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. In 1985, he joined Bristol Rugby and won the John Player Cup. We don't want to be selling just to the high-end. 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. I made the point at one point in regard to AppHarvest. But I think there are a lot of benefits that come with that. "And we don't think we could do that if we weren't in the public markets.". He has many impressive accomplishments. "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. Jonathan Webb's Appharvest shares are currently valued at $20.96M. Webb, a former rugby player, has a wealth experience and is now helping players return to the sport they love. I think you really keyed in on something important there, a 30-year journey. A full transcript follows the video. 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. Although his net worth is impressive, its important that you remember that he doesnt have to act alone to be wealthy. 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. We want to be at Kroger. 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. I hope you enjoy our conversation. Since then, AppHarvest shares have plunged 70%. I like thinking about a future where AppHarvest and companies like you all are helping make our food supply not only here domestically, but really around the world better, more reliable, more transparent. WebGet Givens McNeill's email address (g*****@windstream.net) and phone number (972988.) at RocketReach. Appharvest has The nonprofit organization he founded is still in operation today, and he continues to serve as Board Chair. Your email address will not be published. I'm looking forward to being able to find more and more of these AppHarvest products in our grocery stores as we move forward. I mean, I think that kind of speaks for itself. 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. His final international was against Ireland in March 1993. Moser: Yeah, absolutely. Webb: Regulators are pounding on them, consumers are pounding on them. 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. On Twitter, the actor shares his personal experiences with his followers. 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. 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. PIPE deals effectively allow institutional investors to buy larger quantities of public company stock, typically at a discount to public market prices. 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. By the end of next year, well quadruple that. As I was listening, there was a quote, you said, "We are farmers and futurists." What makes AppHarvest so unique? Jonathan has a Bachelors degree from the University of Kentucky in Business. We talk about how, Jonathan Webb is the largest individual Appharvest shareholder, owning 20.54M shares representing 19.04% of the company. 95% of a fruit and vegetable is water. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Moser: Yeah. Jonathan Webb poses in front of his giant greenhouse, When you look at human civilization, what do you need? He scored 296 points for England and played in two Rugby World Cups including the 1991 final. An Interview With AppHarvest Founder and CEO Jonathan Webb With that difficult work that in mind, Webb has designed his company to grow as much produce as possible as sustainably as possible. Save my name, email, and website in this browser for the next time I comment. We've had one of our wettest decades on state record. Webb is a highly-respected knee surgeon in the United States. If I can sell you a grocer, a product at around the same price, what are we solving for? document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Your bedroom should be a serene place for you to feel rested and rejuvenated. Growing up in Appalachia, Jonathan Webb watched the slow decline of the coal industry firsthand. Her estimated net worth is more than $15 million. We hit our Q1 guidance, $2.3 million in revenue. Sustainable investor Equilibrium Karrie, on the other hand, has not disclosed her salary or income. ET More on the future of agriculture and vertical farming innovator Linked companies : AppHarvest, Inc. Summary. There are many sources of information on Jonathan Webbs networth. 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. Webb is an expert in reconstructive and arthroscopic surgery. Because it is cutting-edge technology. Moser: Yeah. Once operational, it will ship 45 million pounds of fresh produce annually to grocery stores in the Midwest and Southeast. We are about to plant our first crop in a 60-acre, controlled environment, chemical-free farm. You mentioned your children. 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. 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. I'm sitting in the heart of coal country right now. Here, we've had three years out of the last ten years in Kentucky have been our wettest years on state record. What's the technology that you are looking toward to help you change this space? But I dont think thats adding value to the company, or looking out for our shareholders, he said. "In less than The actor regularly posts photos and videos of himself, as well as engaging with his fans. 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. We look at them over the course of time, years, and hopefully, decades we can be a part of that journey with you all. Like every Kentuckian, Jonathan grew up knowing of the devastating job losses in the region. AppHarvest CEO envisions 'couple-decade journey' after going public By us running on completely recycled rainwater, we have no water cost. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. Learn More. There's not going to be one food company feeding the world. Cost basis and return based on previous market day close. Purpose At Work: How AppHarvests On A Mission To Help We're laser-focused on getting this right here. We have one farm right now thats 2.8 million square feet. My background was a part of building some of the largest solar projects in the U.S. David Lee, who joined us from Impossible Foods, joined impossible foods five years ago as their CFO and COO raised them nearly over $1 billion in the last five years and turned them into what was a boutique idea, into a mass-market product on store shelves. We have a lot of work to do ahead of us over the years to come. Jonathan was named one the Top 30 Most Influential Lawyers in Washingtonians 2018 list upon graduation. Theyre looking for purpose in their life; theyre looking for companies like us.. The president and CEO, Paul Mastronardi said, "We want every AppHarvest tomato they can grow. 