Jeff Ubben, Inclusive Capital Partners founder and AppHarvest investor, and Jonathan Webb, AppHarvest CEO, join 'Closing Bell' to discuss what makes AppHarvest In February 2018, encouraged by investors, advisors including Hillbilly Elegy author J.D. Two years into production, AppHarvest already provides 500 living wage jobs, is a second chance employer, and aims to hire a team as diverse as our nation and then empower them as individuals. Plus, the company is a B corp, a public benefit corporation, and its publicly traded. He is a senior partner in the shipping litigation practice group, focusing on hull insurance claims, charter party disputes, and dry shipping issues. Webb was named a World Rugby Council RFU representative in 2016. We're farmers, we are growing fruits and vegetables, and we're utilizing sunlight, we're utilizing rainwater. I was hoping maybe we could talk a little bit about that idea that you're farmers and futurists. Your email address will not be published. Webb is a highly-respected knee surgeon in the United States. We look forward to providing you with even more cutting-edge market research, as Topio Networks. Moser: Yeah, absolutely. According to Webb, going public has helped the company focus on the big picture. We use bees to pollinate our plans. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. We have to figure out how to grow a lot more food with a lot less resources and we can use that by utilizing technology and infrastructure to grow fruit and vegetables with 90% less water and get about 30 times yield per acre. A SPAC is formed with the sole purpose of raising capital through an IPO in order to acquire an existing privately-held company and take it public. If we're going to be working with the largest players in the world, then we need to be in the big leagues, and the only way to do that is to be a publicly traded company. Not only picking, pruning, harvesting, being able to actually get the tomato off the vine, and ultimately, shipped out, but also the predictive analytics that we can use. Jonathan Webb poses in front of his giant greenhouse, When you look at human civilization, what do you need? Webb founded AppHarvest in 2017, and the company was certified as a B Corp two years later. Webb: To put this in perspective, this was our first facility under operations, our flagship facility. No. 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. AppHarvest monitored for quality control 24/7 and harvested robotically. ET More on the future of agriculture and vertical farming innovator By locating within Appalachia, the company is also less than a days drive to more than two-thirds of the U.S. population. "For us, at AppHarvest, this isn't just about a company. "The public market needs to have a robust category of companies that are building stuff that matters," he stressed. 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. His vision of the future of farming and much, much more. AppHarvest to go public, seeks $475m at $1bn valuation - AFN 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. We just have to keep our head down and execute and do our job every day here at AppHarvest. People, planet, wonderful, but I'm trying to make money. Typically, you would do 40 to 60 meetings to get a couple of investors. Well, you need water you need food, and you need energy. He has over 100 civil and criminal jury trials and has represented clients in counties across Georgia. But the futuristic pieces, we've combined a technology team with a great plant science group. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Do the hard work to create shareholder value now while also looking out for shareholders two decades from now, Webb said is his credo. He has become a prominent social media star. Even though you entered at such a young stage of your business, You essentially were pre-revenue coming into the public markets, and now, you're just getting that started. Get the latest news and research from AFN & AgFunder in your inbox. Use our online form to book an appointment with Dr. Webb. One of AppHarvest's mobile units ready to fight the food fight, outside of AppHarvest's offices in [+] Lexington, Kentucky, If we cant treat people with dignity and respect who put food on our table, where do we think humanity is going to end up? Is there a benefit? How do you feel about coming public a lot earlier than you probably would've normally? Project Access, Inc. was founded by Mr. Webb in 1999. Jonathan Webb currently follows over 1 million people. Required fields are marked *. I know you're busy. He has a particular interest in knee surgery and sports medicine. Moser: It's impressive to think about the scope of what you are taking on because agriculture, farming, that's been something for so long, people just think, well, it's just what it's always been and we do it this way because that's the way we've always done it. We have one farm right now thats 2.8 million square feet. WebJonathan Webb, the CEO of AppHarvest, says water scarcity is a growing national security concern as a heatwave continues to wreak havoc on the West Coast. Jonathan Webb is a specialist knee surgeon and a former English rugby union fullback. Just wondering if you could share some of the highlights, some of the things you're proud of in regard to this earnings release, and your excitement here for the year to come. We're really in the business of packaging up water and then shipping that out to major markets and then beyond that execution at scale. It is a non-profit organization that provides education and social services to low-income residents living in low-income apartments. I would not want to be one of those large operators and food today when you see the consumer trends changing as quickly as they are, and we feel very optimistic again about where our growth trajectory is. Jonathan Webb, a Maryland attorney, has experience in criminal defense and DUI/DWI defense. Project Access offers ESL/ESL classes, after school programs, and computer literacy. Like every Kentuckian, Jonathan grew up knowing of the devastating job losses in the region. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. So the problem at a macro level just started with hearing the statistic [that humanity will need] 50% to 70% more food by 2050. He was made a Fellow of the British Association of Surgery on the Knee (BASK), and has since taught many international and national athletes in sports medicine. 