CNH Industrial Takes Minority Stake in EarthOptics

Rhea-AI Summary

CNH Industrial (NYSE:CNHI) has announced a minority investment in EarthOptics, a US-based ag tech firm, through its Ventures arm. This investment is part of EarthOptics' Series B funding round, aimed at enhancing their soil sensor technology that quantifies soil health through various data sources, including machine learning. The investment will help EarthOptics improve its technology and scale partnerships with agronomists and other service providers. CNH Industrial plans to pilot this technology through its Case IH brand in 2023, focusing on tillage automation and agronomic insights to support sustainable farming operations.

Positive

• Minority investment in EarthOptics could enhance CNHI's product offerings.
• Partnership may lead to innovations in soil health measurement and agricultural practices.

Negative

• None.

NORTHAMPTON, MA / ACCESSWIRE / January 24, 2023 / CNH Industrial (NYSE:CNHI)

CNH Industrial announces a minority investment in the US-based ag tech company EarthOptics through its Ventures arm.

EarthOptics' proprietary sensor technology precisely measures the health and structure of soil through a combination of ground-based sensors, satellites, physical soil samples, machine learning models and agronomic expertise. By providing such a wide range of soil data, this technology enables farmers to better manage their land and enhance its value. Insights can help them drive multiple improvements from increasing crop yield to reducing fertilizer application, and assessing their farm's carbon impact, to name a few key areas.

This funding - part of EarthOptics' Series B investment round - will help to further build out their sensor suite's hyper-accuracy capabilities to boost acreage growth and bring greater savings. It will also allow the company to scale cooperation with service providers (agronomists, crop consultants and trusted third party advisors) for data insights.

CNH Industrial will begin a pilot testing phase of EarthOptics' soil sensing technology through our Case IH brand in 2023. Commercial plans will be the subject of future announcements. The goal of this technology is to accelerate our work in tillage automation and provide greater agronomic insights for customers.

This is the latest demonstration of our work to continuously provide the world's farmers with solutions that add value to, and increase the sustainability of, their operations.

View original content here.

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/736608/CNH-Industrial-Takes-Minority-Stake-in-EarthOptics

FAQ

What is CNHI's recent investment announcement about?

CNHI announced a minority investment in EarthOptics, a company specializing in soil sensor technology.

How will CNHI's investment in EarthOptics benefit farmers?

The investment aims to enhance soil health measurement, potentially increasing crop yields and sustainability.

When will CNHI begin testing EarthOptics' technology?

CNHI plans to start pilot testing of EarthOptics' soil sensing technology in 2023.

What is the purpose of CNHI's partnership with EarthOptics?

The partnership focuses on advancing tillage automation and providing greater agronomic insights.

Is the investment in EarthOptics part of a funding round?

Yes, it is part of EarthOptics' Series B investment round.