Edible Garden, Square Roots Partner To Develop Functional Ready-to-Drink Beverages
(RTTNews) - Edible Garden AG Incorporated (EDBL) signed a memorandum of understanding (MOU) with Square Roots Urban Growers, co-founded by Kimbal Musk and Tobias Peggs, to jointly develop clean-label, ready-to-drink (RTD) functional beverages targeting health, wellness and performance nutrition, the company said in a filing with the U.S. Securities and Exchange Commission (SEC) on Monday.
The companies plan to develop beverages using nutrient-rich crops with naturally occurring bioactive compounds that support cognitive health, metabolic wellness, healthy aging, inflammation management, GLP-1 support and performance nutrition. The products are expected to be manufactured at Edible Garden's RTD facility.
The project will have three phases: partner discovery, crop selection and bioactive optimization, and beverage formulation. Square Roots will lead the first two phases, including crop research and laboratory testing, while Edible Garden will handle formulation and production.
The companies aim to develop a "farm-to-formula" beverage using crops grown by either Square Roots or Edible Garden.
Edible Garden shares were up nearly 1% in pre-market trading after closing at $1.46 on Friday.
