Local Bounti
Local Bounti is a sustainable agriculture company that produces living lettuce, herbs, and loose leaf lettuce using 90% less water and land than traditional farming, with facilities in Montana and Texas.
Sustainable Farming Practices
Local Bounti utilizes innovative farming techniques that focus on sustainability. The company's operations use 90% less water and 90% less land compared to traditional agriculture. This is achieved through their patent-pending Stack & Flow Technology™, which combines vertical farming and hydroponic greenhouse farming. The method enables a 365-day growing season and ensures the use of less than 10 gallons of water per pound of product, in stark contrast to the 150 gallons used in traditional farming.
Community Engagement and Employment
Local Bounti is deeply rooted in its community, with over 70% of its employees sourced locally. The company emphasizes local employment and invests in nurturing community relationships. By situating its facilities, such as the one in Hamilton, Montana, within Federal Opportunity Zones, the company has invested over $70 million in these areas, contributing to local economic development.
Product Range and Innovation
The company produces a variety of sustainably grown leafy greens, including living lettuce, herbs, loose leaf lettuce, crispy green leaf, green & red leaf, romaine lettuce, butter lettuce, and spring mix. Local Bounti also offers grab & go salads and introduced unique products such as the Asian Style Chicken Lettuce Wrap Kit in January 2023. In May 2023, it became the first indoor grower to offer salads with chicken, showcasing its commitment to innovation in the industry.
Facilities and Expansion
Local Bounti is expanding its high-tech controlled environment agriculture facilities. In addition to its existing facility in Hamilton, Montana, the company has a new site in Mount Pleasant, Texas. The expansion is backed by significant financial support, including a $200 million debt financing facility announced with Cargill in September 2021. The new Texas facility broke ground in January 2023, marking a significant step in their growth strategy.
Sustainability Reporting and Certifications
Local Bounti adheres to high standards of sustainability reporting. The company reports in accordance with the Global Reporting Initiative (GRI) Standards and the Sustainability Accounting Standards Board Agricultural Products Sustainability Accounting Standard. It issued its inaugural Corporate Sustainability Report in January 2022. Furthermore, Local Bounti is a participant in the UN Global Compact and is a member of How2Recycle®, emphasizing its commitment to transparency and sustainable operational practices.