Local Bounti Corporation (LOCL): History, Ownership, Mission, How It Works & Makes Money

Ever wondered how indoor agriculture is making waves in the stock market? Local Bounti Corporation (LOCL), a U.S. indoor agriculture company, is redefining the way we think about sustainable produce. With 2024 sales surging by 38% to $38.1 million and gross profit increasing by 181%, how exactly does this company operate and generate revenue? Keep reading to explore Local Bounti's journey, ownership structure, innovative technology, and financial strategies that are shaping its growth in the industry.

Local Bounti Corporation (LOCL) History

Local Bounti's Founding Timeline

Year established

Local Bounti was established in 2018.

Original location

The company was originally located in Hamilton, Montana.

Founding team members

The founding team members include:

• Craig Hurlbert
• Travis Montoya
• Tristan Loanzon

Initial capital/funding

In 2020, Local Bounti secured $9.3 million in seed funding. Later, in 2021, they completed a merger with Leo Holdings Corp. II, a special purpose acquisition company (SPAC), resulting in approximately $400 million in gross proceeds.

Local Bounti's Evolution Milestones

Local Bounti's Transformative Moments

• Merger with Leo Holdings Corp. II (2021): This SPAC merger provided Local Bounti with substantial capital, accelerating its growth plans and enabling it to pursue strategic acquisitions. The influx of approximately $400 million was pivotal for scaling operations and expanding market reach.
• Acquisition of Pete's U.S. Operations (2022): The acquisition of Pete's U.S. operations marked a significant expansion of Local Bounti's production capacity and market share. This move allowed the company to strengthen its position in the CEA sector and enhance its ability to meet growing consumer demand for locally grown produce.
• Focus on Stack & Flow Technology: Local Bounti's emphasis on its proprietary Stack & Flow Technology has been a key differentiator. This innovative approach to vertical farming allows for efficient space utilization and resource management, contributing to higher yields and reduced environmental impact.
• Strategic Realignment and Cost Optimization (2023-2024): In response to financial pressures, Local Bounti initiated measures to consolidate facilities and optimize its operational footprint. These decisions reflect a focus on achieving sustainable profitability and improving financial performance.

For an in-depth analysis of the company's financial health, see Breaking Down Local Bounti Corporation (LOCL) Financial Health: Key Insights for Investors.

Local Bounti Corporation (LOCL) Ownership Structure

Understanding Local Bounti Corporation's ownership structure provides valuable insights into its control and governance. A clear view of who holds the company's shares helps stakeholders assess the alignment of interests and potential influence on strategic decisions.

Local Bounti Corporation's Current Status

Local Bounti Corporation is a publicly traded company, listed on the New York Stock Exchange under the ticker symbol LOCL.

Local Bounti Corporation's Ownership Breakdown

As a publicly traded company, Local Bounti's ownership is distributed among various shareholders, including institutional investors, individual investors, and company insiders. The following table provides an overview of the company's ownership breakdown:

Local Bounti Corporation's Leadership

The leadership team plays a crucial role in guiding Local Bounti's strategy and operations. As of April 2025, key members of the leadership team include:

• Anna Fabrega: Chief Executive Officer
• Travis Moskalski: Chief Financial Officer

For more detailed insights into Local Bounti Corporation's financial standing, consider exploring: Breaking Down Local Bounti Corporation (LOCL) Financial Health: Key Insights for Investors

Local Bounti Corporation (LOCL) Mission and Values

Local Bounti's mission is to bring fresh, local, and sustainable produce to communities across the nation, while its values revolve around sustainability, innovation, and community engagement.

Local Bounti's Core Purpose

Official mission statement

Local Bounti's mission statement is: 'To nourish people and planet by bringing the best in sustainable local produce to communities everywhere.'

• Focuses on providing sustainable and locally grown produce.
• Aims to nourish both people and the planet.
• Strives to deliver high-quality produce to communities nationwide.

Vision statement

Local Bounti's vision is to be a leader in the controlled environment agriculture (CEA) industry, transforming the way fresh produce is grown and distributed to create a more sustainable and resilient food system.

• Aims to lead the CEA sector through innovative and sustainable practices.
• Seeks to revolutionize produce cultivation and distribution.
• Committed to building a resilient and eco-friendly food supply chain.

Company slogan/tagline

Local Bounti’s tagline is 'Fresh From Our Farm To Your Table.'

• Emphasizes the freshness and directness of their produce supply chain.
• Highlights the local aspect of their farming operations.
• Communicates a commitment to delivering farm-fresh quality to consumers.

For an in-depth analysis of Local Bounti's financial standing, explore: Breaking Down Local Bounti Corporation (LOCL) Financial Health: Key Insights for Investors

Local Bounti Corporation (LOCL) How It Works

Local Bounti Corporation focuses on growing fresh produce through controlled environment agriculture (CEA). They utilize advanced hydroponic methods within greenhouses to create a more sustainable and efficient farming system.

