Money Is Pouring Into Greenhouse Tech. Its First Business To Go Public Is Far From Ripe.

Photo caption: AppHarvest’s 60-acre indoor farm in Morehead, Kentucky grows a variety of tomatoes on the vine and beefsteaks. Appharvest. Article by Chloe Sorvino. Forbes – January 29, 2021.

AppHarvest hadn’t grown a single piece of produce when it announced it would be going public through a SPAC reverse merger that values the startup greenhouse at more than $1 billion and has it on track to raise $460 million when it starts trading next week.

Those are pretty tatty numbers for a 60-acre indoor farm that started shipping its first harvest just last week, with batches of organic tomatoes on the vine headed to early investors that include Martha Stewart and bestselling author J.D. Vance, as well as the brand’s first retailers, including Walmart, Kroger, Meijer and Publix. […]

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