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Local Bounti Corporation (NYSE:LOCL) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company, announced today that the United States Patent and Trademark Office issued a patent to the Company on February 13, 2024 for its proprietary Stack & Flow Technology.
"This is an amazing accomplishment for our entire organization which has worked tirelessly to design a robust solution, and we are pleased to have received the grant from the U.S. Patent and Trademark Office recognizing our innovations while further extending our intellectual property and competitive lead," commented Craig Hurlbert, Local Bounti's Chief Executive Officer. "It is exhilarating to think about all the families that will benefit from delicious, locally grown produce that we grow utilizing sustainable methods. This is a win for families and the environment."
Local Bounti utilizes its proprietary Stack & Flow Technology at four of its six growing facilities to enhance productivity in support of its distribution to a national customer base that spans approximately 13,000 retail doors. Stack & Flow Technology, which combines the best of vertical and greenhouse growing technologies, enables superior unit economics and efficiencies across the production cycle. Plants spend early development in a stacked nursery design, reducing facility square footage. When the plants reach targeted maturity, they are transported to hydroponic greenhouses, which are arranged on horizontal planes with natural sunlight and other controlled environment variables, resulting in optimal growth conditions specified for each type of plant as well as space and energy efficiency. With less land requirement and fewer days in the greenhouse, Stack & Flow Technology enables lower capital expenditure, lower operating expenses, higher labor efficiency and higher yield that others lack compared to results published by greenhouse farms and other CEA operations.
Posted In: LOCL
