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How AppHarvest’s indoor farming scheme imploded (2023)

smcin

JD Vance, Martha Stewart were on the board of this indoor vertical farming startup. It went public in 2020 via a Covid-era SPAC (Novus Capital Corp), in 2021 raised $700m then went public at a $1b valuation, was sued by shareholders for securities fraud in 2022 (Vance had left in 2021), then filed for Chapter 11 bankruptcy in 2023.

[0]: https://en.wikipedia.org/wiki/AppHarvest

[1]: https://apnews.com/article/appharvest-indoor-farming-bankrup...

[2]: Coverage of Plenty, Bowery, AppHarvest and AeroFarms https://techcrunch.com/2025/03/24/vertical-farming-company-p...

itsdrewmiller

Needs (2023) - discussed previously here: https://news.ycombinator.com/item?id=34959649

tomhow

Thanks!

The vertical farming bubble is finally popping - https://news.ycombinator.com/item?id=34959649 - Feb 2023 (270 comments)

grg0

Also, "Exposé". Grammar don't check otherwise.

99_00

I don’t get it. How could a high tech green house ever be more profitable than free sunshine, dirt

Your product gets, what? Max $2.50/# retail?

aaron695

[dead]