![]() Major food retailers have demonstrated increasing interest in high-tech indoor farms for their ability to de-risk fruit and vegetable production with a more climate-resilient, more sustainable year-round growing solution that uses far fewer resources. AppHarvest benefits from turning first to sunshine for its growing and from being water-independent, leveraging rainwater for its farms that use up to 90% less water and a fraction of the required nutrients compared to open-field agriculture. to more frequent flooding to catastrophic wind events-are making it harder than ever for open-field farmers to predict the duration of their growing seasons and to have conditions that result in a quality harvest. Changing weather patterns-ranging from mega-drought in the Southwest of the U.S. fruit and vegetable imports rose to a record level in 2021 and has been projected to keep increasing. “We are now at an inflection point in our business transitioning from construction to an intense focus on operations with our new Chief Operating Officer (COO) Tony Martin, leveraging his deep experience in the sector to help accelerate our path to profitability through the consistent delivery of high-quality produce.”Īccording to USDA reports, the value of U.S. ![]() “Even with headwinds from the pandemic and supply chain disruption, AppHarvest met its commitment in 2022 to open three new farms and is now shipping commercially from each of the four farms,” said AppHarvest Founder & CEO Jonathan Webb. With significant infrastructure now in place to deliver fresh fruits and vegetables to top grocery chains and restaurants, the company expects to nearly triple its net sales year-over-year in 2023. (NASDAQ: APPH, APPHW), a sustainable food company, public benefit corporation and Certified B Corp building some of the world’s largest high-tech indoor farms to grow affordable, nutritious fruits and vegetables at scale while providing good jobs in Appalachia, today announced its fourth quarter and full-year 2022 operating and financial results, achieving its previous revised guidance, quadrupling the AppHarvest farm network in 2022 and diversifying its crop portfolio. MOREHEAD, Ky., Ma(GLOBE NEWSWIRE) - AppHarvest, Inc. ![]() Setting the stage for expected year-over-year sales increases throughout 2023Ĭompany increased net sales by 60% year-over-year ![]() “We’re developing a tenured workforce and seeing benefits of promoting from within to help drive efficiency and quality from folks who have grown the business with us from the ground up.Punnets of strawberries from AppHarvest Somerset, a 30-acre high-tech indoor farm in Somerset, Ky., growing strawberries under multiple brands including the “WOW® Berries” brand for Mastronardi Produce.Ĭompany successfully quadrupled to a four-farm network in 2022, “With the experience of two seasons of harvests, the Morehead farm is seeing significantly improved quality and yield, which largely can be attributed to task completion rates of crop care specialists meeting and sometimes exceeding 100% of goal,” AppHarvest founder and CEO Jonathan Webb said in the release. The crop set is 50% beefsteak tomatoes, 25% tomatoes on the vine and 25% snacking tomatoes, according to the release. While the fourth farm in Richmond, a 60-acre facility, is still under construction, half of the farm has been planted with Campari and Maranice varieties of tomatoes on the vine, with an expected harvest in January 2023, according to a news release.ĪppHarvest’s Moreland farm is heading into its third harvest season with a more diversified range of tomatoes, adding snacking tomatoes sold under the Sunset brand to the mix. ![]()
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