Local Bounti Corporation, a leading controlled environment agriculture (CEA) company, announced plans to build and operate a new indoor facility in Mount Pleasant, Texas. The company will begin construction on a six-acre facility using Local Bounti's proprietary Stack & Flow Technology to grow and sell its packaged leafy greens indoors. Spring mix, butter lettuce, romaine crisp, green leaf, and other blends are among the varieties. The facility is scheduled to open in Q4 2023.

The new facility is expected to strengthen Local Bounti's distribution in Texas, Oklahoma, Louisiana, Mississippi, Arkansas, Kansas, and Missouri. Furthermore, the facility is intended to provide additional capacity to meet existing demand from Local Bounti's direct relationships with regional blue-chip retailers and distributors.

Founded in 2018, Local Bounti Corporation uses its Stack & Flow Technology to grow various leafy greens locally, 365 days a year, and distribute them nationally, with the most extensive distribution footprint in the controlled environment agriculture industry. The company operates advanced indoor facilities for its two brands, Local Bounti and Pete's. The company claims it uses 90% less water and 90% less land than traditional agriculture.

Analyst QuickTake: Local Bounti announced a merger with SPAC Leo Holdings in June 2021 in order to go public on the NYSE and expand its footprint across the western US. The new Texas facility is one of such facilities Local Bounti intended to open in conjunction with the merger.