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All rights reserved.Home › Latest News › Tractor & Truck Pull Set For Final Sunday At Fair! Monday, June 12 To learn more about Monarch Tractor, visit Dan Miller can be reached at him on Twitter Copyright 2021 DTN, LLC. To see the Monarch Tractor in action, watch this video: …. "MachineryLink: CNH Invests in Monarch's Electric, Autonomous Tractor Technology," … "MachineryLink: Monarch's Electric, Autonomous Tractor Technology Attracts Global Investments," … World demand for compact tractors is large - about 1.4 million to 1.5 million units, annually.įor earlier articles about Monarch go to: Compact units are typically used more than 100 days per year in the U.S. Founded in 1883, it tends 2,600 acres of vineyards in California's Livermore Valley and Monterey appellations.Ĭompact utility tractors, like those produced by Monarch, are a fast-growing segment in the U.S. Wente Vineyards is the oldest continuously operated family winery in the United States. "Autonomy is 100% something I believe will be a game changer." "We've seen firsthand the benefits of the Monarch tractor in our vineyards," Niki Wente, a fifth-generation grower, and senior vineyard and viticulture manager at Wente Vineyards, told DTN/Progressive Farmer. For example, a pair are working at one nearly 140-year-old winery. Monarch tractors are already operating under real conditions. A handful of grants have already been approved. "Farmers in California can now expect support from the state," Penmetsa said. CARB has approved subsidies for farmers who purchase Monarch tractors. Monarch has received good news from the California Air Resource Board. Farmers are interested, for example, is using the tractor to pull larger sprayers. "We're starting to incorporate (operator) feedback into the tractor," Penmetsa said. In addition to data collection, Monarch is using operator feedback to steadily improve the tractor. Beyond delivering an affordable, clean and autonomous solution, Monarch's tractors capture detailed on-farm data to enable the sustainable and efficient farms of the future." "Tractors emit 14 times more than a car and have not seen the same wave of digital innovation as we have seen in the automobile industry. "Monarch is transforming what is arguably the most important vehicle on the planet - tractors," said Hendrik Van Asbroeck, partner at Astanor Ventures. It also is ramping up pilot testing programs in Asia, Europe and South America. Monarch is focusing its early retail efforts on West Coast grape, berry and orchard producers. The Monarch Tractor system brings to producers a convergence of electrification, automation and quick data analysis. The investment will allow Monarch to increase its production facilities by three times. Monarch will use this round of financing to scale up its sales and services functions.
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CNH also was part of an earlier investment round this year. "It basically accelerates the roadmap for both companies." The technology agreement centers on tractor electrification. By that agreement, "Our technology allows CNH to deploy electric tractors with Monarch technology," said Penmetsa.
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"As we collaborate with them, and start pushing our product out, this will incorporate all the great lessons and technologies and expertise that both those companies have, as well."ĬNH's investment in Monarch's Series B Funding comes on the heels of a recent licensing agreement between Monarch and CNH. (This) should provide confidence to the farmers (when companies) such as CNH and Trimble are seeing value in what we are doing," Praveen Penmetsa, co-founder and CEO of Monarch Tractor told DTN/Progressive Farmer on Wednesday. "With support from such companies, we're well positioned right to start scaling up. The funding round also included contributions from CNH Industrial, At One Ventures and Trimble Ventures. The funding round is led by Astanor Ventures, a leading sustainable food venture firm. (DTN) - Monarch Tractor, maker of the world's first fully electric, driver-optional tractor, announced Wednesday its successful completion of a $61 million Series B funding round. (Photo courtesy of Monarch Tractors).ĬHELSEA, Ala.
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Monarch Tractor has completed a $61 million funding round with Trimble, CNH and sustainable food venture firm Astanor Ventures to expand production of its electric, driver optional tractors.