AppHarvest

AppHarvest is an agricultural technology company that operates high-tech indoor farms in Kentucky. Founded in 2018 by Jonathan Webb, the company aims to revolutionize farming through controlled environment agriculture (CEA). AppHarvest's facilities use advanced technologies like robotics and artificial intelligence to grow produce year-round while using up to 90% less water than traditional open-field farming. The company's main crops include tomatoes, salad greens, strawberries, and cucumbers, grown in large-scale greenhouses that leverage natural sunlight supplemented by LED lighting.

AppHarvest's approach differs from vertical farming by utilizing a hybrid model that combines natural sunlight with technological enhancements. The company's facilities feature closed-loop irrigation systems that recycle rainwater and allow for precise nutrient dosing. AppHarvest claims its methods can produce yields up to 30 times higher than traditional agriculture on the same amount of land without agricultural runoff.

The company went public in February 2021, initially reaching a valuation of USD 1 billion that grew to USD 3.7 billion shortly after. However, AppHarvest faced significant challenges in scaling its operations profitably. By July 2023, the company filed for Chapter 11 bankruptcy protection, citing over USD 341 million in debt against USD 110.6 million in current assets. Throughout its operation, AppHarvest struggled with lower than expected crop yields, elevated operational costs, and difficulties in workforce management and training.