He has published numerous papers on the topic of knee ligament injuries, arthroscopic surgery, and other techniques. 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. Since joining HFW in 2004, Mr. Webb has specialized in P&I and FD&D for ship owners. To get started investing, check out our quick-start guide to investing in stocks. Dr. Jonathan Webb, a specialist knee surgeon at Nuffield Health Bristol Hospital, is the doctor. You have labor concerns. PIPE deals effectively allow institutional investors to buy larger quantities of public company stock, typically at a discount to public market prices. Thats why AI scares people, we know tech can be used just as coldly as anything else. I don't think anybody thinks of farming from this perspective. As part of that, in order to bring trust and transparency to agriculture, you have to be a public company. 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. It is a non-profit organization that provides education and social services to low-income residents living in low-income apartments. 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. You have food safety concerns. Her estimated net worth is more than $15 million. 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. I mean, that is right in line. 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. "You look at renewable energy 20 years ago, electric vehicles 10 years ago, if we want to get CEA to be institutional at scale, not only in households with consumers, you really need that rigor of the public markets and that attention of the public markets to help institutionalize an industry," he said. 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. CEOs can get lazy and only worry about the last 90 days; thats easy. 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. In the same year, he scored his second try after just 23 seconds. A former England international, he reached the World Cup Final in 1991 and was a two-time grand slam champion in the Five Nations. I want to know what the problems are from them, not just our executive team. 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 Webb: Well, thank you and thank you for having me, and we've got a lot of work to do here, but I can assure you we're head down building and look forward to continuing the conversation another time. You may opt-out by. 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. Moving forward, AppHarvest is focused on bringing its beefsteak and on-the-vine tomatoes to market. We want to be at Kroger. I know that you're not the only one focused on controlled environment agriculture. No, weve made some mistakes. 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. Moser: Well, you said it on the call. Jonathan Webb Webb grew up in Kentucky, and founded AppHarvest in 2017 after years in the solar development industry, based in New York. I'd tell you, we go through tomatoes, handover, [] in my house alone, I'm sure. An Interview With AppHarvest Founder and CEO Jonathan Webb "Tech for good the consumer wants it. By us running on completely recycled rainwater, we have no water cost. 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. 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. The High Stakes of the Roundup Cancer Lawsuit: Why Billions of Dollars are on the Line, 5 Ways to Get Money for Investment Property. This commitment, at $10 per share, values the company at $1 billion. As I was listening, there was a quote, you said, "We are farmers and futurists." I did want to know here because I saw this in the earnings release and I just thought it was one of those quotes that stood out to me from Mastronardi, your distributor. Jonathan Webb, CEO, AppHarvest: AgTech Farming for Our 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. How do they plan on achieving that goal? We're building large facilities to grow fruit and vegetables running completely on recycled rainwater using LED lights, software, and sensors. Very excited about the Root AI transaction. In February 2018, encouraged by investors, advisors including Hillbilly Elegy author J.D. 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. His grandmother grew up in Whitley County, where a coal mining accident killed his great-grandfather. Webb Net Worth In our first month or two, we're already at all those outlets. Thank you for your continued support. 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. With that difficult work that in mind, Webb has designed his company to grow as much produce as possible as sustainably as possible. 20years ago it was renewable energy. I know you're in the DC area. But then what have we done with Root AI? Making the world smarter, happier, and richer. Terms & Conditions. The first harvest at its Morehead facility is slated for early 2021. Learn More. Theyre looking at a company and even though its pre-revenue it has all the necessary ingredients to succeed.. You can also follow him on Instagram. I could be in a penthouse in New York City, managing AppHarvest from the 32nd floor of some high-rise. People at large tech companies question what theyre actually building. Why locate in Appalachia? His extensive experience and knowledge in the field have led to his reputation as a leading knee surgeon in the UK. AppHarvest (APPH) CEO Jonathan Webb said the company has its eyes on the long term as it looks to "institutionalize" controlled environment agriculture (CEA). Later, in 1993, he relocated to the United Kingdom, where he completed his LLM. In the 1992 Five Nations, England won the title back-to-back for the first time since 1924, thanks to Webbs brace. You are speaking our language here at The Fool. Copyright 2023 Surperformance. "For us, being transparent with not only the consumer, but having that transparency of a public company as we build a large global food company, we think the long-term benefits are great.". By locating within Appalachia, the company is also less than a days drive to more than two-thirds of the U.S. population. Part of it is that building big stuff fast in the US is very hard. People don't leave purpose-driven companies, AppHarvest CEO says The estimated value when the deal closes will be about a billion dollars for the company. 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. AppHarvest. 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. Jonathan Webb - Insider Trading Tracker - Fintel AppHarvest knows its far from being the only player in the CEA game. 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. Similarly, she owns yachts and private planes and serves on the board of the Women Golf Club Foundation. Did we help them reach their goals? Webb is a consistent presence at the companys flagship greenhouse in Morehead. We're ramping up and scaling quickly. Before founding AppHarvest, Jonathan worked with the U.S. Department of Defense on the largest solar project in the Southeastern United States. You have illegal chemical pesticides where the EPA cannot track the chemicals being used on these farms in Mexico. 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. Jonathan Webb Net Worth Follow him on Twitter to get more updates. Jonathan Webb, AppHarvest Inc: Profile and Biography The Motley Fool recommends AppHarvest, Inc. 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. But I wonder, is there something to your mind? This is becoming really a hot-button topic for a lot of investors, rightly so. We'll head down here and then I would start or I would end with what I started with. The project aimed to help achieve an Obama-era goal of ensuring the militarys hundreds of installations develop resilient on-site power generation and receive 20% of their electricity from renewable sources by 2025. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. The system it uses reportedly reduces water usage by 90% compared to traditional open-field agriculture, while also eliminating runoff. Sometimes, it can even get us a few steps closer to saving he world. Webb: The industry is at an inflection point. AppHarvest 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. 