Local Bounti Corporation, a US indoor farming company, announced an offtake agreement with Sam's Club for its leafy greens production starting at its advanced greenhouse facility in Byron, Georgia.
"This exciting commercial development represents a powerful endorsement of our dedicated team that works tirelessly to deliver the highest quality locally grown produce to our customers," stated Brian Cook, President of Local Bounti.
"We will continue to pursue sound capital allocation with a keen eye on capital efficiency as we further expand our operations. Today's announcement demonstrates the advantages of our existing national relationships and how that knowledge informs the advancement of our facility network."
Local Bounti will implement its Stack & Flow Technology at the new facility in Georgia, further enhancing capacity to meet existing demand. Stack & Flow Technology, Local Bounti's proprietary method of indoor farming, combines the best aspects of vertical farming and greenhouse growing technologies to deliver higher yields of diverse leafy greens at superior unit economics.
Through this process, Local Bounti can grow to produce in an environmentally friendly manner that increases harvest efficiency and reduces the cost and carbon footprint of the production and distribution process. The technology is over 30 times more productive per acre than traditional agriculture.
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