Benzinga | Mar 26, 2021 06:08AM EDT

CNH Industrial Announced it Acquired a Minority Stake in Bennamann

CNH Industrial N.V. (NYSE:CNHI) announced today that it has completed the acquisition of a minority stake in Bennamann Ltd., a UK based, fast growing agricultural technology company in the field of clean energy. This acquisition will see CNH Industrial become Bennamann's exclusive strategic agricultural technology partner.

This partnership is further evidence of CNH Industrial's longstanding commitment to investing in productivity enhancing sustainable technologies, that bring real-world benefits to farmers. Furthermore, this acquisition strengthens the Company's commitment to clean energy, which empowers farmers to drive down agricultural emissions through innovative technologies that embrace the circular economy to deliver environmental and economic benefits for customers and the wider community.

Bennamann is actively demonstrating how an innovative new approach to energy independent, sustainable farming will facilitate the adoption across a broad spectrum of agribusinesses. This approach maximizes the use of on-site renewable energy resources in combination with animal waste, to supply all the energy needed for the farm, enabling farmers to become Energy Independent' from fossil fuels, thereby reducing operational costs. It seeks to deliver commercially viable net zero carbon energy products, both biogas and liquid biofuel, from animal waste for sale and distribution, generating additional revenue streams for farmers. It also improves the sustainability of farmland management practices through minimizing artificial inputs such as manufactured fertilizer, lowering operational costs and reducing pollutants. Furthermore, these scalable solutions are focused on reducing initial capital expenditure, rendering the system more accessible to small and medium sized agribusinesses.

This Energy Independent' approach is currently being successfully tested across a number of farms in South West England, demonstrating the viability of the closed loop energy system. Furthermore, CNH Industrial is actively collaborating with Bennamann on alternative fuels for agricultural machinery.