Then by the end of the year in 2022, we'll have five facilities operating. A specialist in knee surgery, Jonathan Webb was a rugby union fullback for the English national team from 1987 to 1993. And because of the work they are doing, those companies will be able to hire the brightest people, despite resignation trends. Maintaining that inclusive work culture, especially since he works in agriculture, is incredibly important to Webb, who aims to do everything from a place of empathy and considers his employees to be his first customers. Below, we look at some of his most popular tweets. Because it is cutting-edge technology. Again to some of your viewers that aren't aware of Root AI just look them up and take a look at some of those videos. 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 You can also compare Dr. Webb with other orthopedic surgeons in Eau Claire to find the one that best suits your needs. 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. 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. 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 We want to be selling to 90% of America. Are you going to have drought? The method of farming uses technology like artificial intelligence and robotics to grow fruits and vegetables, producing 30 times the yield of traditional farming while using 90% less water, the company claims. 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. You are speaking our language here at The Fool. But its confident in its approach. You have to get permitting, communities [buy-in], state and federal support, infrastructure, inspections. I mean, I think that kind of speaks for itself. Were building robotics and software that will ultimately be able to service the entire global agriculture industry. When is it going to be able to ship? We need to change the profits versus purpose narrative; purpose drives profit and, ultimately, is what makes an organization durable and resilient for decades to come, Webb told Fortune. 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 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. 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? AppHarvest is an indoor farming company, so has massive greenhouses That's our headquarters. The applied technology company is developing and operating some of the worlds largest high-tech indoor farms. The show also discusses the benefits of Martha Stewart being on their board and how they plan get their products onto shelves. I know you're in the DC area. Webb founded AppHarvest in 2017, and the company was certified as a B Corp two years later. This year alone, more than 50 SPACs have been formed in the US, collectively raising. AppHarvest raised over $475 million in a public IPO, but it is not over. Moser: That's exciting. But I think there are a lot of benefits that come with that. What makes AppHarvest so unique? Project Access, Inc. was founded by Mr. Webb in 1999. 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. 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. 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. I watch them, I watch their friends, the things that they care about. To learn more about AppHarvest, you can visit appharvest.com. Jeff Ubben, Inclusive Capital Partners founder and AppHarvest investor, and Jonathan Webb, AppHarvest CEO, join 'Closing Bell' to discuss what makes AppHarvest That's, for us, again, there's a piece where we need to be very close to the product and that's we're optimizing for the plant. There won't be one automotive company transporting the world. WebJonathan Webb. "In less than You can also follow him on Instagram. Accomplish what they wanted to pursue? If were all doing that, we have a pretty phenomenal organization.. 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're ramping up this first facility in the middle of a global pandemic, we had an ice storm. I have no doubt that we will. I think it's clear that investors should really be excited for the future of AgTech. What's the technology that you are looking toward to help you change this space? There's going to be a lot of companies hopefully working to solve our food and agriculture problems. I feel like with AppHarvest, at least, my takeaway, I found a lot of things that make you all special. The private markets don't need to be a part of the problem, but we can't just be quarterly earnings focused. I think that's going to be something that just continues to get into the public's mind. As I was listening, there was a quote, you said, "We are farmers and futurists." 2023 Fortune Media IP Limited. In the 1987 Rugby World Cup, Webb made his debut for England. There's a level of rigor that comes with that, and so for us, the SPAC was just a vehicle. WebJonathan Webb, CEO, AppHarvest: AgTech Farming for Our Planets Future. We are about to plant our first crop in a 60-acre, controlled environment, chemical-free farm. Despite the off quarter, Webb has much to celebrate. The regulators are pushing that direction. AppHarvest is known for its approach to CEA, which Webb called the "third wave of sustainable infrastructure." No, weve made some mistakes. 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 think we have seen some other players in the space that are starting. 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. AppHarvest has invested in a 2.76million-square-foot greenhouse in Morehead (Ky.) to help meet this goal. Karrie, on the other hand, has not disclosed her salary or income. His extensive experience and knowledge in the field have led to his reputation as a leading knee surgeon in the UK. He has also held roles in movies and television series. 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. Who were the most active food and agriculture technology venture capital firms in 2022. 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. Well, you need water you need food, and you need energy. We need to all collectively have a much more longer-term viewpoint on how we're building companies that are going to be good for communities, good for employees, and return a good return to our investors and shareholders. WebJonathan Mark Webb net worth is $800,000 Jonathan Mark Webb Wiki: Salary, Married, Wedding, Spouse, Family Jonathan Webb is an actor, known for Graffiti Bridge (1990), In Since joining HFW in 2004, Mr. Webb has specialized in P&I and FD&D for ship owners. "For us, at AppHarvest, this isn't just about a company. But to our investors the question and I got this on the roadshow, I'm in this to make money, great. 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. 