AppHarvest joins Russell 2000® Index, expanding exposure among investors
June 28 2021 - 7:30AM
AppHarvest (NASDAQ: APPH, APPHW), a leading AgTech company,
public benefit corporation and Certified B Corp focused on
delivering fresh fruits and vegetables more sustainably using up to
90% less water than open-field agriculture and only rainwater,
today announced the company is being added to the Russell 2000®
index, effective Monday, June 28.
“Inclusion in the Russell 2000 is a significant milestone in our
growth as a public company and reflects the progress we’ve made in
building a trusted, high-tech sustainable foods company with the
highest ESG principles,” said AppHarvest Founder & CEO Jonathan
Webb. “As we focus on operational excellence and delivering on our
targets, inclusion in the Russell 2000 will help carry our message
to more investors as we work to build out our network of 12
high-tech indoor farms by the end of 2025.”
Annually, FTSE Russell captures the 4,000 largest U.S. stocks as
of May 7, ranking them by total market capitalization. Membership
in the small-cap Russell 2000® index, which remains in place for
one year, means automatic inclusion in the U.S. all-cap Russell
3000® Index, as well as the appropriate growth and value style
indexes. FTSE Russell determines membership for its Russell indexes
primarily by objective, market-capitalization rankings and style
attributes.
Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for
active investment strategies. Over $10 trillion in assets are
benchmarked against Russell’s U.S. indexes. Russell indexes are
part of FTSE Russell, a leading global index provider.
For more information on the Russell 2000® index and the Russell
indexes reconstitution, go to the “Russell Reconstitution” section
on the FTSE Russell website.
About AppHarvest
AppHarvest is an applied technology company in Appalachia
building some of the world’s largest high-tech indoor farms that
grow non-GMO, chemical pesticide-free produce using up to 90% less
water than open-field agriculture and only recycled rainwater while
producing yields up to 30 times that of traditional agriculture on
the same amount of land with zero agricultural runoff. The company
combines conventional agricultural techniques with cutting-edge
technology including artificial intelligence and robotics to
improve access for all to nutritious food, farm more sustainably,
build a more reliable domestic food supply, and increase investment
in Appalachia. The company’s 60-acre Morehead, Ky. facility is
among the largest indoor farms in the world. For more information,
visit www.appharvest.com.
About FTSE Russell
FTSE Russell is a global index leader that provides innovative
benchmarking, analytics and data solutions for investors worldwide.
FTSE Russell calculates thousands of indexes that measure and
benchmark markets and asset classes in more than 70 countries,
covering 98% of the investable market globally. FTSE Russell index
expertise and products are used extensively by institutional and
retail investors globally. Approximately $17.9 trillion is
currently benchmarked to FTSE Russell indexes. For over 30 years,
leading asset owners, asset managers, ETF providers and investment
banks have chosen FTSE Russell indexes to benchmark their
investment performance and create ETFs, structured products and
index-based derivatives. A core set of universal principles guides
FTSE Russell index design and management: a transparent rules-based
methodology is informed by independent committees of leading market
participants. FTSE Russell is focused on applying the highest
industry standards in index design and governance and embraces the
IOSCO Principles. FTSE Russell is wholly owned by London Stock
Exchange Group. For more information, visit
www.ftserussell.com.
Forward-Looking Statements
Certain 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 AppHarvest’s intention to
build high-tech CEA farms, the anticipated benefits of and
production at such facilities, AppHarvest’s future financial
performance, as well as AppHarvest’s growth plans and strategy,
ability to capitalize on commercial opportunities, future
operations, estimated financial position, 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 AppHarvest’s 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 the Company’s Quarterly Report on Form 10-Q filed with
the SEC on May 17, 2021 under the heading “Risk Factors,” and other
documents AppHarvest has filed, or that AppHarvest 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 AppHarvest’s 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 AppHarvest’s assessments
of any date subsequent to the date of this press release.
Accordingly, undue reliance should not be placed upon the
forward-looking statements.
MEDIA CONTACT: Travis Parman,
Travis.Parman@appharvest.comINVESTOR CONTACT:
Kaveh Bakhtiari, appharvestIR@appharvest.com
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