Core Insights - Local Bounti Corporation has secured a two-year contract with a large multinational retailer to supply living butter lettuce to 13 distribution centers, highlighting the company's customer-centric approach and commercial momentum [1][2] - The CEO emphasized the demand for fresh, sustainable, locally grown produce and the company's strategy to align capacity with customer demand, which is expected to drive performance and lead to positive adjusted EBITDA by Q2 2025 [2][3] Company Overview - Local Bounti is innovating indoor farming through its patented Stack & Flow Technology®, which enhances crop turns, output, and unit economics, operating advanced facilities across the U.S. and servicing approximately 13,000 retail doors [3] - The company utilizes sustainable growing methods that consume 90% less land and water compared to traditional farming, aiming to revolutionize agriculture and ensure accessibility to fresh produce [3] Strategic Approach - The award from the retailer is a result of strategic discussions with both new and existing customers, ensuring that facilities are optimized for specific products that align with customer distribution plans [2] - This customer-centric strategy allows Local Bounti to maximize synergies across its growing footprint and customer network, enhancing overall performance [2]
Local Bounti Announces Multi-Year Award with Large Multinational Retailer