In 1985, he joined Bristol Rugby and won the John Player Cup. This will result in a $1.7 billion return of investment for the company. The system it uses reportedly reduces water usage by 90% compared to traditional open-field agriculture, while also eliminating runoff. You can also follow him on Instagram. Moser: Yeah, I'd tell you, I think you're right. Visualize our facility in Murray, Kentucky, it's 2.8 million square feet, nearly 50 football fields under-glass. 95% of a fruit and vegetable is water. Webb is a highly-respected knee surgeon in the United States. Jonathan Webb, a Maryland attorney, has experience in criminal defense and DUI/DWI defense. You have to judge yourself internally. 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. Jonathan Webb: AppHarvest, we're based here in Central Appalachia and we're building some of the world's largest controlled environment agricultural facilities. 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. 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. 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 We're going to be based in Central Appalachia. I mean, I think that kind of speaks for itself. You talk about sustainable. 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. Jonathan Webb, AppHarvest Inc: Profile and Biography We'll head down here and then I would start or I would end with what I started with. By the end of next year, well quadruple that. Jonathan Webb is the largest individual Appharvest shareholder, owning 20.54M shares representing 19.04% of the company. This commitment, at $10 per share, values the company at $1 billion. The estimated value when the deal closes will be about a billion dollars for the company. The SPAC opportunity, let you, I think, become a publicly traded company maybe sooner than you really felt like you needed to. 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. That's how quickly the energy industry shifted. How do they plan on achieving that goal? Non-planned trade are trades that 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. WebThe following charts show the stock performance of securities subsequent to each open-market, non-planned trade made by Jonathan Webb. But then it's pulling technology in to drive nature from behind. Webb is from Kentucky, where 16% of residents are We always talk about investing for the future because that's really what investing is all about. We hit our Q1 guidance, $2.3 million in revenue. We're investing in our workforce. He has successfully completed over 200 operations using the Mako machine. No one else in America is doing something at that scale. But with that said, what we have at AppHarvest is fairly unique. 20years ago it was renewable energy. But I wonder, is there something to your mind? Investors Dig Into AppHarvest | The Motley Fool - Nasdaq 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. These food companies today are like the cigarette companies 40 years ago. 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. Making the world smarter, happier, and richer. 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.. It sounds like there's a lot of potential there. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. We arent burning through cash with pointless R&D when we can buy incredible technologies over in the Netherlands, Webb says. We've had record amounts of rainfall. To make the world smarter, happier, and richer. He is a senior partner in the shipping litigation practice group, focusing on hull insurance claims, charter party disputes, and dry shipping issues. $157M Today's Change (-7.84%) -$0.08 Current Price $0.94 Price as of March 1, 2023, 1:16 p.m. If I can sell you a grocer, a product at around the same price, what are we solving for? 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. Consumers are pushing back. If you look at AppHarvest, what are we doing? 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. Jonathan Webb Net Worth - Bologny 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. My answer to that is always; sustainability is profitability. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. I want to know what the problems are from them, not just our executive team. Before founding AppHarvest, Jonathan worked with the U.S. Department of Defense on the largest solar project in the Southeastern United States. 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 I think we have seen some other players in the space that are starting. "And we don't think we could do that if we weren't in the public markets.". KY-based AppHarvest admits serious concerns about its On Twitter, the actor shares his personal experiences with his followers. more. ESG should be at the core of profitability and it should be at the core of building a resilient company. Why is that important? He practices at Mayo Clinic Hospital Eau Claire. 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. It means transparency. Moser: Yeah, absolutely. AppHarvest raised over $475 million in a public IPO, but it is not over. We're farmers, we are growing fruits and vegetables, and we're utilizing sunlight, we're utilizing rainwater. 10 stocks we like better thanWalmartWhen investing geniuses David and Tom Gardner have an investing tip, it can pay to listen. A Kentucky native and University of Kentucky graduate, Jonathan Webb is turning his dream of a high-tech farming hub in Appalachia into reality with AppHarvest. You mentioned your children. 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. So the problem at a macro level just started with hearing the statistic [that humanity will need] 50% to 70% more food by 2050. Karrie, on the other hand, has not disclosed her salary or income. I'm sitting in the heart of coal country right now. 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. Jonathan was named one the Top 30 Most Influential Lawyers in Washingtonians 2018 list upon graduation. 