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. Since joining HFW in 2004, Mr. Webb has specialized in P&I and FD&D for ship owners. Even with the help of AI, farm work at AppHarvest is still hard, manual labor. The companys first greenhouse will span 60 acres and open in 2020 in Morehead, Ky.The greenhouse will operate entirely on rainwater using a 10-acre retention pond, reducing water usage by 80% compared to a typical farm. Thanks as always to Tim Sparks for putting the show together for us. But in its entirety not only do we have a problem we want to solve, we have a place in the world that wants to solve it with us., A crop care specialist carries boxes of tomatoes through a column of crops, pruning as she goes, I got to visit AppHarvest in November, and the sheer enthusiasm Webb has built in his staff is phenomenal. A Bull Market Is Coming: 3 Reasons to Buy Costco Stock, 3 Top Stocks to Buy Now to Prepare for a Bull Market, 2 Exceptional Growth Stocks to Own in 2023, 2 No-Brainer Stocks to Buy During a Stock Market Plunge, 3 Robinhood Stocks to Buy and Hold Forever, 2 Reasons to Avoid a Roth 401(k) for Your Retirement Savings, Want $1 Million in Retirement? We want to be selling to 90% of America. The other thing is scale. Jonathan Webb - Biography - MarketScreener.com AppHarvest has invested in a 2.76million-square-foot greenhouse in Morehead (Ky.) to help meet this goal. Notify me of follow-up comments by email. 95% of a fruit and vegetable is water. Because it is cutting-edge technology. 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. But if we do the work to center the people who benefit from that technology in the middle of the conversation, then progress doesnt have to be a bad thing. Webb, a former rugby player, has a wealth experience and is now helping players return to the sport they love. We've been very fortunate and humbled that the Root AI team is fully a part of the AppHarvest team building robotics that's operating on AI, collecting data. WebAppHarvest salary income and net worth data provided by People Ai provides an estimation for any internet celebrity's real salary income and net worth like AppHarvest based on real Linked companies : AppHarvest, Inc. Summary. Webbs England career totaled 67 points, breaking Hodgkinsons 60-point record. Is there any one thing or is it a collection of many things? Of course, the future is what really matters. Those robots have collected the worlds largest data set of tomato images, and each one is equipped with cameras and a laser that creates a 3D scan of the crops in front of it to determine what needs to be done at any given moment. Webb grew up in Kentucky, and founded AppHarvest in 2017 after years in the solar development industry, based in New York. I mean, that is right in line. Jonathan Webb, CEO, AppHarvest: AgTech Farming for Our 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 We're building large facilities to grow fruit and vegetables running completely on recycled rainwater using LED lights, software, and sensors. The Motley Fool recommends AppHarvest, Inc. The estimated value when the deal closes will be about a billion dollars for the company. Jonathan Webb is the Founder and CEO of AppHarvest, a company that combines conventional agricultural techniques with cutting-edge technology to address key issues including improving access for all to nutritious food, farming more sustainably, building a homegrown foods supply, and more. It's therefore worth looking at AppHarvest's earnings history below. It means being a little bit more upfront with your investors. Offers may be subject to change without notice. People don't leave purpose-driven companies, AppHarvest CEO says Growing up in Appalachia, Jonathan Webb watched the slow decline of the coal industry firsthand. That greenhouse is just the proof of conceptAppHarvest has broken ground on two more that will be just as impressive. While living in Washington D.C. developing sustainable energy farms, Jonathan researched another type of farming the Netherlands and its high-tech greenhouses that in a single acre yield as much as 10 outdoor acres and virtually eliminate the use of chemicals. The SPAC opportunity, let you, I think, become a publicly traded company maybe sooner than you really felt like you needed to. WebGet Givens McNeill's email address (g*****@windstream.net) and phone number (972988.) at RocketReach. 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. Its easier than ever to find a trustworthy doctor. What's your competitive advantages or something you feel differentiates you from your competition? But if you look at all the problems in the agriculture system, this industry really solves most of those problems. We're selling to Kroger, we're selling in fast food chains like Wendy's. Also referred to as blank check companies, the mechanism has existed for several years but has received increased attention of late. That's our headquarters. They ask themselves, Did we help five people today? Follow Yahoo Finance on Twitter, Instagram, YouTube, Facebook, Flipboard, and LinkedIn. Were building important stuff with long-standing value, so the Great Resignation has actually helped us acquire talent.. Again, if we look at agriculture, there's a lot of trouble in our current agriculture system and we can use ESG metrics to clean up our food supply and create better food systems. WebGet Chad Hill's email address (c*****@appharvest.com) and phone number at RocketReach. WebJonathan Webb, CEO, AppHarvest: AgTech Farming for Our Planets Future. The president and CEO, Paul Mastronardi said, "We want every AppHarvest tomato they can grow. 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. We've had record amounts of rainfall. I think you really keyed in on something important there, a 30-year journey. We thought in order to build an organization that's going to be selling to the top grocers. I mean I'm glad you keyed on the fact this is a global situation, it's a global issue. My competition in Mexico, you have people getting paid $5 a day. We have high demand for U.S.-grown and pesticide-free produce already, and when you combine that with the taste, color, and freshness of the AppHarvest model, on top of their social mission, it's driving our customers to ask for more." You mentioned your children. Webb founded it in 2017 in his native Kentucky; it became a certified B Corp two years later. "Tech for good the consumer wants it. I'm one of those people growing up I went to public schools here in Kentucky.
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