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. St John Greek Orthodox Church Easter Schedule, 7 Residential Solar Maintenance Errors and How to Avoid Them, 4 Errors with Kitchen Renovations and How to Avoid Them, An Informative Guide to Livestock Transportation, A Tool That You Need If You are Into Live Stream. AppHarvest We look forward to providing you with even more cutting-edge market research, as Topio Networks. 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. I know you're in the DC area. That's right -- they think these 10 stocks are even better buys. Which is important, because AppHarvest employs well over 300 people in its Morehead facility alone. Are we perfect? AppHarvest CEO envisions 'couple-decade journey' after going public Why? *Average returns of all recommendations since inception. This will result in a $1.7 billion return of investment for the company. We're a public benefit corporation, and we're B Corp certified. Also referred to as blank check companies, the mechanism has existed for several years but has received increased attention of late. Webb: Well, the last great technological revolution in American farming is really when the tractor was introduced. All rights reserved. Consumers are pushing back. Our team is built to scale and you look at where we're at today, we've launched our first facility. Later, in 1993, he relocated to the United Kingdom, where he completed his LLM. I was hoping maybe we could talk a little bit about that idea that you're farmers and futurists. We arent burning through cash with pointless R&D when we can buy incredible technologies over in the Netherlands, Webb says. If you look at AppHarvest, what are we doing? We're ramping up this first facility in the middle of a global pandemic, we had an ice storm. 2023 Fortune Media IP Limited. Never miss a story: Follow your favorite topics and authors to get a personalized email with the journalism that matters most to you. But one thing we'd like to talk about is competitive advantage, what makes a company special? The greenhouse will cost $97 million and span 60 acres. WebAppharvest (: ) is owned by 29.32% institutional shareholders, 30.67% Appharvest 40.01% retail investors. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. WebJonathan Webb, CEO, AppHarvest: AgTech Farming for Our Planets Future. 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. What weve proven through a global pandemic is that we can build one of the largest facilities in the world on time, on budget, at a record pace.. 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. Then by the end of the year in 2022, we'll have five facilities operating. 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. There's a level of rigor that comes with that, and so for us, the SPAC was just a vehicle. Then Jeff Obin, who is on our board and has been an early investor. We thought in order to build an organization that's going to be selling to the top grocers. He was born into a medical family. Powered and implemented by Interactive Data Managed Solutions. I asked on a call earlier today, well, have you had issues hiring people? To access all the content for free, please sign up by entering your email. I think they certainly will be. Jonathan Webb Net Worth - Bologny 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. In order to do that, you have to have rigor. Very excited about the Root AI transaction. ESG should be at the core of profitability and it should be at the core of building a resilient company. I think that's going to be something that just continues to get into the public's mind. Three thoughts on leadership from the founder and CEO WebGet Chad Hill's email address (c*****@appharvest.com) and phone number at RocketReach. It's nearly impossible to have full transparency. His Twitter account is one of the most popular on the social network. The private markets don't need to be a part of the problem, but we can't just be quarterly earnings focused. Webb: To put this in perspective, this was our first facility under operations, our flagship facility. After serving as an assistant public defender in Marylands Office of the Public Defender, Webb joined Ethridge Quinn for 2020. How do they plan on achieving that goal? The world's food and agriculture problems are not going to be solved overnight. Jonathan strives to work alongside the hard-working men and women of Eastern Kentucky and build an inclusive economy for the future. For young people, we've invested heavily in high school education here in this region and part of it is, we're not just building facilities, we're building an ecosystem and part of that is change the narrative that farming is simply outdoors and on a tractor, we very much respect American farmers, we have great respect for the four-season farmer that's putting food on our table but we have to get young people to think, the average age of the American farmer is about 60 years old, and so for us by investing in high schools, it's teaching young people you're operating a farm with an iPhone and iPad using industrial sensors, with robotics operating on AI. Here are five relaxing scents you can use in your bedroom. The Motley Fool recommends AppHarvest, Inc. Recently, I had the opportunity to chat with Jonathan about the growing opportunity in the AgTech space. If you look at the grocery and then you go, wait a second. Well, you need water you need food, and you need energy. He has become a prominent social media star. "Tech for good the consumer wants it. All rights reserved. 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. To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center. His fund's based in DC, we had them as early investors. I'm Jason Moser, thanks for listening, and we'll see you next week. AppHarvest is an indoor farming company, so has massive greenhouses "It's hard to be the one that's looking two decades down the road while thinking of the here and now.". 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. To me, at least, it feels like we are at the [] of a disruptive phase here, and a lot of that is thanks to technology. We'll talk a little bit about that in just a second. 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. His military experience allows him to leverage private capital for his projects. This year alone, more than 50 SPACs have been formed in the US, collectively raising. Your email address will not be published. www.vbprofiles.com is now www.topionetworks.com. Fame | AppHarvest net worth and salary income estimation Jan, Use our online form to book an appointment with Dr. Webb. I think it's clear that investors should really be excited for the future of AgTech. Notify me of follow-up comments by email. We're in that classic scenario of demand exceeding supply.