CNH INDUSTRIAL ACQUIRES A MINORITY STAKE IN ZASSO GROUP AG
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.