to achieve its growth objectives. 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, LLC
212-671-1020
[email protected]
Attachment