Edible Garden Announces New Grant Funding from Michigan Department of Labor and Economic Opportunity - Workforce Development Through West Michigan Works!
23 February 2024 - 1:00AM
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 announced that the Company
has received funding from the Going PRO Talent Fund, awarded by the
Michigan Department of Labor and Economic Opportunity - Workforce
Development (LEO-WD), facilitated through Michigan Works! This
funding is aimed at reimbursing employers in Western Michigan for
costs incurred in the training, development, and retention of both
existing and new employees. It supports the expansion and
enhancement of employee skills, fosters opportunities for internal
growth or promotion, and contributes to their economic progress.
All training must fill a demonstrated talent need experienced by
the Company, be short-term in nature, and lead to a credential for
a skill that is transferable and recognized by industry.
Mr. Jim Kras, Chief Executive Officer of Edible
Garden, commented, "We are pleased to have been awarded this grant
from the Michigan Department of Labor and Economic Opportunity –
Workforce Development. The grant will reimburse the Company for
training expenses for our staff at the Edible Garden Heartland
facility in Grand Rapids, Michigan, in crucial areas such as supply
chain management, transportation, and logistics. Additionally, it
will cover on-the-job training costs for new hires at the facility,
expected to fill positions like Food Safety Officer, General
Manager, and Grower. Furthermore, this training will provide added
support for the Company’s ongoing efforts to enhance supply chain
management at the Heartland facility, where we utilize our
proprietary GreenThumb greenhouse agriculture technology to enhance
supply chain efficiency which has resulted in increased shipping
and fill rates, alongside notable sales growth.”
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 patented Self-Watering display
(US No: US D1,010,365 S) enables retailers to present plants in
their prime, reducing waste and offering superior products to
consumers. 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 ability to
apply grant funds to reimburse its expenses, sales growth, and
performance as a public company. The words “expect,” “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 the factors set forth in the Company’s filings with the
Securities and Exchange Commission, including the Company’s annual
report on Form 10-K for the year ended December 31, 2022 and
subsequent quarterly reports on Form 10-Q. 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:EDBLW)
Historical Stock Chart
From Aug 2024 to Sep 2024
Edible Garden (NASDAQ:EDBLW)
Historical Stock Chart
From Sep 2023 to Sep 2024