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.. Project Access, Inc. was founded by Mr. Webb in 1999. Public asset : 44,698,475 USD. He actively engages with his followers through his various social media accounts, including Instagram and Twitter. WebFounder & CEO, AppHarvest Kentucky native and University of Kentucky graduate Jonathan Webb is turning his dream of a high-tech farming hub in Appalachia into reality with AppHarvest. could be sentient says Microsofts chatbot feels like watching the Shark Tank investor Kevin OLeary says a new generation of employee has never worked in an officeand its totally I cant afford to sell because I dont want to lose that rate: 3% mortgage rates will loom large over the U.S. CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. That's because of our inefficient systems in the supply chain. Typically, you would do 40 to 60 meetings to get a couple of investors. They ask themselves, Did we help five people today? He has a particular interest in knee surgery and sports medicine. You came public a lot sooner or probably that you would have had the opportunity to even 10 years ago. We want to be at Kroger. We can get to 70% of the U.S. in a one-day drive. But if you look at all the problems in the agriculture system, this industry really solves most of those problems. By us running on completely recycled rainwater, we have no water cost. In February 2018, encouraged by investors, advisors including Hillbilly Elegy author J.D. "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. Webb founded AppHarvest in 2017, and the company was certified as a B Corp two years later. The world's food and agriculture problems are not going to be solved overnight. 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.. A specialist in knee surgery, Jonathan Webb was a rugby union fullback for the English national team from 1987 to 1993. It feels like this is something that really is just getting some traction here. He is also becoming more involved with green shipping and is a council member of the London Shipping Law Centre. WebJonathan Webb, AppHarvest Inc: Profile and Biography - Bloomberg Markets Live Now Bloomberg TV+ Leaders with Lacqua:Mark Read WPP CEO Bloomberg Radio Meet the Again, the private markets get a very bad rap socially. 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. But its confident in its approach. He has over 100 civil and criminal jury trials and has represented clients in counties across Georgia. That's not the conversation at all. We thought in order to build an organization that's going to be selling to the top grocers. Below, we look at some of his most popular tweets. Then by the end of the year in 2022, we'll have five facilities operating. You look at California and the Southwest of the U.S., drying up, drought-stricken, flagged by wildfires. I was hoping maybe we could talk a little bit about that idea that you're farmers and futurists. Theyre looking at a company and even though its pre-revenue it has all the necessary ingredients to succeed.. Europe, Menlo Park, China), Where the person is located (e.g. WebAppharvest (: ) is owned by 29.32% institutional shareholders, 30.67% Appharvest 40.01% retail investors. They can be competitive. That's right -- they think these 10 stocks are even better buys. 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. There has been nothing more impactful on farming since that time, and now, it's AI robotics and using data to make decisions. AppHarvest 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. WebJonathan Webb - Founder & CEO @ AppHarvest - Crunchbase Person Profile Person Jonathan Webb Overview Number of Founded Organizations 1 CB Rank (Person) 4,704 Jonathan Webb currently follows over 1 million people. Same platform but with new and improved features. We take that long term approach, we don't view things by quarter. Moser: That's exciting. Webb founded it in 2017 in his native Kentucky; it became a certified B Corp two years later. Australian National University Alumni Founded Companies, Rashtrasant Tukadoji Maharaj Nagpur University Alumni Founded Companies, Seattle Pacific University Alumni Founded Companies, Regis University Alumni Founded Companies, Emory University Alumni Founded Companies, New Mexico State University Alumni Founded Companies, Oakland University Alumni Founded Companies, Oklahoma State University Alumni Founded Companies, Number of Organizations that the person founded, Algorithmic rank assigned to the top 100,000 most active People, The organization associated to the person's primary job, Where the person is located (e.g. 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. Get the latest news and research from AFN & AgFunder in your inbox. 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. Jonathan Webb 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. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Your bedroom should be a serene place for you to feel rested and rejuvenated. Age : 37. Webb started his professional career in 1989 as a Durban maritime lawyer firm. I encourage anyone to go out there Google Root AI and go check out the videos of what some of this stuff does. Jonathan Webb's Appharvest shares are currently valued at $20.96M. 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. Sometimes, it can even get us a few steps closer to saving he world. On today's show, AppHarvest Founder & CEO Jonathan Webb talks about AgTech (agriculture tech), the third wave of sustainable infrastructure. 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. The private markets can be a part of every solution we have that we're seeing today. Webb: To put this in perspective, this was our first facility under operations, our flagship facility. WebGet Chad Hill's email address (c*****@appharvest.com) and phone number at RocketReach. Cost basis and return based on previous market day close. This helped the Army reach its goal of 20% renewable energy by 2025. He also received his medical license from Minnesota. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. 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. 