CNH Industrial invests in Stout Industrial Technology

Rhea-AI Summary

CNH Industrial has acquired a 10% minority stake in Stout Industrial Technology, a US startup specializing in AI-powered agricultural implements. This investment aims to enhance CNH's See & Act machine learning capabilities. Stout's Smart Cultivator technology can distinguish crops from weeds, enabling simultaneous cultivation and weeding without chemicals. This partnership expands CNH’s mechanical weeding product offerings and facilitates distribution through its New Holland brand. The move supports CNH's commitment to innovation and sustainable agriculture.

Positive

• Acquisition of a 10% stake in Stout Industrial Technology, enhancing AI capabilities.
• Stout's Smart Cultivator technology improves cultivation efficiency and sustainability.
• Expansion of mechanical weeding product offerings for CNH Industrial.
• Distribution through New Holland brand’s dealer network enhances market reach.

Negative

• None.

Accelerating Artificial Intelligence capabilities to sustainably advance agriculture

London, December 9, 2022

CNH Industrial has acquired a 10% minority stake in Stout Industrial Technology (Stout). The US-based startup is focused on smart implements for agriculture that are powered by Artificial Intelligence (AI).

Enhancing our See & Act machine learning capabilities

See & Act allows machines to carry out tasks based on sensor-detected data. Stout has demonstrated results in this field with their Smart Cultivator – a software-controlled implement for tractors that uses cameras, AI and proprietary vision technology to distinguish crops from weeds. Once identified, the implement simultaneously cultivates crops and removes weeds.

Ultimately this technology simplifies cultivating and weeding for our customers, letting them perform the tasks simultaneously – and without the use of chemicals. Stout’s existing platform expands our mechanical weeding product offering and will accelerate our development of further cultivation solutions. Stout machines will soon be distributed via our New Holland brand’s dealer network.

Smart implement technology is one of the many ways that CNH Industrial is Breaking New Ground for the world’s farmers.

CNH Industrial (NYSE: CNHI / MI: CNHI) is a world-class equipment and services company. Driven by its purpose of Breaking New Ground, which centers on Innovation, Sustainability and Productivity, the Company provides the strategic direction, R&D capabilities, and investments that enable the success of its global and regional Brands. Globally, Case IH and New Holland Agriculture supply 360° agriculture applications from machines to implements and the digital technologies that enhance them; and CASE and New Holland Construction Equipment deliver a full lineup of construction products that make the industry more productive. The Company’s regionally focused Brands include: STEYR, for agricultural tractors; Raven, a leader in digital agriculture, precision technology and the development of autonomous systems; Flexi-Coil, specializing in tillage and seeding systems; Miller, manufacturing application equipment; Kongskilde, providing tillage, seeding and hay & forage implements; and Eurocomach, producing a wide range of mini and midi excavators for the construction sector, including electric solutions.

Across a history spanning over two centuries, CNH Industrial has always been a pioneer in its sectors and continues to passionately innovate and drive customer efficiency and success. As a truly global company, CNH Industrial’s 37,000+ employees form part of a diverse and inclusive workplace, focused on empowering customers to grow, and build, a better world.

For more information and the latest financial and sustainability reports visit: cnhindustrial.com

For news from CNH Industrial and its Brands visit: media.cnhindustrial.com

Media contacts:

Rebecca Fabian	Anna Angelini
North America	United Kingdom
Tel. +1 312 515 2249	Tel. +44 (0)7725 826 007

mediarelations@cnhind.com

 

Attachments

• 20221209_PR_CNH_Industrial_Stout
• 20221209_CS_CNH_Industrial_Stout
• Stout_CNH_Industrial

FAQ

What stake did CNH Industrial acquire in Stout Industrial Technology?

CNH Industrial has acquired a 10% minority stake in Stout Industrial Technology.

What technology is Stout Industrial Technology known for?

Stout is known for its AI-powered agricultural implements, including the Smart Cultivator.

How will CNH Industrial benefit from the acquisition of Stout?

The acquisition will enhance CNH's machine learning capabilities and expand its mechanical weeding product offerings.

Which brand will distribute Stout's machines?

Stout's machines will be distributed via CNH Industrial's New Holland brand dealer network.

When was the acquisition of Stout by CNH Industrial announced?

The acquisition was announced on December 9, 2022.