– USA, KY – AppHarvest, Inc. (NASDAQ: APPH/APPHW), a leading AgTech company today announced the appointment of Patrick Halfmann to its Board of Directors, effective immediately, Patrick Halfmann filling a seat vacated by Jeff Ubben who is rotating off the board.
“I believe Patrick’s deep experience with high-growth companies and public company investing, combined with insights in ESG [environmental, social and governance], will support the company’s continued focus on scalable and sustainable growth. I expect Patrick’s institutional knowledge and continuity will be key advantages as the company forges a path to positive operating cashflow and brings three new farms online this year working to generate long-term shareholder value,” said President and Board Member, David Lee.
Patrick Halfmann will join the audit committee and the sustainability committee.
“Jeff’s leadership and expertise helped us lay a solid foundation for building a resilient business as we remain in hypergrowth mode expanding the farm network this year,” said Founder and CEO, Jonathan Webb.
About Patrick T. Halfmann
Patrick Halfmann is a partner at the investment firm, Inclusive Capital, and is currently a director of Noodle Partners and GreenStruxure. He has been working with AppHarvest since mid-2019 supporting the Inclusive Capital investment in the company.
Prior to joining Inclusive Capital at its inception, he was an associate at ValueAct Capital and also worked at Morgan Stanley with roles in investment banking and equity and fixed income research. Halfmann graduated summa cum laude from the University of Vermont with a B.S. in Business Administration and is a CFA charterholder.
“I look forward to working actively with the company’s inspired leadership team and board to continue to position AppHarvest as a leader in the burgeoning field of controlled environment agriculture,” said Patrick Halfmann.
About AppHarvest
AppHarvest is an applied technology company in Appalachia developing and operating some of the world’s largest high-tech indoor farms, designed to grow non-GMO, chemical pesticide-free produce, using up to 90 percent less water than open-field agriculture and only rainwater while producing yields up to 30 times that of traditional agriculture on the same amount of land without an agricultural runoff. The company combines conventional agricultural techniques with world-class technology including artificial intelligence and robotics to improve access for all to nutritious food, farming more sustainably, building a domestic food supply and increasing investment in Appalachia. The company’s 60-acre Morehead, Ky. facility is among the largest indoor farms in the world.
AppHarvest is on track to quadruple its farm network and diversify its crops to include berries and salad greens by year-end. The 15-acre Berea, Ky., salad green facility is approximately 79% complete. The 60-acre Richmond, Ky., tomato facility is approximately 68% complete, and the 30-acre Somerset, Ky., berry facility is approximately 55% complete. The company expects to ramp up each facility with a phased approach that brings on additional productive acreage over time, starting with the Berea facility this summer.
AppHarvest’s flagship 60-acre Morehead, Ky. farm has been harvesting since January 2021, and its tomatoes have been sold in more than 1,000 stores and restaurants.
For more information: https://www.appharvest.com/
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