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. A specialist in knee surgery, Jonathan Webb was a rugby union fullback for the English national team from 1987 to 1993. He often sleeps in an RV outside the construction site of its second facility. 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. Its first crop will be non-GMO tomatoes, which will be provided to a number of US grocers. They ask themselves, Did we help five people today? No. 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. 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. 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. You talk about sustainable. Webb: We could not be more excited. WebJonathan Webb. 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 Webb, a former rugby player, has a wealth experience and is now helping players return to the sport they love. 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. By the end of next year, well quadruple that. Also referred to as blank check companies, the mechanism has existed for several years but has received increased attention of late. I'm Jason Moser, thanks for listening, and we'll see you next week. But with that said, what we have at AppHarvest is fairly unique. I graduated from the University of Kentucky. Moser: Yeah. Even though you entered at such a young stage of your business, You essentially were pre-revenue coming into the public markets, and now, you're just getting that started. Let's let the consumer of our product also be the buyer in our company. But to our investors the question and I got this on the roadshow, I'm in this to make money, great. AppHarvest is an indoor farming company, so has massive greenhouses 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 Purpose At Work: How AppHarvests On A Mission To Help That's right -- they think these 10 stocks are even better buys. Moser: That's exciting. To access all the content for free, please sign up by entering your email. 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. Yes, maybe we're paying marginally more in the short-term, but that workforce is the one that's beating production targets daily. Again, the private markets get a very bad rap socially. How do you feel about coming public a lot earlier than you probably would've normally? S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. 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.. Linked companies : AppHarvest, Inc. Summary. Jonathan Webb is a specialist knee surgeon and a former English rugby union fullback. 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. For the fourth quarter Jonathan Webb grew up in Kentucky and has been committed to developing 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 feel like with AppHarvest, at least, my takeaway, I found a lot of things that make you all special. 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. 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. Most people every day are just concerned about can they put food on the table? 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. We want to be at Wendy's, we want to be at Walmart. We've just been selling product for a matter of months. I asked on a call earlier today, well, have you had issues hiring people? With a 19% stake, CEO Jonathan Webb is the largest shareholder. Jonathan received his bachelors degree from the University of Kentucky. "We have the capital we need and we're focused on building and operating, and just head down on execution," Webb said. This is a BETA experience. AppHarvest Founder & CEO on company's public debut via SPAC We want to be selling to 90% of America. Save my name, email, and website in this browser for the next time I comment. I want to talk with you about in regard to AppHarvest. 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. Most of those employees were hired in the midst of 2020, something that Webb considers a testament to the trust his community has placed in AppHarvest. Thank you for accessing our content on the Topio Networks Market Intelligence Center. We're in that classic scenario of demand exceeding supply. When is it going to be able to ship? 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. Europe, Menlo Park, China), Where the person is located (e.g. Jonathan Webb, a specialist in knee surgery, was once a prominent player on the English rugby team. All rights reserved. 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. There's going to be a lot of companies hopefully working to solve our food and agriculture problems. He scored 296 points for England and played in two Rugby World Cups including the 1991 final. AppHarvest CEO envisions 'couple-decade journey' after going public All Rights Reserved. Webb supported a large-scale solar project in Virginia while he was employed by the U.S. Department of Defense. 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. KY-based AppHarvest admits serious concerns about its Amid the verdant rolling hills of central Kentucky, in the heart of Appalachian coal country, youll We have a phenomenal team of sustainability experts. Then Jeff Obin, who is on our board and has been an early investor. You have to judge yourself internally. 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. This year alone, more than 50 SPACs have been formed in the US, collectively raising around $36.2 billion as of last month. We're ramping up this first facility in the middle of a global pandemic, we had an ice storm. In order to do that, you have to have rigor. In addition to his numerous social media fans, Jonathan Webb has also embraced a low-key approach to his career. We use completely recycled rainwater. Because our services are focused on technology, 5G connectivity, and all of the different benefits we're going to get from that. Again, tomatoes are our first crop, but by next year, strawberries and leafy greens. 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. If you look at AppHarvest, what are we doing? WebJonathan Webb grew up in Kentucky and has been committed to developing sustainable projects from Central Appalachia. His final international was against Ireland in March 1993. Cost basis and return based on previous market day close. AppHarvest Jonathan Webb But in its entirety not only do we have a problem we want to solve, we have a place in the world that wants to solve it with us., A crop care specialist carries boxes of tomatoes through a column of crops, pruning as she goes, I got to visit AppHarvest in November, and the sheer enthusiasm Webb has built in his staff is phenomenal. Moser: Yeah. WebJonathan Webb. 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. I was hoping maybe we could talk a little bit about that idea that you're farmers and futurists. "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). 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 When youre building tech for techs sake, you start to question what youre doing. Use our online form to book an appointment with Dr. Webb. He acknowledges that scaling up so quickly in the middle of a pandemic is, almost unheard of in the current world. Webb started his professional career in 1989 as a Durban maritime lawyer firm. Moser: Yeah, absolutely. We have one farm right now thats 2.8 million square feet. Jonathan Webb currently follows over 1 million people. monitored for quality control 24/7 and harvested robotically. I've tried to say, we have a team that looks at this as this is our 30-year journey here at AppHarvest. It hopes to expand into leafy greens, berries, cucumbers, and bell peppers in the future. Webb: Regulators are pounding on them, consumers are pounding on them. That narrow focus on societal good is what has kept AppHarvest fully staffed throughout the pandemic. 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. We dont see it as losing money for losing moneys sake; developing that tech is investing in our future.. 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. This is still a very new space though. AppHarvest CEO envisions 'couple-decade journey' after going public
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