Edible Garden AG Inc EDBL shares are trading higher after the company put forward a new initiative for vertical integration.
The integration is aimed at the Edible Garden Heartland facility in Grand Rapids, Michigan, allowing the company to shift production of its potted herbs from contract-growers to in-house production.
The above initiative is expected to enhance Edible Garden’s margins.
“As a result of our vertical integration initiative, I am pleased to announce we are now shipping the USDA Organic potted herbs produced at our Edible Garden Heartland facility to major distribution partners in the Midwest,” said CEO Jim Kras.
“We believe this vertical integration illustrates our commitment to maximizing the operating efficiency of our facilities as we forge ahead toward our goal of profitability.”
Edible Garden offers controlled environment agriculture (CEA), locally grown, organic and sustainable produce and products backed by Zero-Waste Inspired next generation farming.
Price Action: EDBL shares are trading higher by 24.2% at $0.40 on the last check Wednesday.
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