Eden Green Accelerates Growth to Meet Rising Market Demand
Company breaks ground on second commercial vertical greenhouse, hires Chief Financial Officer
Dallas, Oct. 10, 2023 (GLOBE NEWSWIRE) — Eden Green Technology (Eden Green), a next-generation indoor vertical farming company, today announced plans to scale commercial production to meet rising market demand. As part of this initiative, Eden Green broke ground on their $40 million Phase 2 expansion of their Cleburne campus, and welcomed Will Parkey as Chief Financial Officer to accelerate the company’s strategic growth.
“Extreme weather events, an unstable market and an ever-rising demand for fresh, affordable produce year round has created a perfect storm in our food supply chain. Eden Green was founded to solve these challenges and this next phase of growth is a critical stepping stone,” said Eddy Badrina, CEO of Eden Green. “Bringing on an executive with such deep experience in strategic growth, while simultaneously expanding our capacity, will dramatically accelerate our ability to deliver accessible, delicious produce to the average consumer.”
Eden Green is pioneering a hybrid approach to controlled environment agriculture (CEA), combining vertical farming within a greenhouse to increase yield and improve efficiency. Leveraging patented hydroponic technology, the company uses 95% less electricity than indoor farms, and is able to price lettuce at up to $2 less per head compared to its greenhouse and vertical farm competitors.
Eden Green plans to build a network of 20 greenhouses across the United States over the next five years. This month, the company broke ground on two additional greenhouses in Cleburne, TX. Both facilities are expected to open in early 2025 and create 100 new jobs in the Dallas-Fort Worth metro area. Together, the two greenhouses are expected to triple the company’s growing capacity and enable the further development of innovative technologies that improve efficiency, reduce impact and extend freshness. Once operational, Eden Green will be able to produce just under six million pounds of lettuce per year on its Cleburne campus.
Shepherding Eden Green into its next phase of growth, Will Parkey joins the company as Chief Financial Officer, where he is responsible for leading financial operations and driving the company’s strategic expansion. He brings over ten years of experience in financial management and strategic growth, having held CFO roles at Amtel, one of the largest operators of T-Mobile retail stores, and Firestone & Robertson Distilling Company, the producers of TX Whiskey and TX Bourbon. Prior to holding executive roles, Parkey worked in private equity and investment banking.
Parkey’s proven track record of positioning companies for growth includes executing five add-on acquisitions while at Amtel, growing the company’s store base from 150 to over 300 before guiding the company through a merger with the largest legacy Sprint operating partner in 2023. At Firestone & Robertson, Parkey played a critical role in growing the company until it was successfully acquired by Pernod Ricard in 2019. At Eden Green, Parkey will focus on optimizing the unit economics of the company’s existing greenhouse operations while posturing the company for expansion throughout the country.
“This is an exciting time to join Eden Green. Controlled environment agriculture is beginning to find its footing, and the market demand for sustainable, safe and affordable produce year round is only continuing to grow,” said Parkey. “Eden Green has combined proprietary technology with a unique distribution model to create a strong foundation for rapid growth within this emerging space. As the company enters this new phase, I look forward to driving strategic development and helping advance Eden Green’s incredible mission.”
Eden Green facilities are located within one mile of major retail distribution centers, enabling 48-hour delivery from greenhouse to store and a 95% reduction in transportation miles. Today, the company supplies two million pounds of produce a year to multiple retailers across the United States, including to over 400 Walmarts in Texas and Oklahoma through white-label and private-label offerings.
For more information on Eden Green Technology, visit edengreen.com.
About Eden Green Technology
Eden Green Technology, a Dallas-Fort Worth-based privately held company, is on a mission to provide hyperfresh and locally-grown produce for all. Eden Green Technology offers producers, retailers and suppliers an alternative to traditional agriculture; a decentralized network of greenhouses that provides access to safe, always-available, locally-grown produce year-round for retail, white-label and private-label solutions.
The company’s proprietary microclimate environments, hydroponic vine systems and cutting-edge lighting solutions allow for rapid construction and expansion, increasing access and production profitably. With local and national distribution channels, everyone can benefit from fresher, safer and healthier food. Eden Green reserves up to 10% of each harvest for philanthropic donation. Learn more at www.edengreen.com
Contact:
Eden Green Technology
edengreen@launchsquad.com
