Global agri-tech company CNH Industrial has bought into Cornish biofuel pioneer Bennaman Ltd in a deal which will accelerate its growth.
Bennamann, based at Newquay’s Aerohub, develops and markets technology to capture and repurpose methane gas emissions from agricultural and other sectors.
It prevents this harmful greenhouse gas entering the atmosphere and processes it into liquid methane for distribution and use as an energy-rich renewable biofuel.
CNH Industrial is a global leader in the capital goods sector and manufacturer of agricultural equipment, whose brands include New Holland Agriculture, Case IH, CASE Construction Equipment and IVECO commercial vehicles.
Also a global leader in sustainability and in the commercialisation of products which can be powered by renewable fuel sources, it has acquired a minority stake in Bennamann.
This minority stake acquisition will see CNH Industrial become Bennamann’s exclusive strategic agricultural technology partner worldwide.
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Matt Hague, Bennamann’s chief executive, said; “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.
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“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. We have big plans for the future and this backing, from one of the world’s pre-eminent agriculture technology providers, is a key moment for us”.
Bennamann’s vision is built on circular economy principles. In the case of agriculture, by capturing methane emitted from anaerobically digested manure slurry and other organic waste the company enables farmers to reduce their environmental impact and carbon footprint, comply with pollution abatement legislation, achieve energy independence through using some of the biofuel produced for on-site power and heat, as well as use the biologically enhanced digestate as an alternative to chemical fertilisers.
Biofuel production not used on the farm is sold by Bennamann into various biogas markets, including for vehicle and off-road machinery use as well as heat provision, and the resulting profits are shared with the farmer. This pioneering business model makes farming more sustainable in environmental and economic terms.
Chris Mann, Bennamann’s co-founder and chairman, said: ”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 海角视频”.