We'll head down here and then I would start or I would end with what I started with. We'll talk a little bit about your quarterly results here in a minute because I want to get into that, but one of the things that stood out to me in the earnings call. WebAppharvest (: ) is owned by 29.32% institutional shareholders, 30.67% Appharvest 40.01% retail investors. Jonathan Webb - Biography - MarketScreener.com We're laser-focused on getting this right here. AppHarvest reaffirms guidance on full-year 2021 net revenue of $21 million and Adjusted EBITDA of ($41) million provided during its Analyst Day presentation on December 15, 2020. With significant tailwinds from heightened investor focus on ESG initiatives and the secular shift to plant-based foods, we believe AppHarvest is well-positioned to execute on its strategy for rapid growth and value creation, he continued. The business combination values AppHarvest at a $1.0 billion pro forma equity value, at the $10.00 per share PIPE price and assuming minimal redemptions by Novus Capital shareholders. Learn More. AppHarvest Amid the verdant rolling hills of central Kentucky, in the heart of Appalachian coal country, youll WebJonathan Webb, AppHarvest Inc: Profile and Biography - Bloomberg Markets Live Now Bloomberg TV+ Leaders with Lacqua:Mark Read WPP CEO Bloomberg Radio Meet the He scored 296 points for England and played in two Rugby World Cups including the 1991 final. AppHarvest is recovering from a challenging third quarter, in which it reported a net loss of over $17 million; Webb attributes it to hyper-growth. AppHarvest to go public, seeks $475m at $1bn valuation - AFN I like thinking about a future where AppHarvest and companies like you all are helping make our food supply not only here domestically, but really around the world better, more reliable, more transparent. But then there's the other side, and introducing robotics that's operating on AI, that's collecting data in our facility and making data-driven decisions. But its confident in its approach. Location: Pikeville, KY. Add to My Lists. AppHarvest: Transforming The Future Of Agtech, And Maybe The Three thoughts on leadership from the founder and CEO The last thing I would say to that is whether or not we want to do it or not, the world is changing and regulators are approaching back. I'm looking forward to being able to find more and more of these AppHarvest products in our grocery stores as we move forward. Look at how many times in the last few years you've had leafy greens yanked off store shelves. We just have to keep our head down and execute and do our job every day here at AppHarvest. Webb founded AppHarvest in 2017, and the company was certified as a B Corp two years later. WebJonathan Webb grew up in Kentucky and has been committed to developing sustainable projects from Central Appalachia. Jonathan Webb is an actor with a large following on Twitter. I watch them, I watch their friends, the things that they care about. There has been nothing more impactful on farming since that time, and now, it's AI robotics and using data to make decisions. Kentucky has been experiencing record amounts of rainfall in recent years, so for Webb, the location was obvious. ", "It's easy to be a CEO that's looking for the next three months," Webb stated. Who were the most active food and agriculture technology venture capital firms in 2022. The greenhouse will cost $97 million and span 60 acres. Moser: Yeah. Eventually, he found the right problem to solve. Which is important, because AppHarvest employs well over 300 people in its Morehead facility alone. As investors were looking for the biggest market opportunities we can find, market opportunities that are growing. His extensive experience and knowledge in the field have led to his reputation as a leading knee surgeon in the UK. WebThe combined company will be led by Jonathan Webb, AppHarvests Founder & Chief Executive Officer. But one thing we'd like to talk about is competitive advantage, what makes a company special? We look forward to providing you with even more cutting-edge market research, as Topio Networks. Now, his company AppHarvest (the name is a play on both Appalachia and the high-tech nature of what they do), operates a sixty acre greenhouse in Morehead, Kentucky that grows hydroponic tomatoes up to the ceiling. Then we have to remember this isn't just a U.S. problem we're trying to solve. It's therefore worth looking at AppHarvest's earnings history below. On this week's episode of Industry Focus: Wildcard, host Jason Moser chats with AppHarvest (APPH) founder and CEO Jonathan Webb about the growing opportunity in the agtech space, what makes AppHarvest unique, his vision of the future of farming, and much more. He has published numerous papers on the topic of knee ligament injuries, arthroscopic surgery, and other techniques. But in order to prove to our investors and prove to our shareholders and broader stakeholders, for us, it's about meeting our targets, and I've tried to say AppHarvest, we're in the business of delivering on our promises. "It's hard to be the one that's looking two decades down the road while thinking of the here and now.". I mean, all of the stuff that you just talked about really does matter. 