Jonathan Webb poses in front of his giant greenhouse, When you look at human civilization, what do you need? Get the latest news and research from AFN & AgFunder in your inbox. I write about the future of food, business, and culture. WebGet Chad Hill's email address (c*****@appharvest.com) and phone number at RocketReach. That's right -- they think these 10 stocks are even better buys. He has many impressive accomplishments. Webb founded AppHarvest in 2017, and the company was certified as a B Corp two years later. I've tried to say, we have a team that looks at this as this is our 30-year journey here at AppHarvest. They can be competitive. No. Webb grew up in Kentucky, and founded AppHarvest in 2017 after years in the solar development industry, based in New York. He is a senior partner in the shipping litigation practice group, focusing on hull insurance claims, charter party disputes, and dry shipping issues. in August is launching what it describes as the worlds largest greenhouse later this year, consisting of a 2.76 million square foot facility in Morehead, Kentucky. 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. *Average returns of all recommendations since inception. AppHarvest CEO envisions 'couple-decade journey' after going public Its easier than ever to find a trustworthy doctor. You have to get permitting, communities [buy-in], state and federal support, infrastructure, inspections. Thanks as always to Tim Sparks for putting the show together for us. That to me, was in a nutshell what it's all about. 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. Offers may be subject to change without notice. The project aimed to help achieve an Obama-era goal of ensuring the militarys hundreds of installations develop resilient on-site power generation and receive 20% of their electricity from renewable sources by 2025. We have a phenomenal team of sustainability experts. Those are always famous last words as we move into some disruptive phase. 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. 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. 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. 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. Of course, the future is what really matters. I think you really keyed in on something important there, a 30-year journey. There are many sources of information on Jonathan Webbs networth. Yes, today, we met our quarterly earnings projection, we hit our guidance, but we're making the hard investments and spending the hard time to set an organization up that's going to thrive 10 and 20 years from now. Then Jeff Obin, who is on our board and has been an early investor. Before founding AppHarvest, Jonathan worked with the U.S. Department of Defense on the largest solar project in the Southeastern United States. That's because of our inefficient systems in the supply chain. This commitment, at $10 per share, values the company at $1 billion. Thank you for accessing our content on the Topio Networks Market Intelligence Center. ESG should be at the core of profitability and it should be at the core of building a resilient company. Again, for us, it's about keeping our head down, growing good fruit and vegetables. Thats why AI scares people, we know tech can be used just as coldly as anything else. Powered and implemented by Interactive Data Managed Solutions. Like every Kentuckian, Jonathan grew up knowing of the devastating job losses in the region. 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. For the fourth quarter AppHarvest is an indoor farming company, so has massive greenhouses As part of that, in order to bring trust and transparency to agriculture, you have to be a public company. I fundamentally do not think its a tradeoff. There has been nothing more impactful on farming since that time, and now, it's AI robotics and using data to make decisions. Were investing heavily Investors look at that, Peter Halt, AppHarvests newly appointed chief financial officer, told AFN. Let's force that rigor early. On Twitter, the actor shares his personal experiences with his followers. Jonathan Webb is a specialist knee surgeon and a former English rugby union fullback. This is still a very new space though. But I wanted to ask you before we do, the Root AI acquisition. 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. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice| Do Not Sell/Share My Personal Information| Ad Choices The same way there won't be one energy company powering the world. Other AppHarvest investors include TV cook Martha Stewart, VC veteran Peter Thiel, ValueAct Capitals Spring Fund, Revolutions Rise of the Rest Seed Fund, Equilibrium Capital, and Narya the new VC firm co-founded by JD Vance, author of best-selling Appalachian memoir Hillbilly Elegy. Jonathan Webb: AppHarvest, we're based here in Central Appalachia and we're building some of the world's largest controlled environment agricultural facilities. 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. In 1985, he joined Bristol Rugby and won the John Player Cup. I did want to know here because I saw this in the earnings release and I just thought it was one of those quotes that stood out to me from Mastronardi, your distributor. Then we have to remember this isn't just a U.S. problem we're trying to solve. If you look at the grocery and then you go, wait a second. Other AppHarvest investors include TV cook Martha Stewart, VC veteran Peter Thiel, We are about to plant our first crop in a 60-acre, controlled environment, chemical-free farm. Almost every company in the coal industry has gone bankrupt over the last 10 years. A universal harvester robot at AppHarvest's Morehead, Kentucky greenhouse, AppHarvests crops are monitored for quality control 24/7 and harvested robotically, a labor-saving advancement that lets the staff treat farming almost like a manufacturing process. The private markets can be a part of every solution we have that we're seeing today. These food companies today are like the cigarette companies 40 years ago. We don't want to be selling just to the high-end. Webb supported a large-scale solar project in Virginia while he was employed by the U.S. Department of Defense. If I'm a grocer and I'm saying U.S.-grown in a controlled environment we solve for all that. You've taken a lot of steps early on in the development of your business to address a lot of those ESG concerns. 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 sources by leveraging private sector capital for the projects. Most countries in the Middle East import nearly all of their fruit and vegetables. The High Stakes of the Roundup Cancer Lawsuit: Why Billions of Dollars are on the Line, 5 Ways to Get Money for Investment Property. I feel like with AppHarvest, at least, my takeaway, I found a lot of things that make you all special. Webb: We could not be more excited. This article will briefly review the most important information. Earlier this year we did get listed on the Nasdaq. Which is important, because AppHarvest employs well over 300 people in its Morehead facility alone. "For us, being transparent with not only the consumer, but having that transparency of a public company as we build a large global food company, we think the long-term benefits are great.". What are you trying to accomplish? Its first crop will be non-GMO tomatoes, which will be provided to a number of US grocers. 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. 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'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. But then it's pulling technology in to drive nature from behind. But its confident in its approach. But the journey hasnt been without pitfalls. This is a BETA experience. Jonathan Webb, a specialist in knee surgery, was once a prominent player on the English rugby team. After serving as an assistant public defender in Marylands Office of the Public Defender, Webb joined Ethridge Quinn for 2020. 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. 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. But really its water and food first. Announces Separation of Julie Nelson as Chief Operating Officer Nov 16 Price target decreased to US$5.33 Nov 16 See more updates Shareholder Returns See full shareholder returns Return vs Industry: APPH underperformed the US Food industry which returned Jonathan Webb, CEO of agricultural technology and indoor farming startup AppHarvest, wants investors and founders alike to know that he doesnt struggle to balance purpose and profit; if a company loses track of the former, its only a matter of time until it loses the latter. It's about getting the industry to turn the corner at scale globally," Webb said. Webb: Regulators are pounding on them, consumers are pounding on them. Here are five relaxing scents you can use in your bedroom. To make the world smarter, happier, and richer. Are we perfect? Because it is cutting-edge technology. Many of our early investors have been very helpful with the company, and we knew that we are not just building one facility, we're building an organization that's going to go toe-to-toe with agriculture and food, globally.