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. 2023 Fortune Media IP Limited. He acknowledges that scaling up so quickly in the middle of a pandemic is, almost unheard of in the current world. Webb was named a World Rugby Council RFU representative in 2016. Tomatoes will be the first fruit rolling out of AppHarvest's soon-to-launch facility in Morehead, Kentucky. But the production we've left in the US is being grown in areas that are running out of water. 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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. People, planet, wonderful, but I'm trying to make money. Jonathan has a Bachelors degree from the University of Kentucky in Business. 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. 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. Growing up in Appalachia, Jonathan Webb watched the slow decline of the coal industry firsthand. A specialist in knee surgery, Webb has performed countless surgeries in elite rugby union teams. We believe controlled environment agriculture is the third wave of sustainable infrastructure. By us running on completely recycled rainwater, we have no water cost. It's so cool to think about what you guys are doing there. We are about to plant our first crop in a 60-acre, controlled environment, chemical-free farm. The system it uses reportedly reduces water usage by 90% compared to traditional open-field agriculture, while also eliminating runoff. To get started investing, check out our quick-start guide to investing in stocks. 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 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. Webb is from Kentucky, where 16% of residents are below the poverty line, and when the coal jobs dried up, nothing came in to replace them. Jonathan Webb Net Worth - Bologny 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. He actively engages with his followers through his various social media accounts, including Instagram and Twitter. But I wanted to ask you before we do, the Root AI acquisition. There's going to be a lot of companies hopefully working to solve our food and agriculture problems. AppHarvest Founder & CEO on company's public debut via SPAC We're a public benefit corporation, and we're B Corp certified. Linked companies : AppHarvest, Inc. Summary. I write about the future of food, business, and culture. We talk about how, 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. Webb: The industry is at an inflection point. Founder & CEO at AppHarvest. Jonathan Webb, CEO, AppHarvest: AgTech Farming for Our This is still a very new space though. The High Stakes of the Roundup Cancer Lawsuit: Why Billions of Dollars are on the Line, 5 Ways to Get Money for Investment Property. He noted that in traditional agriculture, most everything happens incrementally, But now is not a time for incrementalism the thing that needs to be added to that recipe is folks [like Webb] that want to be aggressive in getting us ready for a world where its hard to grow crops.. Jonathan Webb is the Founder and CEO of AppHarvest, a company that combines conventional agricultural techniques with cutting-edge technology to address He has become a prominent social media star. I mean, that is right in line. You have to get permitting, communities [buy-in], state and federal support, infrastructure, inspections. Are we perfect? We use completely recycled rainwater. But for us, it's not a back-and-forth, it's not OK, well, I'm going to invest in an ESG company and I'm going to sacrifice profitability. But the journey hasnt been without pitfalls. 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. 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. 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. 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. Are you going to have drought? WebGet Givens McNeill's email address (g*****@windstream.net) and phone number (972988.) at RocketReach. AppHarvest is known for its approach to CEA, which Webb called the "third wave of sustainable infrastructure." Investors Dig Into AppHarvest | The Motley Fool - Nasdaq The greenhouse will cost $97 million and span 60 acres. But I dont think thats adding value to the company, or looking out for our shareholders, he said. It's a nice evolution in the investing world that we care more and more about it. In addition to his numerous social media fans, Jonathan Webb has also embraced a low-key approach to his career. Everybody has full healthcare. 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. According to Webb, going public has helped the company focus on the big picture. Offers may be subject to change without notice. Once operational, it will ship 45 million pounds of fresh produce annually to grocery stores in the Midwest and Southeast. Jonathan Webb, a specialist in knee surgery, was once a prominent player on the English rugby team. I don't want to keep you all day, but before we wrap it up, I did want to talk to you a little bit about ESG, environmental sustainability governance issues. I love that passion. AppHarvest Went From Seed to $1 Billion in Just 3 Years Its first crop will be non-GMO tomatoes, which will be provided to a number of US grocers. On today's show, AppHarvest Founder & CEO Jonathan Webb talks about AgTech (agriculture tech), the third wave of sustainable infrastructure. Webb: We've been very fortunate that some of our investors and board members, Fidelity was the largest investor in our pipe during the public process, Jeff Ubben of Inclusive Capital, our Chief Sustainability Officer, Jackie Roberts came to us from the Carlyle Group, we're all very serious about this. Let's prove to the world what we're doing through results and even that, our first quarterly earnings call today, there's a level of rigor that you're acquired through the public markets. Jonathan Webb grew up in Kentucky and has been committed to developing 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. AppHarvest After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. One of AppHarvest's Crop Care Specialists operates a tomato-picking robot. We want to make sure you get the most out of our platform. Webb is one of very few knee surgeons to have played for both the England-France national teams. This commitment, at $10 per share, values the company at $1 billion. It feels like this is something that really is just getting some traction here. Moser: That's going to do it for us this week, folks. 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? We'll talk a little bit about that in just a second. You came public a lot sooner or probably that you would have had the opportunity to even 10 years ago. WebJonathan Webb. But I think there are a lot of benefits that come with that. Copyright 2023 Surperformance. 