Executive Vice President and Head of Enterprise Development, Support Activities for Agriculture and Forestry, Contract Support (U.S. Army Office of Energy Initiatives), Intelligent Assistance and Bots Ecosystem. Growing up in Appalachia, Jonathan Webb watched the slow decline of the coal industry firsthand. 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. Because our services are focused on technology, 5G connectivity, and all of the different benefits we're going to get from that. We want to make sure you get the most out of our platform. 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.. As I was listening, there was a quote, you said, "We are farmers and futurists." You start to do the math, and realize you might need two planet earths to have enough land and water to grow that food.. 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. Going down, scanning the plant, pest, is there a disease, brightness? Recently, I had the opportunity to chat with Jonathan about the growing opportunity in the AgTech space. Then we have to remember this isn't just a U.S. problem we're trying to solve. Similarly, she owns yachts and private planes and serves on the board of the Women Golf Club Foundation. The system it uses reportedly reduces water usage by 90% compared to traditional open-field agriculture, while also eliminating runoff. 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. Remember, you can always reach out to us on Twitter at @MFIndustryFocus, or drop us an email at [emailprotected] As always, people on the program may have interest in the stocks they talk about and The Motley Fool may have formal recommendations for or against, so don't buy or sell stocks based solely on what you hear. We want to be selling to 90% of America. To me, this feels like just that, a growing market opportunity that is global in nature, and really the opportunity, just getting started. That's our headquarters. It means being a little bit more upfront with your investors. Webb supported a large-scale solar project in Virginia while he was employed by the U.S. Department of Defense. Visualize our facility in Murray, Kentucky, it's 2.8 million square feet, nearly 50 football fields under-glass. AppHarvest which raised $28 million in its Series C round 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. 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. It is a non-profit organization that provides education and social services to low-income residents living in low-income apartments. "It's hard to be the one that's looking two decades down the road while thinking of the here and now.". Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. You talk about sustainable. AppHarvest, which went public in February in an IPO that brought it $475 million in gross proceeds, is an ambitious venture. Jonathan Webb: AppHarvest, we're based here in Central Appalachia and we're building some of the world's largest controlled environment agricultural facilities. He often sleeps in an RV outside the construction site of its second facility. Same platform but with new and improved features. Jonathan Webb grew up in Kentucky and has been committed to developing 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've had 8,000 people apply to work at the company and we've hired 500 people in the middle of a global pandemic. Ten years ago, Tesla made electric vehicles popular in the mainstream, and right now, it's controlled environment agriculture. Linked companies : AppHarvest, Inc. Summary. Follow him on Twitter to get more updates. 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 WebAppharvest (: ) is owned by 29.32% institutional shareholders, 30.67% Appharvest 40.01% retail investors. We have one farm right now thats 2.8 million square feet. That narrow focus on societal good is what has kept AppHarvest fully staffed throughout the pandemic. It's a nice evolution in the investing world that we care more and more about it. His final international was against Ireland in March 1993. You have to get permitting, communities [buy-in], state and federal support, infrastructure, inspections. WebGet Givens McNeill's email address (g*****@windstream.net) and phone number (972988.) at RocketReach. On Twitter, the actor shares his personal experiences with his followers. Jonathan Webb is a dual-qualified lawyer. We'll talk a little bit about that in just a second. Theyre looking for purpose in their life; theyre looking for companies like us.. 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. Most countries in the Middle East import nearly all of their fruit and vegetables. We have a phenomenal team of sustainability experts. 2023 Fortune Media IP Limited. He has published numerous papers on the topic of knee ligament injuries, arthroscopic surgery, and other techniques. Webb is a consultant orthopaedic physician and a board member of World Rugby. We're in that classic scenario of demand exceeding supply. Jonathan Webb is the largest individual Appharvest shareholder, owning 20.54M shares representing 19.04% of the company. He represented his country in 33 Test matches and played for Bristol and Bath. Webb founded AppHarvest in 2017, and the company was certified as a B Corp two years later. 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. Why locate in Appalachia? Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Webb was named a World Rugby Council RFU representative in 2016. 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. We use bees to pollinate our plans. 