AppHarvest Hires CBRE’s Christopher Scott to oversee construction and commissioning of new indoor farms – GlobeNewswire

AppHarvest Hires CBREs Christopher Scott to oversee construction and commissioning of new indoor farms

Appalachian natives experience includes hundreds of projects across multiple countries

MOREHEAD, Ky., Dec. 09, 2020 (GLOBE NEWSWIRE) -- AppHarvest today announced the hiring of Christopher Scott as executive vice president and head of enterprise development. He will be responsible for overseeing the construction and commissioning of new facilities for the AgTech leader, which recently opened the first 30 of 60 acres of growing space at its flagship indoor farm in Morehead, Ky., thats the equivalent of nearly 50 football fields.

An Appalachian native, Scott comes to AppHarvest with decades of experience leading facility programs and business development for companies including CBRE, as well as information technology distribution companies Ingram Micro and BrightPoint. He served in a variety of leadership roles over two decades for Ingram Micro and BrightPoint, which was acquired by Ingram Micro for $650 million in 2012. Scott has worked around the world overseeing the development and construction of buildings, including state-of-the-art fulfillment centers incorporating complex automation and technology solutions.

This is a dream job for me, as AppHarvest is building some of the worlds largest indoor farms and utilizing cutting-edge technology in both construction and operations. As an Appalachian native, its incredible to see the impact the company is already making on both agriculture and the region, Scott said.

Added AppHarvest Founder & CEO Jonathan Webb, Christophers long-time focus on sustainability, including chairing BrightPoints sustainability program, demonstrates his commitment to our mission and values as we seek to redefine American agriculture.

Scott joins AppHarvest from CBRE, where he served as director of professional services and business development. His prior work for Ingram Micro and BrightPoint also included overseeing the integration of multiple acquired companies.

He holds a bachelors degree in finance from Ball State Universitys Miller College of Business.

At AppHarvest, Scott will be responsible for overseeing commissioning and construction of new facilities. The company in October opened the first 30 of 60 acres of growing space at its flagship farm in Morehead, Ky. Construction is also underway on two additional facilities a similar 60-plus acre facility outside Richmond, Ky., and a 15-acre facility to grow leafy greens in Berea, Ky.

How is AppHarvest different from traditional agriculture companies?

In just over two years, AppHarvest has attracted more than $150 million in investment into Central Appalachia and announced on September 29, 2020, its entry into a definitive agreement for a business combination with publicly-traded special purpose acquisition company Novus Capital Corporation (Nasdaq: NOVS). The combination, which is expected to close late in the fourth quarter of 2020 or early in the first quarter of 2021, is expected to provide $475 million of gross proceeds to the company, including $375 million from a fully committed common stock PIPE at $10.00 per share anchored by existing and new investors including Fidelity Management & Research Company LLC, Inclusive Capital, and Novus Capital Corporation. Upon closing of the transaction, the combined company will be named AppHarvest and is expected to remain listed on Nasdaq under the ticker symbol APPH.

AppHarvests investors include Revolutions Rise of the Rest Seed Fund, Inclusive Capital Partners, Equilibrium, Narya Capital, Lupa Systems, Breyer Capital and Endeavor Catalyst. Endeavor selected AppHarvest Founder & CEO Jonathan Webb as an Endeavor Entrepreneur in 2019.

Board members include food icon Martha Stewart, Narya Capital Co-Founder and Partner JD Vance, Impossible Foods Chief Financial Officer David Lee and impact investor Jeff Ubben.

About AppHarvestAppHarvest is an applied technology company building some of the worlds largest indoor farms in Appalachia. The Company combines conventional agricultural techniques with cutting-edge technology and is addressing key issues including improving access for all to nutritious food, farming more sustainably, building a home-grown food supply, and increasing investment in Appalachia. The Companys 60-acre Morehead, KY facility is among the largest indoor farms in the U.S. For more information, visit https://www.appharvest.com/.

Forward-Looking StatementsCertain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as believe, may, will, estimate, continue, anticipate, intend, expect, should, would, plan, predict, potential, seem, seek, future, outlook, and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. All statements, other than statements of present or historical fact included in this press release, regarding Novus Capitals proposed acquisition of AppHarvest, Novus Capitals ability to consummate the transaction, the benefits of the transaction and the combined companys future financial performance, as well as the combined companys growth plans and strategy, future operations, estimated financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of AppHarvests management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of AppHarvest. These forward-looking statements are subject to a number of risks and uncertainties, including those discussed in Novus Capitals registration statement on Form S-4, filed with the SEC on October 9, 2020 (the Registration Statement), under the heading Risk Factors, and other documents Novus Capital has filed, or will file, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. In addition, forward-looking statements reflect AppHarvests expectations, plans, or forecasts of future events and views as of the date of this press release. AppHarvest anticipates that subsequent events and developments will cause its assessments to change. However, while AppHarvest may elect to update these forward-looking statements at some point in the future, AppHarvest specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing AppHarvests assessments of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Important Information for Investors and StockholdersIn connection with the proposed transaction, Novus Capital has filed the Registration Statement with the SEC, which includes a preliminary proxy statement to be distributed to holders of Novus Capitals common stock in connection with Novus Capitals solicitation of proxies for the vote by Novus Capitals stockholders with respect to the proposed transaction and other matters as described in the Registration Statement, as well as the prospectus relating to the offer of securities to be issued to AppHarvests stockholders in connection with the proposed transaction. After the Registration Statement has been declared effective, Novus Capital will mail a definitive proxy statement, when available, to its stockholders. Investors and security holders and other interested parties are urged to read the proxy statement/prospectus, any amendments thereto and any other documents filed with the SEC carefully and in their entirety when they become available because they will contain important information about Novus Capital, AppHarvest and the proposed transaction. Investors and security holders may obtain free copies of the preliminary proxy statement/prospectus and definitive proxy statement/prospectus (when available) and other documents filed with the SEC by Novus Capital through the website maintained by the SEC at http://www.sec.gov, or by directing a request to: Novus Capital Corporation, 8556 Oakmont Lane, Indianapolis, IN 46260. The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this press release.

Participants in the SolicitationNovus Capital and its directors and officers may be deemed participants in the solicitation of proxies of Novus Capitals shareholders in connection with the proposed business combination. Security holders may obtain more detailed information regarding the names, affiliations and interests of certain of Novus Capitals executive officers and directors in the solicitation by reading the Registration Statement and other relevant materials filed with the SEC in connection with the business combination when they become available. Information concerning the interests of Novus Capitals participants in the solicitation, which may, in some cases, be different than those of their stockholders generally, is set forth in the Registration Statement.

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AppHarvest Hires CBRE's Christopher Scott to oversee construction and commissioning of new indoor farms - GlobeNewswire