jonathan webb appharvest net worth
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. Investors Dig Into AppHarvest | The Motley Fool - Nasdaq I'm really excited to have you all as a recommendation in our service and hopefully, our members are too after talking with you today. *Average returns of all recommendations since inception. 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. 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. But really its water and food first. 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. AppHarvest has invested in a 2.76million-square-foot greenhouse in Morehead (Ky.) to help meet this goal. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. But with that said, what we have at AppHarvest is fairly unique. Webb is an expert in reconstructive and arthroscopic surgery. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. They ask themselves, Did we help five people today? You start to do the math, and realize you might need two planet earths to have enough land and water to grow that food.. 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 But I wonder, is there something to your mind? The show also discusses the benefits of Martha Stewart being on their board and how they plan get their products onto shelves. I'm Jason Moser, thanks for listening, and we'll see you next week. With that difficult work that in mind, Webb has designed his company to grow as much produce as possible as sustainably as possible. We are about to plant our first crop in a 60-acre, controlled environment, chemical-free farm. I love that passion. Did we help them reach their goals? Again, tomatoes are our first crop, but by next year, strawberries and leafy greens. AppHarvest Once operational, it will ship 45 million pounds of fresh produce annually to grocery stores in the Midwest and Southeast. He has many impressive accomplishments. Amid the verdant rolling hills of central Kentucky, in the heart of Appalachian coal country, youll When he says sustainable, he doesnt just mean that in an environmental sense. Jonathan Webb 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. 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. Jonathan Webb was born on 24 August 1963, in London, England. The president and CEO, Paul Mastronardi said, "We want every AppHarvest tomato they can grow. Jonathan Webb poses in front of his giant greenhouse, When you look at human civilization, what do you need? 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. We're ramping up this first facility in the middle of a global pandemic, we had an ice storm. We pay every employee at AppHarvest a living wage. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. AppHarvest to go public, seeks $475m at $1bn valuation - AFN I cant say this was the exact plan but what accelerated all of this was Covid-19, AppHarvest CEO Jonathan Webb told AFN. I asked on a call earlier today, well, have you had issues hiring people? Project Access offers ESL/ESL classes, after school programs, and computer literacy. There's going to be a lot of companies hopefully working to solve our food and agriculture problems. No one else in America is doing something at that scale. I want to figure out what I can do, as CEO, to ensure everyone has the resources to succeed. I think you really keyed in on something important there, a 30-year journey. We've moved most of our fruit and vegetable production down to Mexico and we're importing and shipping in 2,000 miles. 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. Most countries in the Middle East import nearly all of their fruit and vegetables. But if you look at all the problems in the agriculture system, this industry really solves most of those problems. Yes, today, we met our quarterly earnings projection, we hit our guidance, but we're making the hard investments and spending the hard time to set an organization up that's going to thrive 10 and 20 years from now. It's therefore worth looking at AppHarvest's earnings history below. 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. Now, we want to turn this region into an area of the country that's known for sustainable food production, but beyond just loving the place, I'm from Kentucky, beyond just loving this area, we can get to three quarters of the U.S. on a day drive. Jonathan has a Bachelors degree from the University of Kentucky in Business. Jonathan Webb is a dual-qualified lawyer. Then Jeff Obin, who is on our board and has been an early investor. Also referred to as blank check companies, the mechanism has existed for several years but has received increased attention of late. 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. Also referred to as blank check companies, the mechanism has existed for several years but has received increased attention of late. 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. Linked companies : AppHarvest, Inc. Summary. Visualize this, down the rows of our facility, we have a robust that's going to take thousands of photos of a tomato plant. Other AppHarvest investors include TV cook Martha Stewart, VC veteran Peter Thiel, ValueAct Capitals Spring Fund, Revolutions Rise of the Rest Seed Fund, Equilibrium Capital, and Narya the new VC firm co-founded by JD Vance, author of best-selling Appalachian memoir Hillbilly Elegy. Webb is from Kentucky, where 16% of residents are Webb is a highly-respected knee surgeon in the United States. And because of the work they are doing, those companies will be able to hire the brightest people, despite resignation trends. On Twitter, the actor shares his personal experiences with his followers. After serving as an assistant public defender in Marylands Office of the Public Defender, Webb joined Ethridge Quinn for 2020. 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. We're in that classic scenario of demand exceeding supply. 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. The last thing I would say to that is whether or not we want to do it or not, the world is changing and regulators are approaching back. He was born into a medical family. Follow him on Twitter to get more updates. Growing up in Appalachia, Jonathan Webb watched the slow decline of the coal industry firsthand. Webb founded it in 2017 in his native Kentucky; it became a certified B Corp two years later. 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. WebJonathan Webb, CEO, AppHarvest: AgTech Farming for Our Planets Future. Europe, Menlo Park, China), Where the person is located (e.g. By being able to have robotics and AI they can have more real-time information. 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. He has over 100 civil and criminal jury trials and has represented clients in counties across Georgia. 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 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 actively engages with his followers through his various social media accounts, including Instagram and Twitter. ET More on the future of agriculture and vertical farming innovator 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. 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! If you look at the grocery and then you go, wait a second. In 1985, he joined Bristol Rugby and won the John Player Cup. Your email address will not be published. His military experience allows him to leverage private capital for his projects. 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.