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It's therefore worth looking at AppHarvest's earnings history below. Webb: Well, thank you and thank you for having me, and we've got a lot of work to do here, but I can assure you we're head down building and look forward to continuing the conversation another time. The private markets can be a part of every solution we have that we're seeing today. Its the single largest LED installation in the United States despite using constant passive solar, waters its plants using recycled rainwater, employs an integrated pest management system to avoid any pesticides, has a 30x higher production yield than traditional open field agriculture, and has the ever so modest goal of transforming the future of agriculture. You have to get permitting, communities [buy-in], state and federal support, infrastructure, inspections. Europe, Menlo Park, China), Where the person is located (e.g. Investors look at that, Peter Halt, AppHarvests newly appointed chief financial officer, told, Step aside, alt-protein: Bioplastics are the real agrifoodtech opportunity, The rise of the reused machines: Germanys E-Farm raises $5.3m Series A. ", "It's easy to be a CEO that's looking for the next three months," Webb stated. WebGet Givens McNeill's email address (g*****@windstream.net) and phone number (972988.) at RocketReach. In the back of his mind, he wondered what he could do to help. Investors Dig Into AppHarvest | The Motley Fool - Nasdaq 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. Webb, a former rugby player, has a wealth experience and is now helping players return to the sport they love. We have one farm right now thats 2.8 million square feet. We don't want to be selling just to the high-end. 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. David and Tom just revealed what they believe are theten best stocks for investors to buy right now and Walmart wasn't one of them! They're not going to be solved in a month or a year or a quarter and we just want to build an organization that's going to be able to go toe-to-toe with the larger incumbents out there, and the best way to do that is to have that rigor of being a publicly traded company. Very excited about the Root AI transaction. Appharvest Stock Ownership Again, for us, it's about keeping our head down, growing good fruit and vegetables. All rights reserved. Since joining HFW in 2004, Mr. Webb has specialized in P&I and FD&D for ship owners. 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. I know that you're not the only one focused on controlled environment agriculture. Russia's war on Ukraine latest: Putin casts war as battle for nation's survival, India FM Jaishankar says Soros dangerous, debate needed on democracy, Buffett's Berkshire profit falls on investments, currencies, Bill Gates buys Heineken stake, despite saying he's 'not a big beer drinker', Elon Musk recruits team to develop OpenAI rival - The Information, Hedge fund manager Chris Hohn demands Airbus drop Atos deal - letter, Elon Musk's challenge: Stay ahead of the competition, ISS urges Apple shareholders to vote for CEO Tim Cook, other execs' pay packages, Elon Musk accuses media of racism after newspapers drop 'Dilbert' cartoon, French media billionaire Niel fails with bid for TNT television frequence - Arcom. One of the things we like to discuss as investors and when we find companies, we find businesses that we like and we want to be owners of. Once operational, it will ship 45 million pounds of fresh produce annually to grocery stores in the Midwest and Southeast. 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. I don't think anybody thinks of farming from this perspective. To get started investing, check out our quick-start guide to investing in stocks. You have illegal chemical pesticides where the EPA cannot track the chemicals being used on these farms in Mexico. Webb: We've been very fortunate that some of our investors and board members, Fidelity was the largest investor in our pipe during the public process, Jeff Ubben of Inclusive Capital, our Chief Sustainability Officer, Jackie Roberts came to us from the Carlyle Group, we're all very serious about this. Jonathan Webb - Founder & CEO @ AppHarvest 95% of a fruit and vegetable is water. Then we'll be able to give that data over to the grocer in more real-time. 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. Jonathan Webb If you look at the grocery and then you go, wait a second. But I wanted to ask you before we do, the Root AI acquisition. You can also follow him on Instagram. Jonathan Webb Net Worth - Bologny Its service leadership; our team does not work for me, I work for our team., To that effect, hes imparted a lesson to each of his team members: Every day, help five people. Accomplish what they wanted to pursue? If were all doing that, we have a pretty phenomenal organization.. I was hoping maybe we could talk a little bit about that idea that you're farmers and futurists. It's a nice evolution in the investing world that we care more and more about it. What's the technology that you are looking toward to help you change this space? Moser: Yeah, I'd tell you, I think you're right. 