AppHarvest named finalist for 2022 SXSW Innovation Awards

Rhea-AI Summary

AppHarvest, a leading AgTech company, has been named a finalist for the 24th annual SXSW Innovation Awards in the New Economy category for its 60-acre high-tech indoor farm in Morehead, KY. The company aims to quadruple its farm network and diversify its crop production to include salad greens and berries by year-end 2022. With a focus on sustainability, AppHarvest employs advanced technologies including artificial intelligence and robotics, intending to produce yields up to 30 times that of traditional farming while using 90% less water.

Positive

• Finalist for the SXSW Innovation Awards, recognizing innovation in technology.
• Plans to quadruple farm network and diversify crops by the end of 2022.
• Emphasis on sustainability, utilizing AI and robotics for efficient farming.
• Existing flagship farm produces non-GMO tomatoes in over 1,000 stores.

Negative

• None.

AppHarvest’s high-tech indoor farm recognized for innovation in New Economy category

AppHarvest to present at SXSW Innovation Awards Showcase March 12

Company on track to quadruple its farm network and diversify crops to include salad greens and berries by year-end

24^th Annual SXSW Innovation Award winners to be announced on March 14

MOREHEAD, Ky., March 09, 2022 (GLOBE NEWSWIRE) -- AppHarvest, Inc. (NASDAQ: APPH, APPHW), a leading AgTech company, public benefit corporation and Certified B Corp building some of the country’s largest high-tech indoor farms to grow affordable, nutritious fruits and vegetables at scale while providing good jobs in Appalachia, has been named one of five finalists for the 24^th annual SXSW Innovation Awards in the New Economy category for its 60-acre high-tech indoor farm in Morehead, Ky.

The SXSW Innovation Awards recognize and celebrate the most exciting tech developments in the connected world. Of hundreds of applications submitted, AppHarvest was one of 65 finalists selected across 13 categories by a panel of judges composed of industry peers and experts.

Climate change is decimating outdoor crops and threatening the global food supply. AppHarvest believes high-tech indoor farms are a key part of the solution to build a climate-resilient food system by leveraging the best of nature, people and technology including artificial intelligence and robotics.

“We need sustainable solutions to feed the world’s growing population using fewer resources while providing good jobs,” said Jonathan Webb, AppHarvest Founder & CEO. “We’re grateful for the spotlight that the SXSW recognition puts on this critical issue and the innovation of our approach to controlled environment agriculture [CEA] leveraging nature supported by world-class technology like artificial intelligence and robotics to grow fruits and vegetables using 90% less water, with up to 30 times yield per acre versus traditional farming.”

AppHarvest will review the company and its technology in the SXSW Innovation Awards Showcase on Saturday, March 12, from 11 a.m. to 6 p.m. at the JW Marriott Austin - Griffin Hall. AppHarvest will offer virtual reality tours of its flagship farm that is about 50 football fields in size with a rainwater reservoir the size of around 70 Olympic swimming pools. The winners in each of the 13 categories, plus additional honors, will be awarded at the 24th annual SXSW Innovation Awards on Monday, March 14, 2022.

AppHarvest’s flagship 60-acre indoor farm in Morehead, Ky., produces non-GMO sustainably grown tomatoes that are available in more than 1,000 top national grocery stores and food service outlets. The company is quadrupling its farm network and diversifying its crops to include salad greens and berries by year-end. The three new high-tech farms—the 15-acre Berea, Ky., salad greens facility, the 60-acre Richmond, Ky., tomato facility and the 30-acre Somerset, Ky., berry facility are currently under construction and are expected to be operational by the end of 2022.

AppHarvest is developing artificial intelligence, software and robotics solutions such as Virgo, a prototype universal harvesting tool, both to optimize its farms and to serve the larger controlled environment agriculture sector globally. The company is also investing in the next generation of farmers and futurists by supporting high school AgTech education in Central Appalachia with hands-on, high-tech hydroponic classrooms.

For more information about the SXSW Innovation Awards and to view the complete list of 2022 finalists, visit www.sxsw.com/awards/innovation-awards/.

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 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. For more information, visit https://www.appharvest.com/.

Forward-Looking Statements

Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “can,” “goal,” “target” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. All statements, other than statements of present or historical fact included in this press release, regarding AppHarvest’s intention to build high-tech CEA farms, the anticipated benefits of and production at such facilities, timing and availability of tomatoes at top national grocery stores and restaurants, anticipated benefits of the second season harvest, AppHarvest’s future financial performance, as well as AppHarvest’s growth and evolving business plans and strategy, ability to capitalize on commercial opportunities, future operations, estimated financial position, projected costs, prospects, plans and objectives of management are forward-looking statements. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of AppHarvest’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of AppHarvest. These forward-looking statements are subject to a number of risks and uncertainties, including those discussed in the company’s Annual Report on Form 10-K filed with the SEC by AppHarvest on March 1, 2022, under the heading “Risk Factors,” and other documents AppHarvest has filed, or that AppHarvest will file, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. In addition, forward-looking statements reflect AppHarvest’s expectations, plans, or forecasts of future events and views as of the date of this press release. AppHarvest anticipates that subsequent events and developments will cause its assessments to change. However, while AppHarvest may elect to update these forward-looking statements at some point in the future, AppHarvest specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing AppHarvest’s assessments of any date subsequent to the date of this news release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

MEDIA CONTACT: Travis Parman, Travis.Parman@appharvest.com   
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FAQ

What recognition has AppHarvest received recently?

AppHarvest has been named a finalist for the 24th annual SXSW Innovation Awards in the New Economy category.

What are AppHarvest's plans for crop diversification?

AppHarvest plans to diversify its crops to include salad greens and berries by the end of 2022.

What farming techniques does AppHarvest use?

AppHarvest employs advanced technologies including artificial intelligence and robotics to enhance farming efficiency.

Where is AppHarvest's flagship farm located?

AppHarvest's flagship 60-acre farm is located in Morehead, Kentucky.

How does AppHarvest contribute to sustainability?

AppHarvest's indoor farming techniques use up to 90% less water than traditional agriculture and aim for higher yields.