Local Bounti appoints Dane Almassy as chief commercial officer

HAMILTON, Mont. - Indoor agriculture company Local Bounti Corporation (NYSE:LOCL) announced Wednesday the appointment of Dane Almassy as Chief Commercial Officer, effective August 25, 2025. According to InvestingPro data, the company generated $41.36 million in revenue over the last twelve months, with a notable year-over-year growth of 41.44%.

Almassy brings over 20 years of experience in consumer packaged goods and agriculture sectors. His previous roles include senior positions at PepsiCo, WhiteWave Foods, and Aurora Organic Dairy. Most recently, he served as SVP of Sales & Marketing at AeroFarms, where he led go-to-market strategy and logistics operations.

"His extensive experience across fresh produce and CEA, paired with his operational acumen and strategic mindset gained at both large and rapidly growing consumer packaged goods companies will be extremely valuable," said Kathleen Valiasek, President, CEO, and CFO of Local Bounti, in a press release statement.

Almassy currently serves on the leadership board of the CEA Food Safety Coalition, helping shape industry standards for food safety and quality. He holds a Bachelor of Arts in Journalism and Mass Communication from the University of North Carolina at Chapel Hill.

Local Bounti operates indoor growing facilities across the United States, servicing approximately 13,000 retail doors. The company utilizes what it calls Stack & Flow Technology to improve crop production while using significantly less land and water than conventional farming methods.

The Montana-based company faces ongoing financial challenges, noting in its forward-looking statements the need to obtain additional capital and its ability to continue as a going concern. InvestingPro data shows the company carries a substantial debt burden of $530.47 million, with analysts noting several additional risk factors. For detailed analysis and 12 more exclusive ProTips about Local Bounti’s financial health and market position, visit InvestingPro.

In other recent news, Local Bounti Corporation reported its financial results for the first quarter of 2025, highlighting a substantial 38% year-over-year increase in revenue, reaching $11.6 million. However, the company also faced a widening net loss of $37.7 million during the same period. Despite these financial challenges, Local Bounti remains optimistic, with a goal of achieving positive adjusted EBITDA by the third quarter of 2025. In addition to its financial updates, Local Bounti announced an amendment to its 2021 Equity Incentive Plan, increasing the shares available for awards by 2,473,042, following stockholder approval at the recent Annual Meeting. The meeting also resulted in the election of three Class I directors, Pamela Brewster, Michael Molnar, and Matthew Nordby, to serve three-year terms. Stockholders further ratified the appointment of WithumSmith+Brown, PC as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025. These developments reflect ongoing changes and strategic decisions within the company.

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