US – AppHarvest, a leading AgTech company building some of the country’s largest indoor farms has appointed ex-chief finance officer (CFO) of Impossible Foods, David Lee as President.
According to a statement from the startup, David Lee’s appointment will be effective as from January 25th and he will be reporting to AppHarvest Founder & CEO Jonathan Webb.
“In this newly created role, Lee will develop strategy and engage in operations management, leading the sales, marketing and finance functions as AppHarvest continues to grow as a sustainable fresh foods company,”AppHarvest said.
Lee is joining the team from Impossible Foods where he has served as CFO since December 2015.
He is credited with significant growth accomplishments at Impossible Foods including securing more than US$1.3 billion in funding to accelerate the company’s growth.
AppHarvest is thus betting on his skillset to help it grow into an “iconic brand and sustainable foods company that disrupts traditional agriculture to deliver responsibly grown American products with social impact”
Lee has served on the board of directors of AppHarvest since August of 2020 and will continue to serve in that role after the closing of the previously announced business combination of AppHarvest with Novus Capital Corporation.
AppHarvest grows produce using 100 percent recycled rainwater and zero chemical pesticides.
Its indoor farms are designed to use 90 percent less water with yields that are up to 30 times higher compared to traditional open-field agriculture on the same amount of land.
In January, AppHarvest expects to begin the first harvest from its flagship farm – a 60-acre facility growing tomatoes – in Morehead, Kentucky.
The company has two additional facilities under construction in Kentucky – a similar 60-plus acre facility outside Richmond and a 15-acre facility to grow leafy greens in Berea.
AppHarvest also is planning for more facilities across Kentucky and Central Appalachia, with nine potential projects in the pipeline through 2025.
Earlier this year, AppHarvest led a landmark 17-organization agreement uniting Dutch and Kentucky governments, universities, and private companies, with all committing to building America’s AgTech capital from within Appalachia.
Through these strong relationships with AgTech universities and companies in the Netherlands, AppHarvest hopes to replicate success of the Dutch in developing a significant high-tech greenhouse industry
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