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The resulting company is named AppHarvest, Inc. AppHarvest has qualified to list on the Nasdaq Global Select Market, which is the highest of three tiers based on certain financial, liquidity and corporate governance requirements that the company met. The Boards of Directors of AppHarvest and Novus Capital unanimously approved the transaction, and the transaction was also approved at a special meeting of Novus Capital shareholders on January 29, These relationships allow the Company to leverage the most recent proven technologies in an effort to sustainably increase crop yields, improve access to nutritious, non-GMO food, build a consistent and safe U. The Company operates a acre controlled environment agriculture facility in Morehead, Kentucky — one of the largest high-tech greenhouses in the world — and has an active development pipeline for up to 12 large-scale indoor controlled-environment farm projects through AppHarvest has achieved several key commercial milestones since announcing the business combination on September 29, January 19, Announced first-ever harvest of Beefsteak tomatoes from its acre Executive President Of Modern Lighting Industries Inc, Kentucky, flagship indoor farm, and began shipping to select national grocery retailers.

The Morehead facility alone is expected to produce about 45 million pounds of tomatoes annually. October 26, Announced the start of construction on a third high-tech controlled environment agriculture facility in Central Appalachia and expansion into growing leafy greens.

Located in Berea, Kentucky, the farm, when complete, will be 15 acres. October 20, Announced the start of construction on a second high-tech controlled environment agriculture facility in Madison County, Kentucky.

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The farm, when complete, will exceed 60 acres and will double AppHarvest's existing growing Inv in Central Appalachia. We currently import nearly half of all fresh vine crops sold in the U. To create a more resilient food system, we must farm more efficiently and closer to where the food is needed. David Lee joined AppHarvest as president on Jan. He will focus on accelerating infrastructure buildout, strengthening marketing and establishing effective product development processes as AppHarvest works to build an iconic brand that disrupts traditional agriculture.

With our first harvest already underway and produce shipping to major grocery outlets, we reiterate our full-year guidance. A more detailed description of the transaction terms will be included in a current report on Form 8-K to be filed by AppHarvest, Inc. 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 financial information and data contained this press release is unaudited and does not conform to Regulation S-X. The Company believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating projected operating results and trends. In addition, they are subject to inherent limitations as they reflect the exercise of judgment by management about which expenses are excluded in determining these non-GAAP financial measures.

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 These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied source 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. 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.]