11.00 GMT Newquay, UK
26 March 2021
Bennamann are delighted to announce that CNH Industrial, a global leader in the capital goods sector, and manufacturer of agricultural equipment, whose brands include New Holland Agriculture, Case IH, CASE Construction Equipment and IVECO commercial vehicles, has acquired a minority stake in Bennamann. CNH Industrial is a global leader in sustainability, as well as in the commercialisation of products which can be powered by renewable fuel sources.
Bennamann develop and market technology to capture and repurpose fugitive methane emissions from agricultural and other sectors. The company prevents this harmful greenhouse gas from entering the atmosphere and, using highly innovative and patented technology, processes it into liquid fugitive methane for distribution and use as an energy rich renewable biofuel with a ‘better-than-zero’ carbon footprint.
Bennamann’s entire vision is built upon circular economy principles. In the case of agriculture, by capturing methane emitted from anaerobically digested manure slurry and other organic waste the company enables farmers to reduce their environmental impact and carbon footprint, comply with pollution abatement legislation, achieve energy independence through using some of the biofuel produced for on-site power and heat, as well as use the biologically enhanced digestate as an alternative to chemical fertilisers. Biofuel production not used on the farm is sold by Bennamann into various biogas markets, including for vehicle and off-road machinery use as well as heat provision, and the resulting profits are shared with the farmer.
This pioneering and groundbreaking business model makes farming more sustainable in both environmental and economic terms. Chris Mann, Bennamann’s co-founder and Chairman commented; ”We see our commercially viable technology not only as a way to help farm businesses become economically stronger and greener, but also a way to provide funding and technology to support regenerative and restorative farming practices which further helps futureproof the vital role of agriculture in the UK”.
This minority stake acquisition will see CNH Industrial become Bennamann’s exclusive strategic agricultural technology partner worldwide.
Commenting on the deal, recently appointed Bennamann CEO, Matt Hague said; “We here at Bennamann are really excited to be working with CNH Industrial. The synergies between our two companies in terms of our commitment to clean energy and helping farmers drive down emissions and become more sustainable are clear. CNH Industrial’s investment is going to help Bennamann accelerate growth and also brings to the company a wide range of manufacturing, supply chain and operational expertise. We have big plans for the future and this backing, from one of the world’s pre-eminent agriculture technology providers, is a key moment for us”.
CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) is a global leader in the capital goods sector with established industrial experience, a wide range of products and a worldwide presence. Each of the individual brands belonging to the Company is a major international force in its specific industrial sector: Case IH, New Holland Agriculture and Steyr for tractors and agricultural machinery; Case and New Holland Construction for earth moving equipment; Iveco for commercial vehicles; Iveco Bus and Heuliez Bus for buses and coaches; Iveco Astra for quarry and construction vehicles; Magirus for firefighting vehicles; Iveco Defence Vehicles for defence and civil protection; and FPT Industrial for engines and transmissions. More information can be found on the corporate website: www.cnhindustrial.com