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. The business combination values AppHarvest at a $1.0 billion pro forma equity value, at the $10.00 per share PIPE price and assuming minimal redemptions by Novus Capital shareholders. I think it's clear that investors should really be excited for the future of AgTech. Webb founded it in 2017 in his native Kentucky; it became a certified B Corp two years later. Moser: That's going to do it for us this week, folks. How excited are you to bring that Root AI company in their leadership into your family? Follow her on Twitter at @BrookeDiPalma or email her at bdipalma@yahoofinance.com. But if you look at the world, China and India account for 40% of the world's population. WebJonathan Webb - Founder & CEO @ AppHarvest - Crunchbase Person Profile Person Jonathan Webb Overview Number of Founded Organizations 1 CB Rank (Person) 4,704 In its Nov. 7 filing, AppHarvest reported net losses of $83 million for the first nine months of the year and net sales of $10 million, with an accumulated deficit of $270 million. 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. Theyre looking at a company and even though its pre-revenue it has all the necessary ingredients to succeed.. You can also compare Dr. Webb with other orthopedic surgeons in Eau Claire to find the one that best suits your needs. Below, we look at some of his most popular tweets. 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. What is AppHarvest to you? In 1985, he joined Bristol Rugby and won the John Player Cup. Moser: Well, you said it on the call. You can also follow him on Instagram. 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. You have labor concerns. 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. There's not going to be one food company feeding the world. 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. The agriculture-tech startup raised $250,000 in its first round of seed capital in February 2018, AppHarvest CEO and founder Jonathan Webb told Insider. ", "It's easy to be a CEO that's looking for the next three months," Webb stated. If you look at AppHarvest, what are we doing? If you look at the largest grocers in the U.S., we're selling to Kroger, Walmart, Publix, and we're selling to Wendy's. 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 Fidelity Management & Research Company, Inclusive Capital, and Novus. We just have to keep our head down and execute and do our job every day here at AppHarvest. A specialist in knee surgery, Webb has performed countless surgeries in elite rugby union teams. 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. He actively engages with his followers through his various social media accounts, including Instagram and Twitter. Now, we want to turn this region into an area of the country that's known for sustainable food production, but beyond just loving the place, I'm from Kentucky, beyond just loving this area, we can get to three quarters of the U.S. on a day drive. WebJonathan Webb. We are about to plant our first crop in a 60-acre, controlled environment, chemical-free farm. I want to figure out what I can do, as CEO, to ensure everyone has the resources to succeed. Amid the verdant rolling hills of central Kentucky, in the heart of Appalachian coal country, youll "In less than Get the latest news and research from AFN & AgFunder in your inbox. Two years into production, AppHarvest already provides 500 living wage jobs, is a second chance employer, and aims to hire a team as diverse as our nation and then empower them as individuals. Plus, the company is a B corp, a public benefit corporation, and its publicly traded. We've had one of our wettest decades on state record. Here are five relaxing scents you can use in your bedroom. 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. Then I got to mention the area we're in, Eastern Kentucky has been known for coal mining for decades, it was known as the whole country, so to speak, and empowering the U.S. through the industrial revolution with low-cost coal. Although his net worth is impressive, its important that you remember that he doesnt have to act alone to be wealthy. You came public a lot sooner or probably that you would have had the opportunity to even 10 years ago. ET More on the future of agriculture and vertical farming innovator FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Brooke DiPalma is a producer and reporter for Yahoo Finance. But I wanted to ask you before we do, the Root AI acquisition. MOREHEAD, Ky., Feb. 27, 2023 (GLOBE NEWSWIRE) -- AppHarvest, Inc. (NASDAQ: APPH, APPHW), a sustainable food company, public benefit corporation and Certified B Corp building some of the worlds largest high-tech indoor farms to grow affordable, nutritious fruits and vegetables at scale while providing good jobs in We just want to be one of those and we're cognizant that there's going to be plenty of large players. 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. It means transparency. That lowers transportation costs by 75%, allowing AppHarvest's fresher produce to better compete against low-cost foreign imports. The fired Google engineer who thought its A.I. I want to talk with you about in regard to AppHarvest. Thank you for accessing our content on the Topio Networks Market Intelligence Center. I mean, I think that kind of speaks for itself. For us, this year, it's less about the dollars and more about hitting our targets and we were able to hit our Q1 guidance and ramp up our facility to, later on, this year by Q4, we'll be at full capacity in Q3 and Q4, selling tomatoes out of this facility in more Kentucky. 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. ", As a CEO, Webb admitted that this focus on the long-term outlook has not been easy to prove to Wall Street, especially when compared to those who are "selling a worthless product that's not good for people and not good for planet and arguably questionable for shareholders. But being true to our ESG values, we think it is a competitive advantage and going to make us more competitive in the years to come. He played against Australia on 23 May. My competition in Mexico, you have people getting paid $5 a day. A full transcript follows the video. AppHarvest is known for its approach to CEA, which Webb called the "third wave of sustainable infrastructure." Is there a benefit? 