2023 Fortune Media IP Limited. Webb made a second appearance for England, and reached the final. Again, for us, it's about keeping our head down, growing good fruit and vegetables. Jonathan Webb currently follows over 1 million people. People are becoming more and more aware of where they get stuff and for people that question how quickly a sector can transition, I have a lot of friends that worked in the coal industry. Typically, you would do 40 to 60 meetings to get a couple of investors. Webb was also the first LPGA player to win $1 million in a single season, finishing first on the year-end money list. We're one of four companies that are publicly traded that have both of those as a company. Its easier than ever to find a trustworthy doctor. We are about to plant our first crop in a 60-acre, controlled environment, chemical-free farm. I have no doubt that we will. Prior to founding AppHarvest, Jonathan supported the Executive Director of the Army Office of Energy Initiatives to help meet the White House goal of supplying 20% of the Department of Defenses electricity usage from renewable Most people every day are just concerned about can they put food on the table? People, planet, wonderful, but I'm trying to make money. But I think there are a lot of benefits that come with that. We want to make sure you get the most out of our platform. We've been able, very fortunate, a very talented team, MIT team out of Boston that has a proven track record and great products that we've integrated them fully into the AppHarvest team. Moser: Yeah. Public asset : 44,698,475 USD. Now, we want to turn this region into an area of the country that's known for sustainable food production, but beyond just loving the place, I'm from Kentucky, beyond just loving this area, we can get to three quarters of the U.S. on a day drive. I think they certainly will be. sold to the top 25 U.S. grocers. The deal is slated to bring in $475 million in gross proceeds for Kentucky-based AppHarvest, including a private investment in public equity (PIPE) transaction worth $375 million from existing and new investors including Fidelity Management & Research Company, Inclusive Capital, and Novus. In light of the challenges AppHarvest has faced in its early stages, Webb expressed hope that younger generations like Gen Z and millennials would continue to innovate and "fight through" any obstacles in their way. AppHarvest Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Follow him on Twitter to get more updates. Then we'll be able to give that data over to the grocer in more real-time. We're focused on bringing that production back from Mexico that has been shifted outside of the U.S. and bring that back into the U.S. in a controlled environment. What are you trying to accomplish? Are we perfect? I don't think anybody thinks of farming from this perspective. The Art of Self Meditation: What Are the Benefits? AppHarvest CEO envisions 'couple-decade journey' after going public If you want to know how wealthy he is, read on! The mission-driven approach Webb has prioritized is the companys main selling point both for investors and potential employees, whom he works to lure away from billion-dollar conglomerates. We arent burning through cash with pointless R&D when we can buy incredible technologies over in the Netherlands, Webb says. Webb, a former rugby player, has a wealth experience and is now helping players return to the sport they love. Jonathan Webb Net Worth There's a level of rigor that comes with that, and so for us, the SPAC was just a vehicle. One, our geographic location. The estimated value when the deal closes will be about a billion dollars for the company. The system it uses reportedly reduces water usage by 90% compared to traditional open-field agriculture, while also eliminating runoff. I mean I'm glad you keyed on the fact this is a global situation, it's a global issue. Here are five relaxing scents you can use in your bedroom. Accomplish what they wanted to pursue? If were all doing that, we have a pretty phenomenal organization.. Also referred to as blank check companies, the mechanism has existed for several years but has received increased attention of late. I'm sure it was an exciting time. Webb is from Kentucky, where 16% of residents are below the poverty line, and when the coal jobs dried up, nothing came in to replace them. We've had one of our wettest decades on state record. St John Greek Orthodox Church Easter Schedule, 7 Residential Solar Maintenance Errors and How to Avoid Them, 4 Errors with Kitchen Renovations and How to Avoid Them, An Informative Guide to Livestock Transportation, A Tool That You Need If You are Into Live Stream. I asked on a call earlier today, well, have you had issues hiring people? We're a public benefit corporation, and we're B Corp certified. Moser: Well, you said it on the call. AppHarvest is known for its approach to CEA, which Webb called the "third wave of sustainable infrastructure." What's your competitive advantages or something you feel differentiates you from your competition? But if you look at the current food system today, it's high fructose corn syrup, it's sugary food that has low nutrient density. No one else in America is doing something at that scale. Everybody has full healthcare. www.vbprofiles.com is now www.topionetworks.com. Remember, you can always reach out to us on Twitter at @MFIndustryFocus, or drop us an email at [emailprotected] As always, people on the program may have interest in the stocks they talk about and The Motley Fool may have formal recommendations for or against, so don't buy or sell stocks based solely on what you hear. In the 1992 Five Nations, England won the title back-to-back for the first time since 1924, thanks to Webbs brace. Opinions expressed by Forbes Contributors are their own. You are speaking our language here at The Fool. Jonathan, thank you so much for taking the time out of your busy schedule to see just more about AppHarvest to talk about all the stuff that you're trying to accomplish there. Her estimated net worth is more than $15 million. I don't know that we're going to have enough time, but let's just start first and foremost this is one of our most recent recommendations in our service. Jonathan Webb, CEO, AppHarvest: AgTech Farming for Our As part of that, in order to bring trust and transparency to agriculture, you have to be a public company. To learn more about AppHarvest, you can visit appharvest.com. A Kentucky native and University of Kentucky graduate, Jonathan Webb is turning his dream of a high-tech farming hub in Appalachia into reality with AppHarvest. Making the world smarter, happier, and richer. Jonathan Webb We believe controlled environment agriculture is the third wave of sustainable infrastructure. "Greenwashing" Doesn't Work: Jonathan Webb, Founder & CEO, This company has plans to open two additional indoor farms in Kentucky and has already announced partnerships with the Dutch government and multiple universities to make Appalachia a hub