AppHarvest, a Morehead, Ky.-based developer of large-scale tomato greenhouses, is going public via a reverse merger with a SPAC called Novus Capital (Nasdaq: NOVSU). The company would have an initial market value of around $1 billion.
Revol Greens announced that it closed a $68 million funding round, bringing the fast-growing company’s total financing to $215 million as it executes on its strategy of five locations in five years.
AppHarvest (“the Company”), a developer and operator of large-scale, high-tech controlled environment indoor farms, and Novus Capital Corp. (Nasdaq: NOVS) (“Novus Capital”), a publicly-traded special purpose acquisition company, announced today a definitive agreement for a business combination that would result in AppHarvest becoming a public company.
Hort Americas is currently working on a germination and propagation project of leafy greens and culinary herbs.
The Texas indoor farm would be the startup’s third climate-controlled, solar-powered facility that grows produce sustainably and locally. CEO Mark Schulze says Revol’s high-tech greenhouses will make it the largest producer of indoor lettuce by the end of 2021.
Revol Greens announced today it closed a $68 million funding round, bringing the fast-growing company’s total financing to $215 million as it executes on its strategy of five locations in five years.
Minnesota-based Revol Greens has closed a $68m funding round led by Equilibrium Capital — bringing the company’s total financing to $215m — to launch a third lettuce greenhouse facility in Texas, which will bring its total annual output to 33 million pounds of greens able to reach one-third of the US population within 24 hours of harvest.
Once overlooked as a viable alternative to the growing issue of providing food for an ever-populous world, Controlled Environment Agriculture (CEA) has gained much traction as of late, especially since COVID-19 has highlighted the vulnerability of the current ag supply chain.
Imagine yourself in a modern finishing barn. However, instead of livestock, you see leafy greens stretching the length of seven and a half football fields.
Mark Schulze is overseeing a “five facilities in five years” plan to develop additional regional greenhouses around the country.