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 What makes AppHarvest so unique? We want to be selling to 90% of America. 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. Webb doesnt mince words on the specifics; the most valued companies in 100 years, he said, will be the ones that allow humanity to survive. He names a few: electronic vehicle manufacturers, renewable energy companies. I encourage anyone to go out there Google Root AI and go check out the videos of what some of this stuff does. He practices at Mayo Clinic Hospital Eau Claire. We're ramping up and scaling quickly. No. Moser: Yeah. The show also discusses the benefits of Martha Stewart being on their board and how they plan get their products onto shelves. "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). ", "It's easy to be a CEO that's looking for the next three months," Webb stated. I want to talk with you about in regard to AppHarvest. 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. Brooke DiPalma is a producer and reporter for Yahoo Finance. Jonathan was named one the Top 30 Most Influential Lawyers in Washingtonians 2018 list upon graduation. We hit our Q1 guidance, $2.3 million in revenue. I asked on a call earlier today, well, have you had issues hiring people? Jason Moser has no position in any of the stocks mentioned. I know you're busy. He is also becoming more involved with green shipping and is a council member of the London Shipping Law Centre. But with that said, what we have at AppHarvest is fairly unique. If you want to know how wealthy he is, read on! FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. "In less than His fund's based in DC, we had them as early investors. Moser: That's exciting. 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. My competition in Mexico, you have people getting paid $5 a day. You came public a lot sooner or probably that you would have had the opportunity to even 10 years ago. 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. Were investing heavily in our future, so were spending heavily today, he said. Then Jeff Obin, who is on our board and has been an early investor. We want to make sure you get the most out of our platform. 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. We use bees to pollinate our plans. 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. 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. They can be competitive. I have a 16 and then going on 15-year-old daughters. You talk about sustainable. Is there any one thing or is it a collection of many things? By us running on completely recycled rainwater, we have no water cost. WebJonathan Webb. Jonathan Webb grew up in Kentucky and has been committed to developing But its confident in its approach. They have 10% of the world's freshwater. You look at California and the Southwest of the U.S., drying up, drought-stricken, flagged by wildfires. 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. You are speaking our language here at The Fool. People, planet, wonderful, but I'm trying to make money. For the fourth quarter www.vbprofiles.com is now www.topionetworks.com. I think it's clear that investors should really be excited for the future of AgTech. sold to the top 25 U.S. grocers. As I was listening, there was a quote, you said, "We are farmers and futurists." You can also compare Dr. Webb with other orthopedic surgeons in Eau Claire to find the one that best suits your needs. 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. While living in Washington D.C. developing sustainable energy farms, Jonathan researched another type of farming the Netherlands and its high-tech greenhouses that in a single acre yield as much as 10 outdoor acres and virtually eliminate the use of chemicals. The Motley Fool owns shares of and recommends Tesla. 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.). Again, if we look at agriculture, there's a lot of trouble in our current agriculture system and we can use ESG metrics to clean up our food supply and create better food systems. Is there a benefit? *Average returns of all recommendations since inception. Dr. Jonathan Webb, a specialist knee surgeon at Nuffield Health Bristol Hospital, is the doctor. 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. 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. Yes, maybe we're paying marginally more in the short-term, but that workforce is the one that's beating production targets daily. AppHarvest reaffirms guidance on full-year 2021 net revenue of $21 million and Adjusted EBITDA of ($41) million provided during its Analyst Day presentation on December 15, 2020. 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. In 1985, he joined Bristol Rugby and won the John Player Cup. All of our water is captured on our roof. I could be in a penthouse in New York City, managing AppHarvest from the 32nd floor of some high-rise. But if you look at all the problems in the agriculture system, this industry really solves most of those problems. Invest better with The Motley Fool. 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. You have climate disruption. We look forward to providing you with even more cutting-edge market research, as Topio Networks. Later, in 1993, he relocated to the United Kingdom, where he completed his LLM. 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 year alone, more than 50 SPACs have been formed in the US, collectively raising. I mean, that is right in line. Webb was named a World Rugby Council RFU representative in 2016. Amid the verdant rolling hills of central Kentucky, in the heart of Appalachian coal country, youll Visualize our facility in Murray, Kentucky, it's 2.8 million square feet, nearly 50 football fields under-glass. 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. We're feeding our country with people in Mexico who are making $5 a day. Originally from Kentucky, Webb is dedicated to sustainable projects in Central Appalachia. Learn More. How excited are you to bring that Root AI company in their leadership into your family? PIPE deals effectively allow institutional investors to buy larger quantities of public company stock, typically at a discount to public market prices. A full transcript follows the video. We're investing in our workforce. Then we'll be able to give that data over to the grocer in more real-time. Cost basis and return based on previous market day close. 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.". Yes, we're using nature for what it's good. 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. It means transparency. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice| Do Not Sell/Share My Personal Information| Ad Choices The same way there won't be one energy company powering the world. He holds a legal degree from the University of Natal as well as the University of Cape Town. Putting a retention pond, we filter it with no chemicals and we're able to run our facility. WebJonathan Webb, CEO, AppHarvest: AgTech Farming for Our Planets Future. We arent burning through cash with pointless R&D when we can buy incredible technologies over in the Netherlands, Webb says. I'm sitting in the heart of coal country right now. His Twitter account is one of the most popular on the social network. 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. If I can sell you a grocer, a product at around the same price, what are we solving for?