AF, here is (Dow Jones) APPH data: Indoor Farming CEO Says Scale Will Bring It Success -- Food Forum Market Talk
12:09 pm ET June 28, 2022 (Dow Jones) Print
12:09 ET - AppHarvest CEO Jonathan Webb says his indoor-farming business is scaling up to get costs down, currently serving national customers like Costco and Wendy's. A century from now, crops won't be grown outside anymore because of climate change, he says at the WSJ Global Food Forum. "Bringing all fruits and vegetables indoors is not our decision. We won't have a choice," he says. Expanding will bring costs down for indoor farms, while traditional farming gets more expensive thanks to inflation in fertilizer, water and other aspects of field farming. "We are able to control many of those costs," Webb says. AppHarvest shares, down 76% over the past 12 months, rise 4.3% to $3.88. (annie.gasparro@wsj.com)
(END) Dow Jones Newswires
June 28, 2022 12:09 ET (16:09 GMT)
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