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. His extensive experience and knowledge in the field have led to his reputation as a leading knee surgeon in the UK. "And we don't think we could do that if we weren't in the public markets.". When he says sustainable, he doesnt just mean that in an environmental sense. Jonathan Webb poses with celebrity investor Martha Stewart and some of his signature tomatoes. Well, you need water you need food, and you need energy. No. 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. We take that long term approach, we don't view things by quarter. How excited are you to bring that Root AI company in their leadership into your family? Webb Net Worth Sustainable investor Equilibrium 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. I don't know that we're going to have enough time, but let's just start first and foremost this is one of our most recent recommendations in our service. Follow him on Twitter to get more updates. His Twitter account is one of the most popular on the social network. Non-planned trade are trades that 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. 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. Despite the off quarter, Webb has much to celebrate. sold to the top 25 U.S. grocers. I think that's going to be something that just continues to get into the public's mind. We just have to keep our head down and execute and do our job every day here at AppHarvest. 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. He holds a legal degree from the University of Natal as well as the University of Cape Town. We've had record amounts of rainfall. 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. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. 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. A Bull Market Is Coming: 3 Reasons to Buy Costco Stock, 3 Top Stocks to Buy Now to Prepare for a Bull Market, 2 Exceptional Growth Stocks to Own in 2023, 2 No-Brainer Stocks to Buy During a Stock Market Plunge, 3 Robinhood Stocks to Buy and Hold Forever, 2 Reasons to Avoid a Roth 401(k) for Your Retirement Savings, Want $1 Million in Retirement? AppHarvest But the futuristic pieces, we've combined a technology team with a great plant science group. For us, we're looking at metrics, how can we be more sustainable? 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. But with that said, what we have at AppHarvest is fairly unique. If I can sell you a grocer, a product at around the same price, what are we solving for? I think it's clear that investors should really be excited for the future of AgTech. We're feeding our country with people in Mexico who are making $5 a day. 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. PIPE deals effectively allow institutional investors to buy larger quantities of public company stock, typically at a discount to public market prices. If you look at AppHarvest, what are we doing? Public asset : 44,698,475 USD. Webb is a consistent presence at the companys flagship greenhouse in Morehead. Project Access, Inc. was founded by Mr. Webb in 1999. 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. But really its water and food first. Good CEOs do both., Given the rapidly worsening climate outlook, all founders should focus on building a business that will be more powerful in 30 years than it will in 30 days, he said. 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 look at them over the course of time, years, and hopefully, decades we can be a part of that journey with you all. 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. Fame | AppHarvest net worth and salary income estimation Jan, Jonathan strives to work alongside the hard-working men and women of Eastern Kentucky and build an inclusive economy for the future. This article will briefly review the most important information. An Interview With AppHarvest Founder and CEO Jonathan Webb The SPAC opportunity, let you, I think, become a publicly traded company maybe sooner than you really felt like you needed to. Jonathan Webb, AppHarvest Inc: Profile and Biography AppHarvest (APPH) CEO Jonathan Webb said the company has its eyes on the long term as it looks to "institutionalize" controlled environment agriculture (CEA). The fired Google engineer who thought its A.I. 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. Typically, you would do 40 to 60 meetings to get a couple of investors. I think we have seen some other players in the space that are starting. In the back of his mind, he wondered what he could do to help. 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. We're building these facilities here where we can access markets and get to about three-quarters of the U.S. on a day drive. You can also follow him on Instagram. Jason Moser has no position in any of the stocks mentioned. No, weve made some mistakes. Is there a benefit? AppHarvest raised over $475 million in a public IPO, but it is not over. You start to do the math, and realize you might need two planet earths to have enough land and water to grow that food.. It is a non-profit organization that provides education and social services to low-income residents living in low-income apartments. 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. WebAppHarvest salary income and net worth data provided by People Ai provides an estimation for any internet celebrity's real salary income and net worth like AppHarvest based on real Get 5 free searches. Jonathan Webb is an actor with a large following on Twitter. WebJonathan Webb grew up in Kentucky and has been committed to developing sustainable projects from Central Appalachia. 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 Because it is cutting-edge technology. Required fields are marked *. We're in that classic scenario of demand exceeding supply. This helped the Army reach its goal of 20% renewable energy by 2025. We're in our first decade and we're going to try to look at judging the company on decade one, decade two, and decade three. Purpose At Work: How AppHarvests On A Mission To Help The Kentucky-based agriculture tech company, which was founded in 2017, began trading on the Nasdaq in late February 2021 after completing a SPAC merger with Novus Capital Corporation. Vance, and politicians of both parties, Jonathan left Washington and came home to Kentucky, where he now works tirelessly to make the eastern part of the state the AgTech capital of America. Dr. Jonathan Webb, a specialist knee surgeon at Nuffield Health Bristol Hospital, is the doctor. AppHarvest CEO envisions 'couple-decade journey' after going public But its confident in its approach. ", 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. Who were the most active food and agriculture technology venture capital firms in 2022. It's nearly impossible to have full transparency. I know that you're not the only one focused on controlled environment agriculture. On Twitter, the actor shares his personal experiences with his followers. What are you trying to accomplish? Of course, the future is what really matters. The actor regularly posts photos and videos of himself, as well as engaging with his fans. WebJonathan Webb, CEO, AppHarvest: AgTech Farming for Our Planets Future.