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 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. Jonathan Webb, Founder & CEO, AppHarvest Jonathan was named one the Top 30 Most Influential Lawyers in Washingtonians 2018 list upon graduation. But if you look at all the problems in the agriculture system, this industry really solves most of those problems. Investors look at that, Peter Halt, AppHarvests newly appointed chief financial officer, told AFN. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. I encourage anyone to go out there Google Root AI and go check out the videos of what some of this stuff does. Dr. Jonathan Webb, a specialist knee surgeon at Nuffield Health Bristol Hospital, is the doctor. You mentioned your children. One, our geographic location. But I dont think thats adding value to the company, or looking out for our shareholders, he said. We're feeding our country with people in Mexico who are making $5 a day. I think you really keyed in on something important there, a 30-year journey. The first harvest at its Morehead facility is slated for early 2021. Sustainable investor Equilibrium As part of that, in order to bring trust and transparency to agriculture, you have to be a public company. All Rights Reserved. He completed a fellowship in Australia at North Sydney Orthopaedic and Sports Medicine Centre and has worked in many high-profile clinics in the area. 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, . Later, in 1993, he relocated to the United Kingdom, where he completed his LLM. But for us, it's not a back-and-forth, it's not OK, well, I'm going to invest in an ESG company and I'm going to sacrifice profitability. The president and CEO, Paul Mastronardi said, "We want every AppHarvest tomato they can grow. Founder of AppHarvest, Inc., AppHarvest Morehead Farm LLC and Let's let the consumer of our product also be the buyer in our company. He often sleeps in an RV outside the construction site of its second facility. 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 always talk about investing for the future because that's really what investing is all about. I'm Jason Moser, thanks for listening, and we'll see you next week. Webb founded AppHarvest in 2017, and the company was certified as a B Corp two years later. Jonathan Webb grew up in Kentucky and has been committed to developing Moser: That's exciting. To me, this feels like just that, a growing market opportunity that is global in nature, and really the opportunity, just getting started. Jonathan received his bachelors degree from the University of Kentucky. He is also becoming more involved with green shipping and is a council member of the London Shipping Law Centre. AppHarvest raised over $475 million in a public IPO, but it is not over. I cant say this was the exact plan but what accelerated all of this was Covid-19, AppHarvest CEO Jonathan Webb told AFN. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. 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. Because our services are focused on technology, 5G connectivity, and all of the different benefits we're going to get from that. [laughs] This is something I'm very passionate about. How excited are you to bring that Root AI company in their leadership into your family? He scored 296 points for England and played in two Rugby World Cups including the 1991 final. Part of it is we're building companies not just for today and not just for the quarterly earnings call today, we're building this company for the next generation. You have food safety concerns. He pointed out that, At NASA in the 60s, if you would go visit a facility and you walked up to a janitor and asked, What do you do here? they would say, Im working to put a man on the moon. Thats been the same mentality here Its the collective thats making this thing possible.. Non-planned trade are trades that There are many sources of information on Jonathan Webbs networth. His vision of the future of farming and much, much more. Moser: Well, you said it on the call. 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. I'm really excited to have you all as a recommendation in our service and hopefully, our members are too after talking with you today. Are you going to have drought? AppHarvest Your email address will not be published. "For us, at AppHarvest, this isn't just about a company. AppHarvest Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. But one thing we'd like to talk about is competitive advantage, what makes a company special? We use completely recycled rainwater. Yes, maybe we're paying marginally more in the short-term, but that workforce is the one that's beating production targets daily. Here are five relaxing scents you can use in your bedroom. Most people every day are just concerned about can they put food on the table? Webb started his professional career in 1989 as a Durban maritime lawyer firm. Moser: Yeah. I love your long-term focus. FORTUNE may receive compensation for some links to products and services on this website. We're a public benefit corporation, and we're B Corp certified. To learn more about AppHarvest, you can visit appharvest.com. By locating within Appalachia, the company is also less than a days drive to more than two-thirds of the U.S. population. This is becoming really a hot-button topic for a lot of investors, rightly so. 