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. People at large tech companies question what theyre actually building. You have climate disruption. I write about the future of food, business, and culture. 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. Jonathan Webb's Appharvest shares are currently valued at $20.96M. I know you're busy. San Francisco Bay Area, Silicon Valley), Total number of current Jobs the person has, CB Rank (Hub): Algorithmic rank assigned to the top 100,000 most active Hubs, Number of news articles that reference the Person, How AppHarvest Is Investing in the First Generation of High-Tech Farmers, AppHarvest May Not Be a Tasty Investment Yet, Agtech company AppHarvest debuts produce in select grocery stores, AppHarvest hires Impossible Foods David Lee as president, AppHarvest hires chief communications officer, Watch NASAs James Webb Space Telescope do high-tech origami, Varsity Spirits Webb on Bolstering the Middle Class, Jimmy Webb, Purveyor of Punk Fashion, Is Dead at 62, James Webb Space Telescope Successfully Deploys Its Mirror for the First Time. 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. The Motley Fool owns shares of and recommends Tesla. CEOs can get lazy and only worry about the last 90 days; thats easy. We've had record amounts of rainfall. We have high demand for U.S.-grown and pesticide-free produce already, and when you combine that with the taste, color, and freshness of the AppHarvest model, on top of their social mission, it's driving our customers to ask for more." We believe controlled environment agriculture is the third wave of sustainable infrastructure. I'd tell you, we go through tomatoes, handover, [] in my house alone, I'm sure. 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.). Are you going to have drought? By being able to have robotics and AI they can have more real-time information. After serving as an assistant public defender in Marylands Office of the Public Defender, Webb joined Ethridge Quinn for 2020. 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. Jonathan Webb poses in front of his giant greenhouse, When you look at human civilization, what do you need? 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. I fundamentally do not think its a tradeoff. What's your competitive advantages or something you feel differentiates you from your competition? CSC Leasing: Non-dilutive Funding for AgTech Startups, Americas Cultivation Corridor: We Grow AgTech Innovation, As demand for protein grows Sustainable Planet bets on water lentils as a viable alternative to soya, How not to fail in vertical farming: Be on guard for hubris, say Indoor Ag-Con speakers, International Fresh Produce Association launches 2023 Fresh Field Catalyst Accelerator program, BREAKING: Perfect Day animal-free dairy patent in US challenged, What is the role of biotech in an ethical food system? Jonathan received his bachelors degree from the University of Kentucky. You've taken a lot of steps early on in the development of your business to address a lot of those ESG concerns. We're laser-focused on getting this right here. The actor regularly posts photos and videos of himself, as well as engaging with his fans. I was really excited to be able to recommend it after all of the work I had done on the business, learning more about it, listening to you in your passion regarding this company, I think it would be beneficial for our members, for our listeners to hear it from your own words as the founder, as the CEO of AppHarvest. I mean, that is right in line. That's not the conversation at all. We were just talking earlier and you mentioned how you're in the DC area, it was fortunate that we had Steve Case, the founder of AOL, and he fundraised the rest. 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'm looking forward to being able to find more and more of these AppHarvest products in our grocery stores as we move forward. To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center. Here, we've had three years out of the last ten years in Kentucky have been our wettest years on state record. We had 22 meetings and had almost 20 yeses. Very few passed on this deal and we eventually had to cancel meetings.. You have food safety concerns. Again, the private markets get a very bad rap socially. 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? His military experience allows him to leverage private capital for his projects. We look at them over the course of time, years, and hopefully, decades we can be a part of that journey with you all. If I were an investor, Id want my CEO on the ground with the team, not just in an office tower, he said. 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. www.vbprofiles.com is now www.topionetworks.com. We want to be at Kroger. $157M Today's Change (-7.84%) -$0.08 Current Price $0.94 Price as of March 1, 2023, 1:16 p.m. We're selling to Kroger, we're selling in fast food chains like Wendy's. I feel like with AppHarvest, at least, my takeaway, I found a lot of things that make you all special. Terms & Conditions. 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. There are many sources of information on Jonathan Webbs networth. No one else in America is doing something at that scale. In addition to his numerous social media fans, Jonathan Webb has also embraced a low-key approach to his career. Were investing heavily We use completely recycled rainwater. Did we help them reach their goals?