CNH Industrial Takes Controlling Stake in Bennamann

Rhea-AI Summary

CNH Industrial has taken a majority stake in Bennamann, a UK firm specializing in capturing and repurposing fugitive methane emissions. This strategic investment enhances CNH's alternative fuel capabilities within the agriculture sector, positioning them as leaders in sustainable energy solutions. By integrating Bennamann's technology, CNH Industrial aims to support farms in becoming self-sufficient energy hubs, capable of generating electricity and natural fertilizers, while also potentially selling excess gas. This investment aligns with CNH's commitment to reducing CO₂ emissions and advancing a carbon-negative future in farming.

Positive

• Acquisition of majority stake in Bennamann strengthens CNH's position in alternative fuels.
• Collaboration promotes energy independence for farmers through methane capture technology.
• The investment aligns with CNH's commitment to Science Based Targets initiative to reduce emissions.

Negative

• None.

NORTHAMPTON, MA / ACCESSWIRE / March 17, 2023 / Today, CNH Industrial is expanding its alternative fuel capabilities by taking a majority stake in Bennamann - a UK-based expert in solutions to capture, repurpose and store fugitive methane emissions for energy use. In conjunction with CNH Industrial equipment, Bennamann's infrastructure delivers a carbon negative system that fully supports a circular economy in farming. This move boosts our leading position and portfolio in alternative fuels for the agriculture industry.

"By consolidating our share in Bennamann, we are offering our customers a full energy production, storage and distribution service," says Derek Neilson, President Agriculture at CNH Industrial. "This solution can transform farms into mini energy hubs that can satisfy their own energy needs, produce their own natural fertilizer and sell any excess gas on the open market. It also enables them to generate their own electricity. This makes us a true alternative energy enabler, able to serve myriad applications and contribute to a carbon negative future."

Reducing emissions such as methane and CO₂ from biowaste and operations is one of agriculture's greatest environmental issues. To help farmers meet this challenge, CNH Industrial has been pioneering sustainable alternative power solutions in agriculture for over two decades, including the world's first tractor running on compressed natural gas - the New Holland T6.180 Methane Power. Alternative fuels and electrification can enhance a farmer's operational flexibility, efficiency, and even profitability, while dramatically offsetting their carbon footprint.

Our relationship with Bennamann began in 2019 when we jointly developed a liquefied natural gas fuel tank for our tractor prototype. In 2021, our Ventures investment arm acquired a minority stake in the business. On a pilot farm in the UK, our shared technologies are capturing fugitive emissions from farm biowaste - specifically livestock manure slurry - which are then purified into biomethane that is subsequently either compressed or liquefied. Both can be used as vehicle fuel, to generate electricity, and even supply household or farm power, while the byproducts of the conversion process can be used as a natural fertilizer. In total, the system provides energy independence for the farm, reduces input costs, and potentially generates additional revenue streams. This work has also led to the introduction of the world's first liquefied fugitive methane tractor prototype, the New Holland T7 Methane Power LNG, which is operationally carbon negative when fueled by Bennamann's system.

This latest strategic investment furthers our commitment to the Science Based Targets initiative by reducing CO₂ emissions in agriculture. Our research has found that a 120-cow farm operating our shared methane capture technology can reduce the CO₂ equivalent of 100 western European households - about 780 tons annually.

Together, we have progressed beyond the prototype phase and will install the CNH Industrial-Bennamann solution on multiple farms over the next year. This will start with compressed fugitive methane solutions, moving to liquefied in the future.

Why Liquefied Fugitive Methane?

Due to its high energy density, liquefied methane (a natural gas) is much easier to store and efficiently distribute than renewable energy sources such as Hydrogen and compressed natural gas. This makes liquefied methane a direct and suitable replacement for fossil fuels in high power applications, even in the most remote locations such as construction sites.

Our strategic and sustainable solutions see CNH Industrial continue Breaking New Ground in energy independence to keep our customers competitive while facilitating climate-friendly practices in farming.

Click here to view the full Press Release.

Caption: New Holland T7 Methane Power LNG Tractor with Bennamann system at pilot farm in the UK

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/744461/CNH-Industrial-Takes-Controlling-Stake-in-Bennamann

FAQ

What is CNH Industrial's recent investment in Bennamann about?

CNH Industrial has taken a majority stake in Bennamann to enhance its alternative fuel capabilities in agriculture.

How does the Bennamann technology benefit farmers?

It allows farmers to capture and repurpose methane emissions, reducing costs and enabling energy independence.

What are the environmental benefits of CNH's investment in Bennamann?

The investment aims to reduce CO₂ emissions and supports the transition to a carbon-negative future.

When did CNH Industrial first partner with Bennamann?

CNH Industrial began its relationship with Bennamann in 2019.

What technology has been developed between CNH and Bennamann?

They developed a liquefied natural gas fuel tank for a tractor prototype.