Edible Garden Receives Preliminary Approval to Sell Tax Credits Through New Jersey Economic Development Authority (NJEDA) Program
Key Highlights
- ➤Edible Garden (EDBL) receives preliminary NJEDA approval for FY2026 NOL Program application
- ➤Potential proceeds could monetize unused NOLs and R&D tax credits as non-dilutive capital
- ➤Final allocation, corporate buyer, transaction, and regulatory approvals remain outstanding
- ➤Edible Garden plans to use potential proceeds for operations, technology, and product expansion
Expert Statements
Jim Kras, Chief Executive Officer of Edible Garden
“This program provides an important opportunity to unlock the value of our existing tax assets and potentially access additional capital to support our ongoing growth initiatives.”
Jim Kras, Chief Executive Officer of Edible Garden
“It also reinforces our focus on maintaining financial flexibility while continuing to invest in innovation and operational efficiency.”
Jim Kras, Chief Executive Officer of Edible Garden
“We remain focused on strengthening our financial position, managing our resources efficiently, and executing our strategy to build a more scalable and sustainable business that creates long-term value for our shareholders.”
BELVIDERE, NJ, Oct. 09, 2026 (GLOBE NEWSWIRE) -- Edible Garden AG Incorporated (“Edible Garden” or the “Company”) (Nasdaq: EDBL, EDBLW), a leader in controlled environment agriculture (CEA), organic and sustainable produce, and developer of the Zero-Waste Inspired® mission and Farm-to-Formula® platform, today announced that the New Jersey Economic Development Authority (NJEDA) has preliminarily approved the Company’s application under the Technology Business Tax Certificate Transfer Program, also known as the Net Operating Loss (NOL) Program, for State Fiscal Year 2026.
The NJEDA program enables qualified New Jersey-based technology and innovation-driven companies to monetize certain unused net operating losses and research and development (R&D) tax credits by transferring them to approved corporate buyers. Subject to final allocation, required approvals, and completion of a transaction, participation in the program could provide Edible Garden with an additional source of non-dilutive capital to support its ongoing operations, strategic initiatives, and long-term growth objectives.
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