Global agricultural equipment manufacturer, CNH Industrial, has acquired a minority stake in Newquay-based Bennamann.
Bennamann develops and markets 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 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.
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.
CNH Industrial CEO, Matt Hague, added “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.”