IFPA attendees can sample and experience
chef-inspired, grab-and-go salads utilizing Local Bounti's
sustainably and locally grown lettuces
HAMILTON, Mont., Oct. 19,
2022 /PRNewswire/ -- Local Bounti Corporation (NYSE:
LOCL, LOCL WS) ("Local Bounti" or the "Company"), a breakthrough
U.S. indoor agriculture company combining the best aspects of
vertical and greenhouse growing technologies, today announced it
will showcase its recently launched chef-inspired, grab-and-go
salads at The International Fresh Produce Association (IFPA) Global
Produce & Floral Show in Orlando,
Florida on October 27-29,
2022.
"We are excited for IFPA attendees to sample and experience our
new restaurant quality grab-and-go salads, which utilize our
innovative method of indoor farming to sustainably grow fresher and
more flavorful leafy greens," said Brian
Cook, President of Local Bounti. "We believe our Stack &
Flow Technology™ is the future of farming and the reason behind our
rapid growth into one of the largest CEA companies in the United States. With our high-tech
greenhouse facilities around the U.S., we are able to provide
consumers across the country with our superior produce varieties
and salads that are grown sustainably with sunlight, use 90% less
water and land, and last longer in your fridge."
Local Bounti's two recently launched salads focus on the
following flavor profiles to meet the needs of the increasing
number of flexitarian consumers:
- Poppy Power (240
calories) – Local Bounti's Northwest-grown Romaine Crisp and Bok Choy are topped with antioxidant-packed
cranberries and a colorful carrot and broccoli slaw. A powerful
blend of seeds—pepitas, sunflower and flax—adds a satisfying crunch
that is finished with a craveable poppy seed dressing.
- Modern Greek (230 calories) – Local Bounti's
Northwest-grown Romaine Crisp
topped with fresh tomatoes, feta, hearty quinoa, red onion, crunchy
chickpeas, and chopped olives is finished with a bright and savory
Tzatziki dressing, bringing a refreshing take on a timeless
Mediterranean classic.
IFPA attendees can visit Booth #3253 to sample Local Bounti
grab-and-go salads and to learn more about its grab-and-go salad
program, which is currently available in the Pacific Northwest with
plans to expand into the Southeast and West regions early next
year.
About Local Bounti
Local Bounti is redefining indoor farming with an innovative
method – its proprietary Stack & Flow TechnologyTM –
that significantly improves crop turns, increases output and
improves unit economics. Local Bounti operates advanced indoor
growing facilities across the United
States, servicing approximately 10,000 retail doors with its
two brands: Local Bounti® and Pete's®.
We grow healthy food utilizing a hybrid approach that integrates
the best attributes of controlled environment agriculture with
natural elements. Our sustainable growing methods are better for
the planet, using 90% less water and land than conventional farming
methods. With a mission to 'bring our farm to your kitchen in the
fewest food miles possible,' Local Bounti's food is fresher, more
nutritious, and lasts longer than traditional agriculture. To find
out more, visit localbounti.com or eatpetes.com, or
follow Local Bounti on LinkedIn for the latest news and
developments.
Forward-Looking Statements
This press release includes "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, and the "safe harbor" provisions of the United States
Private Securities Litigation Reform Act of 1995. In some cases,
you can identify these forward-looking statements by words such as
"anticipate," "approximate," "believe," "commit," "continue,"
"could," "estimate," "expect," "hope," "intend," "may," "outlook,"
"plan," "project," "potential," "should," "would," "will," and
other similar words or expressions. Forward-looking statements
reflect Local Bounti's current expectations or beliefs concerning
future events and actual events may differ materially from
historical results or current expectations. The reader is cautioned
not to place undue reliance on these forward-looking statements,
which are not a guarantee of future performance and are subject to
a number of uncertainties, risks, assumptions, and other factors,
many of which are outside the control of Local Bounti. The
forward-looking statements in this press release relate to our
future plans for salads and customer demand and expectations. The
following factors, among others, could cause actual results to
differ materially from those described in these forward-looking
statements: Local Bounti's ability to effectively integrate the
recently acquired operations of Pete's into its existing
operations; the ability of Local Bounti to retain and hire key
personnel; the uncertainty of projected financial information;
Local Bounti's increased leverage as a result of additional
indebtedness incurred in connection with the recent acquisition of
Pete's; restrictions contained in Local Bounti's debt facility
agreements with Cargill Financial Services International, Inc.;
Local Bounti's ability to repay, refinance, restructure, or extend
its indebtedness as it comes due; unknown liabilities that may be
assumed in acquisitions; Local Bounti's ability to generate
revenue; the risk that Local Bounti may never achieve or sustain
profitability; the risk that Local Bounti could fail to effectively
manage its future growth; the risk that Local Bounti will fail to
obtain additional necessary capital when needed on acceptable terms
or at all; Local Bounti's ability to build out additional
facilities; reliance on third parties for construction, delays
relating to material delivery and supply chains, and fluctuating
material prices; Local Bounti's ability to maintain its gross
margin or decrease its cost of goods sold over time; potential for
damage to or problems with Local Bounti's facilities; Local
Bounti's ability to attract and retain qualified employees; Local
Bounti's ability to develop and maintain its brand or brands it may
acquire; Local Bounti's ability to maintain its company culture or
focus on its vision as it grows; Local Bounti's ability to execute
on its growth strategy; the risks of diseases and pests destroying
crops; Local Bounti's ability to compete successfully in the highly
competitive natural food market; Local Bounti's ability to defend
itself against intellectual property infringement claims; changes
in consumer preferences, perception, and spending habits in the
food industry; seasonality; Local Bounti's ability to achieve its
sustainability goals; and other risks and uncertainties indicated
from time to time, including those under "Risk Factors" and
"Forward-Looking Statements" in Local Bounti's Annual Report on
Form 10-K for the year ended December 31,
2021, filed with the SEC on March 30,
2022, as supplemented by subsequent Quarterly Reports on
Form 10-Q and Annual Reports on Form 10-K, and other reports and
documents Local Bounti files from time to time with the SEC. Local
Bounti cautions that the foregoing list of factors is not exclusive
and cautions readers not to place undue reliance upon any
forward-looking statements, which speak only as of the date hereof.
Local Bounti does not undertake or accept any obligation or
undertaking to update or revise any forward-looking statements to
reflect any change in its expectations or any change in events,
conditions, or circumstances on which any forward-looking statement
is based.
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SOURCE Local Bounti