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. We want to be selling to 90% of America. I go directly into the facility and talk to entry-level employees and people sweeping the floors. Australian National University Alumni Founded Companies, Rashtrasant Tukadoji Maharaj Nagpur University Alumni Founded Companies, Seattle Pacific University Alumni Founded Companies, Regis University Alumni Founded Companies, Emory University Alumni Founded Companies, New Mexico State University Alumni Founded Companies, Oakland University Alumni Founded Companies, Oklahoma State University Alumni Founded Companies, Number of Organizations that the person founded, Algorithmic rank assigned to the top 100,000 most active People, The organization associated to the person's primary job, Where the person is located (e.g. Webb: To put this in perspective, this was our first facility under operations, our flagship facility. Jonathan has a Bachelors degree from the University of Kentucky in Business. 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. But I wonder, is there something to your mind? Opinions expressed by Forbes Contributors are their own. You may opt-out by. Jonathan Webb, CEO, AppHarvest: AgTech Farming for Our "And we don't think we could do that if we weren't in the public markets.". He also has experience in civil litigation and Title IX proceedings. Jonathan Webb - Insider Trading Tracker - Fintel Webb: Well, we built the company from day one. Running AppHarvest this way definitely creates extra workthe company even has facilitators who help employees navigate unexpected life events that might prevent them from coming to workbut its work Webb considers essential. He played against Australia on 23 May. I could be in a penthouse in New York City, managing AppHarvest from the 32nd floor of some high-rise. Fresh Take: A Make-Or-Break Food Trade Show, Inside The Food Labor Movement: An Update From Starbucks Front Lines, Its The Gourmet Toast Driving Expansion At Toastique, Fungi-Based Protein Company Meati Launches Scientific Advisory Board To Support Scale-Up, Nutrition Research, City Saucery Takes Pride In Its Ugly Tomato Sauces, By Helping The Ukrainian Community In Manhattan, Veselka Earns A James Beard Nomination For Outstanding Restaurant, French Wine Region Bourgogne Should No Longer Be Translated To Burgundy. He was born into a medical family. In the latter, Webb was the only English player to score in the game. It sounds like there's a lot of potential there. We dont talk about this at all in the US. 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. Amid the verdant rolling hills of central Kentucky, in the heart of Appalachian coal country, youll Age : 37. Offers may be subject to change without notice. Well, you need water you need food, and you need energy. Theyre looking for purpose in their life; theyre looking for companies like us.. We're in our first decade and we're going to try to look at judging the company on decade one, decade two, and decade three. Webb: The industry is at an inflection point. Webb is from Kentucky, where 16% of residents are We're building large facilities to grow fruit and vegetables running completely on recycled rainwater using LED lights, software, and sensors. 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. Jason Moser has no position in any of the stocks mentioned. I mean, all of the stuff that you just talked about really does matter. I was very fortunate. AppHarvest is a unique and compelling investment opportunity that is redefining American agriculture by improving access for all to fresh non-GMO produce, growing more with fewer resources, and creating an agtech hub from within Appalachia, Novus chairman Bob Laikin said in a statement. He has over 100 civil and criminal jury trials and has represented clients in counties across Georgia. But then it's pulling technology in to drive nature from behind. ET More on the future of agriculture and vertical farming innovator 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. 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. His military experience allows him to leverage private capital for his projects. ESG should be at the core of profitability and it should be at the core of building a resilient company. Jonathan Webb poses with celebrity investor Martha Stewart and some of his signature tomatoes. 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. Notify me of follow-up comments by email. These food companies today are like the cigarette companies 40 years ago. 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. We're ramping up and scaling quickly. Jonathan Webb is a specialist knee surgeon and a former English rugby union fullback. Good CEOs do both., Given the rapidly worsening climate outlook, all founders should focus on building a business that will be more powerful in 30 years than it will in 30 days, he said. Yahoo Finance's Julie Hyman at the 2022 SXSW Conference, 3 big things in investing you might have missed this week, UPDATE 1-North Korea says US causing international arms control collapse, EU releases funds, prepares aid flight for eastern Congo, Rheinmetall in talks on building tank factory in Ukraine - report, Ukraine Latest: Metsola Urges More Sanctions Pressure on Russia. If you look at AppHarvest, what are we doing? AppHarvest: Transforming The Future Of Agtech, And Maybe The That world will look pretty different from the one we live in now, but Lessing assured me that even as AI gets firmly integrated into agriculture, AppHarvests robots are, fundamentally collaborative.