London, October 29, 2020
CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) announced today that it has completed its acquisition of a minority stake in Zasso Group AG, a global specialist in non-chemical weed and invasive plant management solutions using electrical power.
With this transaction, CNH Industrial is further strengthening the product portfolio of AGXTEND, the Company's accelerator for tech startups, and reaffirms its commitment to providing the world's farmers with easy access to the latest innovative technologies. This equity participation will further enhance synergies to facilitate the launch of disruptive new products.
Zasso's patented and innovative Electroherb solutions enable targeted, chemical-free weed control using an electrical current. This technology can also be employed in urban weed management situations. Electroherb is as effective and efficient as standard chemical herbicides, does not have to contend with growing developed plant chemical resistance and delivers social and environmental benefits.
Zasso Group, headquartered in Zug, Switzerland, was founded in 2016 and joined the AGXTEND platform in January 2019, providing exclusive distribution to its XPower electronic herbicide technology. This innovative technology was recognized with a bronze innovation award at the 2019 SIMA agricultural trade show in France.
This acquisition is further testament to AGXTEND's core philosophy of facilitating and expediting broad and open access to new technologies which help farmers improve their overall productivity, efficiency and sustainability.
CNH IndustrialN.V.
Zasso is an innovative Swiss-based company specialized in non-chemical weed management solutions using advanced power electronics. Originally developed in Brazil, the patented technology targets both the shoots and the even more critical roots of undesired plants systemically by employing advanced lightweight high-voltage methods. The solution is commercialized under the names of Electroherb and XPOWER. Its flexible, interchangeable applicators allow the system to be used in a range of surfaces and segments including agriculture, consumer market, and urban areas. In the context of dwindling number of available methods for environmentally friendly plant control, Zasso's mission is to develop the necessary control and power modules that will help make the world herbicide-free, for a better future. With offices in Zug (Switzerland), Indaiatuba (Brazil), Aachen (Germany) and Paris (France), Zasso strives to demonstrate leadership in the electric weed control technology in all the markets it serves.
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Media contacts:
Laura Overall
Corporate Communications Manager
CNH Industrial
Tel. +44
Attachment
- 20201029_PR_CNH_Industrial_Zasso (https://ml-eu.globenewswire.com/Resource/Download/9b0cf6b9-4394-4d87-8123-876cc9149207)