Local Bounti Corporation's Product/Service Portfolio

Local Bounti Corporation's Operational Framework

Local Bounti employs a sophisticated operational framework centered around its Stack & Grow System, which enhances efficiency and sustainability in agriculture. Key aspects of this framework include:

• Hydroponic Growing Systems: Utilizing nutrient-rich water solutions instead of soil to deliver essential elements directly to the plants' roots, accelerating growth cycles and minimizing water waste.
• Controlled Environment Agriculture (CEA): Maintaining precise control over environmental factors such as temperature, humidity, and light within greenhouses to optimize growing conditions year-round.
• Stack & Grow Technology: Implementing vertical farming techniques to maximize space utilization within facilities, increasing overall yields per square foot compared to traditional farming.
• Integrated Pest Management: Employing biological controls and preventative measures to minimize the need for pesticides, ensuring healthier produce and reducing environmental impact.
• Water Management: Implementing closed-loop water recycling systems to conserve water resources, reducing water consumption compared to traditional agriculture.
• Supply Chain Optimization: Establishing local production facilities to reduce transportation distances, ensuring fresher produce reaches consumers faster while minimizing carbon emissions.

More insights about the company's financial standings can be found here: Breaking Down Local Bounti Corporation (LOCL) Financial Health: Key Insights for Investors

Local Bounti Corporation's Strategic Advantages

Local Bounti distinguishes itself through several strategic advantages that bolster its competitive position in the market:

• Sustainable Farming Practices: Utilizing CEA and hydroponics to significantly reduce water consumption, land usage, and pesticide use compared to traditional farming methods, appealing to environmentally conscious consumers.
• Year-Round Production: Maintaining consistent crop yields regardless of external weather conditions, ensuring a reliable supply of fresh produce to meet consumer demand year-round.
• Local Production: Operating regional production facilities to minimize transportation times and distances, delivering fresher produce to local markets and reducing supply chain complexities.
• Technological Innovation: Continuously investing in and refining its Stack & Grow System and other proprietary technologies to enhance operational efficiency, increase yields, and improve product quality.
• Brand Reputation: Building a reputation for high-quality, sustainably grown produce, fostering consumer trust and loyalty in the marketplace.

Local Bounti Corporation (LOCL) How It Makes Money

Local Bounti Corporation primarily generates revenue through the sale of its locally grown produce, leveraging advanced controlled environment agriculture (CEA) technology to cultivate and distribute fresh greens.

Local Bounti's Revenue Breakdown

The revenue streams are categorized based on product types and distribution channels.

Local Bounti's Business Economics

Local Bounti's business economics are rooted in its advanced CEA technology, which allows for year-round production, reduced transportation costs, and efficient resource utilization. Key aspects include:

• Pricing Strategy: Premium pricing due to superior freshness, quality, and local sourcing.
• Cost Structure: High upfront capital expenditure for farm construction, but lower operating costs due to efficient resource use and reduced waste.
• Economic Moat: Proprietary Stack & Flow Technology and strategic locations near major distribution centers create a competitive advantage.

Local Bounti's Financial Performance

Analyzing Local Bounti's financial performance involves assessing key metrics that reflect its operational efficiency and growth trajectory. As of the fiscal year 2024, here are some important considerations:

• Revenue Growth: Reported a 114% increase in revenue, reaching $54.1 million for the year 2024.
• Gross Margin: Achieved a gross margin of 17% for the full year 2024, demonstrating improved profitability.
• Net Loss: The company experienced a net loss of $107.9 million, reflecting ongoing investments in expansion and technology.
• Adjusted EBITDA: Reported an adjusted EBITDA loss of $49.9 million, indicating operational improvements but continued losses.

To gain further insights into the company's values and long-term goals, explore the Mission Statement, Vision, & Core Values of Local Bounti Corporation (LOCL).

Local Bounti Corporation (LOCL) Market Position & Future Outlook

Local Bounti is strategically positioned to capitalize on the increasing demand for locally sourced and sustainable produce, although it faces competition and operational challenges. The company's future hinges on successfully scaling its operations, optimizing its supply chain, and managing its financial performance. For more in-depth insights, check out: Exploring Local Bounti Corporation (LOCL) Investor Profile: Who’s Buying and Why?

Competitive Landscape

Opportunities & Challenges

Industry Position

Local Bounti is an emerging player in the CEA sector, striving to establish a strong foothold through strategic initiatives:

• Technological Integration: Adopting advanced greenhouse technologies to enhance crop yields and resource efficiency.
• Strategic Partnerships: Collaborating with retailers and distributors to expand market reach.
• Sustainability Focus: Emphasizing eco-friendly practices to appeal to environmentally conscious consumers.