Edible Garden Introduces GreenThumb 2.0 Patented, Proprietary Greenhouse Management Software
19 Julho 2023 - 10:45AM
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 the launch of
GreenThumb 2.0, an enhanced version of the Company’s proprietary,
cloud-based, GreenThumb greenhouse management and demand planning
system, which provides the ability to manage goods throughout the
entire supply chain.
Mr. Jim Kras, Chief Executive Officer of Edible Garden, stated,
“I am pleased to announce the launch of GreenThumb 2.0, the next
generation of our advanced, state-of-the-art, greenhouse management
system. With an improved degree of automation, this upgraded system
offers us a substantial enhancement in dynamic forecasting
abilities, making the most efficient use of real-time data. This
more precise predictive capacity is designed to predict our
distribution partners' needs with greater precision and fine-tune
our growing plans to meet these needs, incorporating year-over-year
trends, sales velocity, and seasonality fluctuations. In addition,
GreenThumb 2.0 now features an upgraded purchase order screen,
enabling seamless integration and consolidation of all purchase
order data from Oracle's Netsuite platform. This enhancement
eliminates the need for manual data entry.”
“Another significant improvement in GreenThumb 2.0 is the
integration of a real-time inventory system that meticulously
tracks all raw materials, work-in-progress, and finished products.
This improvement will empower us to scrutinize our costs down to
the smallest detail for each component involved in plant growth. We
believe this level of detail will be valuable in managing our
expenses.”
“By closing the loop on the production cycle and incorporating
real-time data, we are able to optimize our processes, and identify
opportunities to reduce cost of goods sold. The dynamic generation
of forecasting and aggregation of purchase order data has saved
countless manhours and provided real-time transparent access to the
data for all departments. This gets us one step closer to a fully
self-learning system that can dynamically optimize the forecasting
algorithm based upon historical accuracy and identify cost of goods
sold fluctuations in real-time and make any necessary adjustments,”
commented Scott Prendergast, Chief Data Officer at Edible
Garden.
ABOUT EDIBLE GARDEN®
Edible Garden AG Incorporated is a leader in
locally grown organic leafy greens and herbs backed by Zero-Waste
Inspired® next generation farming. Offered at over 4,000 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 No’s.: US
11,158,006 B1 and US 11,410,249 B2) software optimizes growing in
vertical and traditional greenhouses while seeking to reduce
pollution-generating food miles. 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 StatementsThis
press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995
that involve risks, uncertainties and assumptions that are
difficult to predict including with respect to the Company’s growth
strategies, the success of implementing the GreenThumb 2.0
software, the Company’s ability to reduce its costs while meeting
the needs of its customers, and performance as a public company.
The words “believe,” “can,” “design,” “objective,”
“opportunity,” “potential,” “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, 2022.
Actual results might differ materially from those explicit or
implicit in the forward-looking statements. You should not rely
upon forward-looking statements as predictions of future events.
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
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