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. Did we help them reach their goals? Webb was named a World Rugby Council RFU representative in 2016. 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, . We have a phenomenal growing team. What's your competitive advantages or something you feel differentiates you from your competition? more. ESG should be at the core of profitability and it should be at the core of building a resilient company. So the problem at a macro level just started with hearing the statistic [that humanity will need] 50% to 70% more food by 2050. Were investing heavily in our future, so were spending heavily today, he said. To do that and look out for the long term is true sustainability, or resilience., Webb, who began his career developing renewable energy projects for the U.S. Army, believes any company is either part of destroying the planet or part of rebuilding its industry to align with the planet: I think its our obligation as CEOs to build companies that create long-standing values.. We've moved most of our fruit and vegetable production down to Mexico and we're importing and shipping in 2,000 miles. 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. Cell ag experts weigh in, Keep calm and carry on: Navigating the trough of disillusionment for plant-based meat, Its been a very dark week Miyoko Schinner hits back as company accuses her of hatching plot to steal IP, With $3bn in deals, top 10 climate x agrifoodtech startups prove themselves a vital part of climate tech ecosystem, BII eyes full-stack startups, ag marketplaces & embedded financing as it earmarks funds for Africa, Smoke & mirrors, not worth the extra cost: 50 US farmers speak out on carbon markets. I was hoping maybe we could talk a little bit about that idea that you're farmers and futurists. Look at how many times in the last few years you've had leafy greens yanked off store shelves. Earlier this year we did get listed on the Nasdaq. As investors were looking for the biggest market opportunities we can find, market opportunities that are growing. Sustainable investor Equilibrium We just want to be one of those and we're cognizant that there's going to be plenty of large players. We could've raised capital privately on the balance sheet and kept building. The nonprofit organization he founded is still in operation today, and he continues to serve as Board Chair. Follow him on Twitter to get more updates. 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. We want to make sure you get the most out of our platform. Its easier than ever to find a trustworthy doctor. Look at the open fields in Mexico. Its flagship facility is a 60-acre indoor farm in Morehead, a town of 8,000 in the foothills of the Appalachian Mountains, and it solely uses rainwater for its irrigation. We can get to 70% of the U.S. in a one-day drive. He holds a legal degree from the University of Natal as well as the University of Cape Town. We talk about how, I mean, all of the stuff that you just talked about really does matter. Consumers are pushing back. Amid the verdant rolling hills of central Kentucky, in the heart of Appalachian coal country, youll I hope you enjoy our conversation. I think you really keyed in on something important there, a 30-year journey. Webb is an expert in reconstructive and arthroscopic surgery. He acknowledges that scaling up so quickly in the middle of a pandemic is, almost unheard of in the current world. We're investing in our workforce. Investors look at that, Peter Halt, AppHarvests newly appointed chief financial officer, told AFN. Moser: Yeah. A full transcript follows the video. How excited are you to bring that Root AI company in their leadership into your family? These food companies today are like the cigarette companies 40 years ago. 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. The Motley Fool has a disclosure policy. It feels like this is something that really is just getting some traction here. Later, in 1993, he relocated to the United Kingdom, where he completed his LLM. 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. He has successfully completed over 200 operations using the Mako machine. They have 10% of the world's freshwater. His vision of the future of farming and much, much more. That's right -- they think these 10 stocks are even better buys. Ten years ago, Tesla made electric vehicles popular in the mainstream, and right now, it's controlled environment agriculture. 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. Jonathan Webb: AppHarvest, we're based here in Central Appalachia and we're building some of the world's largest controlled environment agricultural facilities. If you look at the grocery and then you go, wait a second. I want to figure out what I can do, as CEO, to ensure everyone has the resources to succeed. Moser: Yeah. I've tried to say, we have a team that looks at this as this is our 30-year journey here at AppHarvest. 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. He played against Australia on 23 May. 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. Webb is a highly-respected knee surgeon in the United States. Again, if you look at the U.S. right now, this is a USDA statistic, nearly 40% of fresh fruit and vegetables end up in a landfill. WebThe following charts show the stock performance of securities subsequent to each open-market, non-planned trade made by Jonathan Webb. The president and CEO, Paul Mastronardi said, "We want every AppHarvest tomato they can grow. 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. You have labor concerns. AppHarvest raised $500 million on its balance sheet this year, went public on the Nasdaq, hired 400 people to work in its first facility, and brought its first product, beefsteak tomatoes, to grocery stores including Kroger, Walmart, and Publix. Were building important stuff with long-standing value, so the Great Resignation has actually helped us acquire talent.. The Great Resignation has not affected AppHarvest, because people who were leaving companies were leaving worthless companies that added no value to society, or were destroying society, Webb said. Invest better with The Motley Fool. When he says sustainable, he doesnt just mean that in an environmental sense. 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. That's how quickly the energy industry shifted. He studied history and economics at the University of Cape Town, and obtained a Bachelor of Laws and post-graduate diploma in maritime law from the University of Natal.
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