It's Official...

It’s public knowledge. AppHarvest is officially a member of the NASDAQ family. The ‘APPH’ ticker soared 44% on opening day, bringing lots of attention to acronyms such as CEA and SPAC. Let’s go there. CEA: Controlled-environment agriculture. Newsflash folks, this ain’t your average greenhouse. The Kentucky-based indoor farming startup is making waves in the agrifood value chain. Some highlights of their 60-acre facility include:

• 45 million pounds of tomatoes produced a year and shipped to folks like Kroger, Walmart, and Publix. Berries, leafy greens, and cucumbers are in the future.

• 90% less water usage than traditional open-field production via a powerful hydroponic system.

• Location, location, location. The site sits within a one-day drive of 70% of the U.S. population.

And let’s not forget SPAC:

 Special Purpose Acquisition Company. In order to bypass the complications of an initial public offering

, AppHarvest chose the cheaper, faster, 

yet riskier route.

 Novus Capital Corp, an existing holding business on the NASDAQ, bought the agtech firm, and then they reverse-merged, leaving AppHarvest as the actual public company.

AppHarvest’s vision:

 Grow more food, and fast. The team has already cleaned the confetti and is back to work, with plans for 12 more farms to be built by 2025.