AppHarvest Names Kaveh Bakhtiari as Vice President of Investor Relations

Rhea-AI Summary

AppHarvest has appointed Kaveh Bakhtiari as the new VP of Investor Relations, effective May 17, 2021. Bakhtiari aims to enhance relationships with the investment community, utilizing his extensive experience in building investor relations programs. This initiative aligns with AppHarvest's commitment to radical transparency and its mission to establish high-tech indoor farms, which utilize 90% less water than traditional agriculture. AppHarvest plans to expand its network of farms, targeting a total of 12 facilities by the end of 2025.

Positive

• Appointment of Kaveh Bakhtiari as VP of Investor Relations, expected to strengthen investor relationships.
• Commitment to radical transparency in investor communications.
• Expansion plan to build 12 high-tech indoor farms by the end of 2025.

Negative

• None.

Bakhtiari will strengthen and expand relationships with AppHarvest investment community through comprehensive experience in building best-in-class investor relations programs across industries

MOREHEAD, Ky., May 14, 2021 (GLOBE NEWSWIRE) -- AgTech leader AppHarvest (NASDAQ: APPH, APPHW), a public benefit company and certified B Corporation focused on farming more sustainably using 90% less water than open-field agriculture and only recycled rainwater, today announced Kaveh Bakhtiari will join as the company in a newly created role as VP, Investor Relations, effective May 17, 2021.

In this new position, Bakhtiari will focus on developing AppHarvest’s strategic positioning and building relationships with the global investment community.

“Radical transparency is a core value at AppHarvest and that’s why we’re so eager to upgrade our investor relations program with the addition of Kaveh,” said AppHarvest President David Lee. “His wealth of knowledge in social impact investing and his faith in the mission will help us keep current investors that we’re so grateful for updated and carry our message to more investors as we build out our network of 12 high-tech indoor farms by the end of 2025.”

Bakhtiari is an accomplished senior executive with extensive investor relations experience and a deep interest in civic agriculture. He joins AppHarvest from Hillenbrand, Inc., a global diversified industrial company. Bakhtiari earned both his bachelor’s degree in biological sciences and his MBA in finance and strategic management from the University of Chicago and is a CFA charterholder.

“I am committed to consistent and transparent communication with investors and analysts, and I am delighted to be joining AppHarvest at this exciting time in the company’s history,” said Bakhtiari. “I believe in the AppHarvest mission because the problem with our food system is real, the CEA solution is practical and it is a model that can be replicated broadly as the company and sector grow for the benefit of society at large.”

AppHarvest will host its Q1 earnings call on May 17.

About AppHarvest

AppHarvest is an applied technology company building some of the world’s largest high-tech indoor farms in Appalachia that grow non-GMO, chemical pesticide-free produce using 90 percent less water than open-field agriculture and only recycled rainwater while producing yields up to 30 times that of traditional agriculture on the same amount of land with zero agricultural runoff. The Company combines conventional agricultural techniques with cutting-edge 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 U.S. 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,” 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 future financial performance, as well as AppHarvest’s growth plans and strategy, ability to capitalize on commercial opportunities, future operations, 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 Registration Statement on Form S-1 (No. 333-252964) filed with the SEC by AppHarvest on February 10, 2021 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 press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

MEDIA CONTACT: Travis Parman, Travis.Parman@appharvest.com
INVESTOR CONTACT: Matt Chesler, CFA, appharvestIR@appharvest.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/06ab8156-c814-4937-9156-327581273963

FAQ

Who is Kaveh Bakhtiari and what role will he play at AppHarvest?

Kaveh Bakhtiari is appointed as VP of Investor Relations at AppHarvest, effective May 17, 2021. He will enhance relationships with the investment community.

What is AppHarvest's mission related to agriculture?

AppHarvest focuses on sustainable farming, utilizing 90% less water than traditional agriculture and aiming to build high-tech indoor farms.

What are AppHarvest's future plans for expansion?

AppHarvest plans to expand its network to 12 high-tech indoor farms by the end of 2025.

When is AppHarvest's Q1 earnings call scheduled?

The Q1 earnings call for AppHarvest is scheduled for May 17, 2021.

What does the title VP of Investor Relations entail?

The VP of Investor Relations is responsible for developing strategic positioning and building relationships with the investment community.