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 have the capital we need and we're focused on building and operating, and just head down on execution," Webb said. AppHarvest, which went public in February in an IPO that brought it $475 million in gross proceeds, is an ambitious venture. WebInside is a tightly controlled environment that uses 90% less water than open-field agriculture and only rainwater to produce crop yields up to 30 times that of traditional Here, we've had three years out of the last ten years in Kentucky have been our wettest years on state record. Part of it is that building big stuff fast in the US is very hard. 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. Jonathan received his bachelors degree from the University of Kentucky. Look at the open fields in Mexico. A former England international, he reached the World Cup Final in 1991 and was a two-time grand slam champion in the Five Nations. His grandmother grew up in Whitley County, where a coal mining accident killed his great-grandfather. 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. AppHarvest CEO envisions 'couple-decade journey' after going public But the futuristic pieces, we've combined a technology team with a great plant science group. Every year, he gives a lecture to students enrolled in a post-graduate shipping LLM program. We can also do it by returning investors to our shareholders. 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. 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 a specialist knee surgeon and a former English rugby union fullback. His fund's based in DC, we had them as early investors. For the fourth quarter I think they certainly will be. We dont talk about this at all in the US. Everybody has full healthcare. Webb left for college, eventually pursuing a career in renewables at the DOE, a space where he felt he could be part of the solution. But the economic devastation in his home state still bothered him. They have 10% of the world's freshwater. AppHarvest: Transforming The Future Of Agtech, And Maybe The Use our online form to book an appointment with Dr. Webb. We pay every employee at AppHarvest a living wage. What's that Harvest's secret sauce? Also referred to as blank check companies, the mechanism has existed for several years but has received increased attention of late. He represented his country in 33 Test matches and played for Bristol and Bath. Powered and implemented by Interactive Data Managed Solutions. Webb: We could not be more excited. I'm sure it was an exciting time. We're really in the business of packaging up water and then shipping that out to major markets and then beyond that execution at scale. Webb: Well, the last great technological revolution in American farming is really when the tractor was introduced. I cant say this was the exact plan but what accelerated all of this was Covid-19, AppHarvest CEO Jonathan Webb told AFN. But then what have we done with Root AI? For example, we use integrated pest management, good pest to kill bad pest. You have to get permitting, communities [buy-in], state and federal support, infrastructure, inspections. We dont have two planets though, so Webb got creative. The Motley Fool recommends AppHarvest, Inc. Let's let the consumer of our product also be the buyer in our company. We'll talk a little bit about that in just a second. 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. 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. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Investors look at that, Peter Halt, AppHarvests newly appointed chief financial officer, told AFN. To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center. 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. Thanks as always to Tim Sparks for putting the show together for us. AppHarvest I know that you're not the only one focused on controlled environment agriculture. The companys first greenhouse will span 60 acres and open in 2020 in Morehead, Ky.The greenhouse will operate entirely on rainwater using a 10-acre retention pond, reducing water usage by 80% compared to a typical farm. David and Tom just revealed what they believe are theten best stocks for investors to buy right now and Walmart wasn't one of them! We're laser-focused on getting this right here. I go directly into the facility and talk to entry-level employees and people sweeping the floors. 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. We just want to be one of those and we're cognizant that there's going to be plenty of large players. Webb was also the first LPGA player to win $1 million in a single season, finishing first on the year-end money list. Do the hard work to create shareholder value now while also looking out for shareholders two decades from now, Webb said is his credo. We're building infrastructure in an area of the country where we're having record amounts of rainfall, and if you look at the climate maps, we continue to get wetter. 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. "For us, at AppHarvest, this isn't just about a company. 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 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." I know you're busy. Jonathan Webb - Insider Trading Tracker - Fintel It's a nice evolution in the investing world that we care more and more about it. 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. Jonathan Webb, a specialist in knee surgery, was once a prominent player on the English rugby team. We talk about how, Also referred to as blank check companies, the mechanism has existed for several years but has received increased attention of late. Webb, a Kentucky native and University of Kentucky graduate, says he remains committed to his goal of employing large numbers of people at high-tech farms around the eastern half of the state. Notify me of follow-up comments by email. 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. Webb is one of very few knee surgeons to have played for both the England-France national teams. But to our investors the question and I got this on the roadshow, I'm in this to make money, great. I graduated from the University of Kentucky. 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