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The world's food and agriculture problems are not going to be solved overnight. 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. 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. 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. WebFounder & CEO, AppHarvest 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. You look at California and the Southwest of the U.S., drying up, drought-stricken, flagged by wildfires. And because of the work they are doing, those companies will be able to hire the brightest people, despite resignation trends. I fundamentally do not think its a tradeoff. Copyright 2023 Surperformance. Which is important, because AppHarvest employs well over 300 people in its Morehead facility alone. One, our geographic location. "We see this as a couple-decade journey, and really, we're in our first decade," Webb told Yahoo Finance's Julie Hyman at the 2022 SXSW Conference (video above). AppHarvest is known for its approach to CEA, which Webb called the "third wave of sustainable infrastructure." Cost basis and return based on previous market day close. Notify me of follow-up comments by email. The same way there won't be one energy company powering the world. Moser: Well, you said it on the call. Linked companies : AppHarvest, Inc. Summary. Webb was also the first LPGA player to win $1 million in a single season, finishing first on the year-end money list. What is AppHarvest to you? Growing up in Appalachia, Jonathan Webb watched the slow decline of the coal industry firsthand. How do you feel about coming public a lot earlier than you probably would've normally? But with that said, what we have at AppHarvest is fairly unique. I think that's going to be something that just continues to get into the public's mind. Let's let the consumer of our product also be the buyer in our company. We are about to plant our first crop in a 60-acre, controlled environment, chemical-free farm. To me, at least, it feels like we are at the [] of a disruptive phase here, and a lot of that is thanks to technology. Webb is one of very few knee surgeons to have played for both the England-France national teams. Jonathan Webb was born on 24 August 1963, in London, England. One of AppHarvest's Crop Care Specialists operates a tomato-picking robot. Going down, scanning the plant, pest, is there a disease, brightness? In 1985, he joined Bristol Rugby and won the John Player Cup. Were building important stuff with long-standing value, so the Great Resignation has actually helped us acquire talent.. There has been nothing more impactful on farming since that time, and now, it's AI robotics and using data to make decisions. Do the hard work to create shareholder value now while also looking out for shareholders two decades from now, Webb said is his credo. Originally from Kentucky, Webb is dedicated to sustainable projects in Central Appalachia. But its confident in its approach. Amid the verdant rolling hills of central Kentucky, in the heart of Appalachian coal country, youll We're ramping up and scaling quickly. Below, we look at some of his most popular tweets. 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. 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. As founder and CEO of AppHarvest, Ive been listening to a podcast called The Future of Farming and Investing, where Jonathan Webb discusses how AppHarvest has built a three-million-square-foot indoor farm, twice as large as Amazons largest distribution center. It doesn't need to be one or the other, it needs to be both, and we're happy to be a bit of a public benefit corporation and B Corp certified. His grandmother grew up in Whitley County, where a coal mining accident killed his great-grandfather. Now, our job is to make sure it's at around the same price. 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 is recovering from a challenging third quarter, in which it reported a net loss of over $17 million; Webb attributes it to hyper-growth. [laughs] This is something I'm very passionate about. I want to figure out what I can do, as CEO, to ensure everyone has the resources to succeed. We dont have two planets though, so Webb got creative. By locating within Appalachia, the company is also less than a days drive to more than two-thirds of the U.S. population. I'm one of those people growing up I went to public schools here in Kentucky. 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. My competition in Mexico, you have people getting paid $5 a day. AppHarvest knows its far from being the only player in the CEA game. Well, I mean speaking of a publicly traded company, you just released your first-quarter results, and I think this was your first full quarter as a publicly traded company. He acknowledges that scaling up so quickly in the middle of a pandemic is, almost unheard of in the current world. Later, in 1993, he relocated to the United Kingdom, where he completed his LLM. Jason Moser: It's Wednesday, May 26th, I'm your host, Jason Moser, and we've got a terrific interview to share with you on this week's Wildcard Wednesday show. "Tech for good the consumer wants it. "And we don't think we could do that if we weren't in the public markets.". Karrie, on the other hand, has not disclosed her salary or income. What makes AppHarvest so unique? The private markets can be a part of every solution we have that we're seeing today. By being able to have robotics and AI they can have more real-time information. Again, for their CEO, for their team to say to them not just about money, we can have more impact at scale with AppHarvest and achieve our mission and achieve our goals by working together. WebAppharvest (: ) is owned by 29.32% institutional shareholders, 30.67% Appharvest 40.01% retail investors. But if you look at all the problems in the agriculture system, this industry really solves most of those problems. Thats why AI scares people, we know tech can be used just as coldly as anything else. When people and robots work together, its actually more productive than robots alone or people alone. On a traditional farm, there are a seemingly infinite number of tasks to do at any given moment, so adding some computers to make it more efficient doesnt mean that human farmers will be anywhere near obsolete any time soon. ESG should be at the core of profitability and it should be at the core of building a resilient company. In the 1987 Rugby World Cup, Webb made his debut for England. Jonathan Webb is a specialist knee surgeon and a former English rugby union fullback. Follow Yahoo Finance on Twitter, Instagram, YouTube, Facebook, Flipboard, and LinkedIn. We're ramping up this first facility in the middle of a global pandemic, we had an ice storm. You said that we're a technology company working to disrupt agriculture. All Rights Reserved. AppHarvest, which went public in February in an IPO that brought it $475 million in gross proceeds, is an ambitious venture. But then what have we done with Root AI? 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. We can better understand what product we are going to have available? Moser: Yeah. We have one farm right now thats 2.8 million square feet. I mean, that is right in line. We've had one of our wettest decades on state record. That might sound straight from science fiction, but AppHarvests CTO Josh Lessing, who designed many of these universal harvesting systems says we only think that because farming has been so slow to innovate. Jonathan Webb, a specialist in knee surgery, was once a prominent player on the English rugby team. Why? 