If I were an investor, Id want my CEO on the ground with the team, not just in an office tower, he said. He was born into a medical family. 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. When is it going to be able to ship? We don't want to be selling just to the high-end. Public asset : 44,698,475 USD. Jonathan Webb was born on 24 August 1963, in London, England. For the fourth quarter Jonathan Webb, CEO, AppHarvest: AgTech Farming for Our I pay attention to my kids. Powered and implemented by Interactive Data Managed Solutions. Webb made a second appearance for England, and reached the final. 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. All rights reserved. Jonathan Webb is a specialist knee surgeon and a former English rugby union fullback. 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. What's the technology that you are looking toward to help you change this space? FORTUNE may receive compensation for some links to products and services on this website. 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. Webb Net Worth 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 there's the other side, and introducing robotics that's operating on AI, that's collecting data in our facility and making data-driven decisions. One, our geographic location. 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. Moser: Yeah, absolutely. Earlier this year we did get listed on the Nasdaq. It's nearly impossible to have full transparency. We just want to be one of those and we're cognizant that there's going to be plenty of large players. 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. 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. The Motley Fool has a disclosure policy. I cant say this was the exact plan but what accelerated all of this was Covid-19, AppHarvest CEO Jonathan Webb told AFN. Is that drought going to impact yield and you don't end up being able to get product to the grocery store? Webb founded AppHarvest in 2017, and the company was certified as a B Corp two years later. WebAppharvest (: ) is owned by 29.32% institutional shareholders, 30.67% Appharvest 40.01% retail investors. The history of the world is in many ways the history of technology, and of our reactions to it. 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. Follow him on Twitter to get more updates. Jonathan Webb, a specialist in knee surgery, was once a prominent player on the English rugby team. The president and CEO, Paul Mastronardi said, "We want every AppHarvest tomato they can grow. Jonathan Webb - Insider Trading Tracker - Fintel This will result in a $1.7 billion return of investment for the company. 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. Project Access, Inc. was founded by Mr. Webb in 1999. We've moved most of our fruit and vegetable production down to Mexico and we're importing and shipping in 2,000 miles. By being able to have robotics and AI they can have more real-time information. What is AppHarvest to you? All of our water is captured on our roof. 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. 95% of a fruit and vegetable is water. Founder & CEO at AppHarvest. AppHarvest has invested in a 2.76million-square-foot greenhouse in Morehead (Ky.) to help meet this goal. Instead of just being able to tell a grocer 24-hours in advance here's the quality of product and here's when it will be shipped, with robotics going down the rows scanning the plants, we'll be able to get to days out and weeks out of being able to predict the yield, predict the quality, give more information to the grocer on when that product is going to be coming. 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. Very excited about the Root AI transaction. People at large tech companies question what theyre actually building. We have one farm right now thats 2.8 million square feet. I go directly into the facility and talk to entry-level employees and people sweeping the floors. Growing up in Appalachia, Jonathan Webb watched the slow decline of the coal industry firsthand. Ten years ago, Tesla made electric vehicles popular in the mainstream, and right now, it's controlled environment agriculture. With that difficult work that in mind, Webb has designed his company to grow as much produce as possible as sustainably as possible. 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. We want to make sure you get the most out of our platform. Webb is a consultant orthopaedic physician and a board member of World Rugby. 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. 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. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Non-planned trade are trades that We're building large facilities to grow fruit and vegetables running completely on recycled rainwater using LED lights, software, and sensors. Jonathan Webb is an actor with a large following on Twitter. 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.. ESG should be at the core of profitability and it should be at the core of building a resilient company. Webbs England career totaled 67 points, breaking Hodgkinsons 60-point record. 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. WebThe following charts show the stock performance of securities subsequent to each open-market, non-planned trade made by Jonathan Webb. 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. 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. Jonathan Webb is the Founder and CEO of AppHarvest, a company that combines conventional agricultural techniques with cutting-edge technology to address Look at how many times in the last few years you've had leafy greens yanked off store shelves. Tomatoes will be the first fruit rolling out of AppHarvest's soon-to-launch facility in Morehead, Kentucky. Visualize our facility in Murray, Kentucky, it's 2.8 million square feet, nearly 50 football fields under-glass. It sounds like there's a lot of potential there. 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? We love DC, but we don't want to just be selling to the high-end restaurants in DC. 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. Thank you for your continued support. AppHarvest sold to the top 25 U.S. grocers. 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. Despite IPOs last year having the worst returns in a decade, Webb said he believed 2021 was an important time for the company to go public and stood by the decision to take the company's mission "directly to the Street" and to receive the "rigor of Wall Street early," which he claimed will only make the company "stronger in the long run.". Jonathan Webb is the largest individual Appharvest shareholder, owning 20.54M shares representing 19.04% of the company. Webb: Well, we built the company from day one. My background was a part of building some of the largest solar projects in the U.S. David Lee, who joined us from Impossible Foods, joined impossible foods five years ago as their CFO and COO raised them nearly over $1 billion in the last five years and turned them into what was a boutique idea, into a mass-market product on store shelves. You start to do the math, and realize you might need two planet earths to have enough land and water to grow that food.. Buy These 2 Stocks in 2023 and Hold for the Next Decade, Warren Buffett's Latest $2.9 Billion Buy Brings His Total Investment in This Stock to $66 Billion in 4 Years, Prediction: These 3 S&P 500 Stocks Will at Least Double in 7 Years, Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Copyright, Trademark and Patent Information. In order to do that, you have to have rigor. "Tech for good the consumer wants it. We talk about how, Webb grew up in Kentucky, and founded AppHarvest in 2017 after years in the solar development industry, based in New York. Later, in 1993, he relocated to the United Kingdom, where he completed his LLM. No. All rights reserved. He has successfully completed over 200 operations using the Mako machine.
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