Indoor farming start-up with Martha Stewart on its board joins the SPAC craze to go public

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'We're on a warpath here to change agriculture for the good, get chemical pesticides out, get labor practices we can all be proud of,' AppHarvest CEO Jonathan Webb told CNBC.

"The world needs 50% to 70% more food by 2050. Some are saying we would need two planet Earths to grow that food with the way we're currently growing it today," said Webb, a Kentucky native who founded AppHarvest in 2017. He previously worked on solar projects with the Department of Defense.

"In my lifetime, the way most power will come from renewables, most cars will be run on electricity, most fruits and vegetables in this world at scale are going to be grown indoors and in a controlled environment," he added. "We simply do not have a choice." AppHarvest said its indoor farming approach uses 90% less water than traditional agriculture and suggests its location in eastern Kentucky can lower transportation costs and emissions when delivering the produce. A majority of fresh tomatoes sold in the U.S., for example, are"We've pushed most of our produce production down to Mexico, trucking it 2,000 miles to get to major markets," Webb said. "We're going to rip the produce industry from the Southwest of the U.S.

 

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Idiocy! In the end, all they are is a tiny little 60 acre farm with much higher overhead costs! FYI - a 60 acres farm isn't big enough to feed a small city! And farming inside. . . nothing proprietary there! Fools and their money . . .

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