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. In the 1992 Five Nations, England won the title back-to-back for the first time since 1924, thanks to Webbs brace. Founder of AppHarvest, Inc., AppHarvest Morehead Farm LLC and AppHarvest Operations, Inc., Jonathan Webb is an entrepreneur who is Chairman & Chief Executive Officer of AppHarvest, Inc. and Chairman & Chief Executive Officer of AppHarvest Operations, Inc. (a subsidiary of AppHarvest, Inc.). They have 10% of the world's freshwater. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. When is it going to be able to ship? Before founding AppHarvest, Jonathan worked with the U.S. Department of Defense on the largest solar project in the Southeastern United States. I mean, all of the stuff that you just talked about really does matter. He played against Australia on 23 May. The greenhouse will cost $97 million and span 60 acres. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. WebJonathan Webb grew up in Kentucky and has been committed to developing sustainable projects from Central Appalachia. By us running on completely recycled rainwater, we have no water cost. 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. It sounds like there's a lot of potential there. Jonathan was named one the Top 30 Most Influential Lawyers in Washingtonians 2018 list upon graduation. He is an ex-rugby player who represented England from 1987 to 1993, reaching the World Cup Final and winning two Five Nations grand slam titles. Most people every day are just concerned about can they put food on the table? It's so cool to think about what you guys are doing there. We arent burning through cash with pointless R&D when we can buy incredible technologies over in the Netherlands, Webb says. Follow her on Twitter at @BrookeDiPalma or email her at bdipalma@yahoofinance.com. I want to talk with you about in regard to AppHarvest. I think you really keyed in on something important there, a 30-year journey. 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. I go directly into the facility and talk to entry-level employees and people sweeping the floors. His extensive experience and knowledge in the field have led to his reputation as a leading knee surgeon in the UK. Dr. Webb graduated at the University of California San Diego School of Medicine. You may opt-out by. AppHarvest (APPH) CEO Jonathan Webb said the company has its eyes on the long term as it looks to "institutionalize" controlled environment agriculture (CEA). Were investing heavily in our future, so were spending heavily today, he said. Your email address will not be published. Webb grew up in Kentucky, and founded AppHarvest in 2017 after years in the solar development industry, based in New York. Webb grew up in Kentucky, and founded AppHarvest in 2017 after years in the solar development industry, based in New York. 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. A former England international, he reached the World Cup Final in 1991 and was a two-time grand slam champion in the Five Nations. This is a BETA experience. Investors look at that, Peter Halt, AppHarvests newly appointed chief financial officer, told AFN. It means being a little bit more upfront with your investors. What's your competitive advantages or something you feel differentiates you from your competition? I made the point at one point in regard to AppHarvest. We can have all the technological tools in the world, but at the end of the day we have to put people at the center of the equation.. Use our online form to book an appointment with Dr. Webb. Age : 37. 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. We've had record amounts of rainfall. People, planet, wonderful, but I'm trying to make money. That's not the conversation at all. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. 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 I have a 16 and then going on 15-year-old daughters. Yes, we're using nature for what it's good. But I wonder, is there something to your mind? 2023 Fortune Media IP Limited. I'm sitting in the heart of coal country right now. WebThe following charts show the stock performance of securities subsequent to each open-market, non-planned trade made by Jonathan Webb. We dont see it as losing money for losing moneys sake; developing that tech is investing in our future.. Talk a little bit about what ESG means to you and some of the things that you've done, because corporately you set your business up to be able to account for some of that transparency and whatnot. Jonathan Webb's Appharvest shares are currently valued at $20.96M. 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! Founder & CEO at AppHarvest. Webb, a Kentucky native and University of Kentucky graduate, says he remains committed to his goal of employing large numbers of people at high-tech farms around the eastern half of the state. Why is that important? A specialist in knee surgery, Webb has performed countless surgeries in elite rugby union teams. I want to know what the problems are from them, not just our executive team. 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. 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. There's a level of rigor that comes with that, and so for us, the SPAC was just a vehicle. You've had fast-food chains, that is one of the biggest risk to a grocer is the paranoia and being terrified of where that product is being grown. All of our water is captured on our roof. This helped the Army reach its goal of 20% renewable energy by 2025. Jonathan Webb is the Founder and CEO of AppHarvest, a company that combines conventional agricultural techniques with cutting-edge technology to address But the futuristic pieces, we've combined a technology team with a great plant science group. But one thing we'd like to talk about is competitive advantage, what makes a company special? Then Jeff Obin, who is on our board and has been an early investor. We have a lot of work to do ahead of us over the years to come. I watch them, I watch their friends, the things that they care about. We had 22 meetings and had almost 20 yeses. Very few passed on this deal and we eventually had to cancel meetings., Webb describes the SPAC transaction and PIPE financing experience as absolutely phenomenal.. Eventually, he found the right problem to solve. It made good logistical sense since Kentucky is within a days drive of 70% of the United States, plus there was an untapped labor force there ready and waiting to be hired. It is a non-profit organization that provides education and social services to low-income residents living in low-income apartments. This article will briefly review the most important information. 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. By the end of next year, well quadruple that. Jonathan has a Bachelors degree from the University of Kentucky in Business. 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 We want to be selling to 90% of America. Thank you for your continued support. 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. No. Learn More. I'm looking forward to being able to find more and more of these AppHarvest products in our grocery stores as we move forward. No one else in America is doing something at that scale. Webb made a second appearance for England, and reached the final. The regulators are pushing that direction. 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