for the agtech industry. Founder & CEO at AppHarvest. To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center. He has successfully completed over 200 operations using the Mako machine. Project Access, Inc. was founded by Mr. Webb in 1999. Jonathan Webb poses with celebrity investor Martha Stewart and some of his signature tomatoes. It was clear that their work culture is infused with a pioneering mentality, and that Webb feels strongly about keeping that culture consistent as the company expands. We've had 8,000 people apply to work at the company and we've hired 500 people in the middle of a global pandemic. You talk about sustainable. To me, this feels like just that, a growing market opportunity that is global in nature, and really the opportunity, just getting started. The nonprofit organization he founded is still in operation today, and he continues to serve as Board Chair. It's the workforce that we're going to use to grow the organization. Originally from Kentucky, Webb is dedicated to sustainable projects in Central Appalachia. 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We look at them over the course of time, years, and hopefully, decades we can be a part of that journey with you all. Photo credit: US controlled environment agriculture (CEA) startup, has announced a merger with NASDAQ-listed special purpose acquisition company (SPAC), The deal is slated to bring in $475 million in gross proceeds for Kentucky-based AppHarvest, including a private investment in public equity (PIPE) transaction worth $375 million from existing and new investors including, I cant say this was the exact plan but what accelerated all of this was Covid-19, AppHarvest CEO Jonathan Webb told, . Dr. Webb graduated at the University of California San Diego School of Medicine. Dr. Jonathan Webb, a specialist knee surgeon at Nuffield Health Bristol Hospital, is the doctor. But the futuristic pieces, we've combined a technology team with a great plant science group. It's so cool to think about what you guys are doing there. You start to do the math, and realize you might need two planet earths to have enough land and water to grow that food.. The company is building some of the largest indoor farms in the world, combining conventional agricultural techniques with todays technology to grow non-GMO, chemical-free produce to be. US controlled environment agriculture (CEA) startup AppHarvest has announced a merger with NASDAQ-listed special purpose acquisition company (SPAC) Novus Capital, enabling it to go public. 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But I dont think thats adding value to the company, or looking out for our shareholders, he said. What's the technology that you are looking toward to help you change this space? Use our online form to book an appointment with Dr. Webb. He has over 100 civil and criminal jury trials and has represented clients in counties across Georgia. Jonathan Webb - Founder & CEO @ AppHarvest I could be in a penthouse in New York City, managing AppHarvest from the 32nd floor of some high-rise. There's a lot of different ways to go public and at the time and we did it, and I think it was definitely the best decision for us at the time. We dont see it as losing money for losing moneys sake; developing that tech is investing in our future.. Investors Dig Into AppHarvest | The Motley Fool - Nasdaq I've tried to say, we have a team that looks at this as this is our 30-year journey here at AppHarvest. By us running on completely recycled rainwater, we have no water cost. The Kentucky-based agriculture tech company, which was founded in 2017, began trading on the Nasdaq in late February 2021 after completing a SPAC merger with Novus Capital Corporation. For example, we use integrated pest management, good pest to kill bad pest. For young people, we've invested heavily in high school education here in this region and part of it is, we're not just building facilities, we're building an ecosystem and part of that is change the narrative that farming is simply outdoors and on a tractor, we very much respect American farmers, we have great respect for the four-season farmer that's putting food on our table but we have to get young people to think, the average age of the American farmer is about 60 years old, and so for us by investing in high schools, it's teaching young people you're operating a farm with an iPhone and iPad using industrial sensors, with robotics operating on AI. At one point, we were thinking of putting up a billboard in front of several large tech company offices saying, Come build tech that matters, Webb said. We're going to be headquartered in Central Appalachia, execution at scale here in the U.S. but this is a global problem that we've gotten phone calls from around the world about how and when we can take our solution and go elsewhere. This is becoming really a hot-button topic for a lot of investors, rightly so. Get 5 free searches. I cant say this was the exact plan but what accelerated all of this was Covid-19, AppHarvest CEO Jonathan Webb told AFN. His fund's based in DC, we had them as early investors. We always talk about investing for the future because that's really what investing is all about. But the production we've left in the US is being grown in areas that are running out of water. Webb left for college, eventually pursuing a career in renewables at the DOE, a space where he felt he could be part of the solution. But the economic devastation in his home state still bothered him. We're building infrastructure in an area of the country where we're having record amounts of rainfall, and if you look at the climate maps, we continue to get wetter. Webb: Well, I'll start by saying, anyone that is growing good, clean produce, without harsh chemical pesticides, I try to call them my colleagues, not competitors. I was very fortunate. He represented his country in 33 Test matches and played for Bristol and Bath. AppHarvest Went From Seed to $1 Billion in Just 3 Years Those are always famous last words as we move into some disruptive phase. Sometimes, it can even get us a few steps closer to saving he world.