Local Bounti Corporation (NYSE:LOCL) Q4 2022 Earnings Call Transcript

Craig Hurlbert: Yes. It’s a great question. And maybe, Travis, you can touch on that, kind of on some of the things we’re learning, some of the things that are even better than we had anticipated maybe walk him through that, please?

Travis Joyner: Yes. So I think kind of consistent with my remarks, I think what’s unique about the Georgia facility is it’s an existing greenhouse facility with horizontal technology active. So if you think about how a traditional greenhouse tech works, you drop a seat in the greenhouse and then depending on the crop, 30 to 40 days later, you have a finished product on the other side. And so as we’ve gone through these recipe trials, what we’ve seen is our stack phase outperforms head-to-head very consistently as we’ve activated that section of the facility. I’d say the other thing is that I touched on the fact that year-over-year in our Hamilton facility we’re seeing a very consistent uptick in yield. And so I think the learning’s are very consistent with what we’ve seen in Montana, right out of the box, Stack wins when head-to-head to a greenhouse that’s operating on a sole basis with existing horizontal tech, and we’ve got lots of upside to go get from where we sit today.

Jeff Drezner: Got it. Thanks for taking my question. Appreciate that.

Jeff Sonnek: Thank you so much for your questions.

Operator: Thank you. And ladies and gentlemen, at this time I’d like to end the question-and-answer session and turn the conference back to management for any closing remarks.

Craig Hurlbert: I think management would again like to thank all of the amazing people at Local Bounti and I would just like to thank everyone for joining us this morning. We look forward to speaking to you soon. Thank you so much. Everybody, have a great day.

Operator: Ladies and gentlemen, that does conclude today’s conference call. We do thank you for attending. You may now disconnect your lines.