CNH Expands High-Tech Harvesting Stake With Investment in Advanced Farm Technologies

Rhea-AI Summary

CNH Industrial makes minority investment in Advanced Farm Technologies to drive innovation in robotic harvesting of fruits, addressing labor shortage and aligning with sustainable goals.

Positive

• CNH Industrial's investment in Advanced Farm Technologies allows them to address the labor shortage in fruit harvesting, which accounts for 46% of apple production costs and 70% of strawberry production costs in the US. This investment will drive innovation in robotic harvesting, reducing labor costs and improving efficiency.

Negative

• None.

NORTHAMPTON, MA / ACCESSWIRE / October 24, 2023 / CNH Industrial recently made a minority investment in the California-based start-up Advanced Farm Technologies, which specializes in the robotic harvesting of apples, strawberries, and other fruits. The two businesses will partner to drive industry and ecosystem innovation by collaborating across R&D and commercialization.

In the United States, 46% of the production cost of apples comes from handpicking labor, 70% in the case of strawberries. These high labor costs are exacerbated by a continued downward trend in handpicking workforce availability. By investing in robotic harvesting, CNH industrial can adequately address the labor shortage and continue to align with its sustainable goals.

CNH is committed to automated, autonomous, and sustainable farming innovations that solve important and complex challenges for its customers. With this minority investment, CNH continues to add cutting-edge solutions to its portfolio and maintain its commitment to ESG.

By partnering with Advanced Farm Technologies, CNH continues to uphold its commitment to sustainable innovation

View additional multimedia and more ESG storytelling from CNH Industrial on 3blmedia.com.

Contact Info:
Spokesperson: CNH Industrial
Website: https://www.3blmedia.com/profiles/cnh-industrial
Email: info@3blmedia.com

SOURCE: CNH Industrial

View source version on accesswire.com:
https://www.accesswire.com/796110/cnh-expands-high-tech-harvesting-stake-with-investment-in-advanced-farm-technologies

FAQ

What is CNH Industrial's investment in Advanced Farm Technologies about?

CNH Industrial recently made a minority investment in Advanced Farm Technologies, a California-based start-up specializing in robotic harvesting of fruits. This investment aims to address the labor shortage in fruit harvesting and drive innovation in the industry.

What percentage of apple production costs come from handpicking labor?

46% of apple production costs in the US come from handpicking labor.

What percentage of strawberry production costs come from handpicking labor?

70% of strawberry production costs in the US come from handpicking labor.

How will CNH Industrial's investment in Advanced Farm Technologies benefit them?

CNH Industrial's investment in Advanced Farm Technologies will allow them to reduce labor costs and improve efficiency in fruit harvesting through robotic harvesting innovation.

What are CNH Industrial's sustainable goals?

CNH Industrial is committed to automated, autonomous, and sustainable farming innovations that solve important and complex challenges for its customers.