AGCO-POWER
9.7.2024 11:01:34 CEST | Business Wire | Press release
AGCO (NYSE: AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology, and its subsidiary AGCO Power, today announced the opening of the company’s first clean energy laboratory. The lab is part of a 70-million-euro investment (approximately $77 million) in the Linnavuori plant in Nokia, and will support development and testing of innovative, sustainable battery and powertrain solutions for farm machinery.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240709849620/en/
AGCO Power's Director of Engineering Kari Aaltonen in front of a hydrogen combustion engine in the new Clean Energy Laboratory. (Photo: Business Wire)
The Linnavuori team of scientists and engineers are developing next-generation engines powered by low- or zero-carbon electricity and alternative fuels, such as hydrogen and methanol, that will help minimize global agricultural emissions.
While the number of hybrid and electric vehicles on world roadways has grown exponentially in the 21st century, adoption of alternative power for off-road/farm machinery has lagged. The capacity of existing battery technologies restricts the size of fully electric farm machinery, but the AGCO Power lab is working to change that paradigm.
“We are investing heavily in the research and development of multiple lower carbon technologies, such as the electrification of off-road machines and hybrids,” said Kelvin Bennett, AGCO’s senior vice president of engineering. “It is exciting to know those investments will start showing tangible results this summer when the first fully electric tractor, the Fendt e100 V Vario, enters production in 2024. “
In addition to the off-road machine emissions, AGCO is aggressively pursuing reductions in emissions in its own operations. Specifically, it has set objectives to reduce its Scope 1 and Scope 2 emissions 55% by 2033 and 90% by 2050.
Development of next-generation zero- and low-emission machines is a focus of the company’s sustainability ambition as it seeks to reduce its Scope 3 emissions. Key initiatives include decarbonizing its product portfolio, engaging suppliers to decrease their emissions, supporting farmers’ transition to sustainable solutions, and working with industry associations on renewable and low-carbon fuels in agricultural machinery.
In addition to the clean energy laboratory, the Linnavuori plant features new production facilities for both cylinder heads and continuously variable transmission components, expansions to the paint shop and testing facilities for remanufactured engines, and a training and visitor center. In total, the new buildings cover an expanse of 11,000 square meters (approximately 118,400 square feet), with some phases of the project opening this year and others set to be operational in 2025.
About AGCO
AGCO (NYSE: AGCO) is a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology. AGCO delivers value to farmers and OEM customers through its differentiated brand portfolio including core brands like Fendt®, GSI®, Massey Ferguson®, PTx and Valtra®. AGCO's full line of equipment, smart farming solutions and services helps farmers sustainably feed our world. Founded in 1990 and headquartered in Duluth, Georgia, USA, AGCO had net sales of approximately $14.4 billion in 2023. For more information, visit www.agcocorp.com. For company news, information, and events, please follow us on X: @AGCOCorp. For financial news on X, please follow the hashtag #AGCOIR.
About AGCO Power
AGCO Power is one of the world's leading developers and manufacturers of off-road engines. It builds engines for many of the world's most famous tractor brands, such as Fendt, Valtra and Massey Ferguson at facilities in Finland, China, Brazil and Argentina. AGCO Power has been in operation for more than 80 years and is a subsidiary of AGCO Corporation.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240709849620/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
NICT Showcases Beyond 5G/6G Technologies at MWC Barcelona 202618.2.2026 09:00:00 CET | Press release
Japan's only national ICT research institute to present live demonstrations of terahertz-band wireless transmission, AI-driven communications, and advanced security technologies at Hall 6, Stand F54 National Institute of Information and Communications Technology (NICT), Japan’s leading public research organization in information and communications technology, today announced that it will exhibit at Mobile World Congress (MWC) Barcelona 2026, taking place from March 2–5, 2026, at Hall 6, Stand F54. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260216620427/en/ NICT BOOTH NICT’s presence highlights Japan’s leadership in Beyond 5G and 6G research and development activities, addressing the growing limitations of current mobile networks as data traffic and connected devices continue to increase across Europe and globally. While 5G deployment is expanding, emerging applications such as AI-driven services, real-time analytics, and
BEYOND Developments Unveils EVERMORE Masterplan on Marjan Beach in Ras Al Khaimah18.2.2026 07:00:00 CET | Press release
BEYOND Developments unveiled EVERMORE, its first fully masterplanned destination on Marjan Beach in Ras Al Khaimah, marking the opening chapter of BEYOND’s 2026 growth strategy and a bold expansion beyond Dubai. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260217969384/en/ EVERMORE by BEYOND Developments - The Essence of French Living at Marjan Beach, Ras Al Khaimah (Photo: AETOSWire) Strategically located opposite Wynn Al Marjan Island, EVERMORE is a long-term lifestyle and residential waterfront district framed by the sea and Marjan’s future botanical garden. The masterplan blends French classical elegance with contemporary architecture, integrated nature, and lifestyle-focused placemaking, creating a distinctive setting where architecture, hospitality, and public spaces harmonize with water and greenery. Mahdi Amjad, Founder and Executive Chairman of BEYOND Developments, said: “Ras Al Khaimah is witnessing a new phase o
Westlake Epoxy Expands Distribution Relationship with Brenntag to India18.2.2026 02:30:00 CET | Press release
Westlake Corporation (NYSE: WLK) today announced that Westlake Epoxy will expand its long‑standing distribution relationship with Brenntag to South and West India. The agreement builds on a successful collaboration across Europe, North and South America, and Southeast Asia, extending Westlake Epoxy’s reach into one of the world’s fastest‑growing coatings, adhesives and construction markets. Under the expanded collaboration, Brenntag will distribute Westlake Epoxy’s established portfolio of epoxy solutions for coatings, adhesives and construction applications, including the EPON™, EPIKOTE™, EPIKURE™ and EPI‑REZ™ product lines. Customers are expected to benefit from reliable local supply, technical service and application‑focused formulation support tailored to regional requirements. India’s coatings, adhesives and construction sectors continue to grow, driven by infrastructure investment, urbanization and increasing performance expectations. By combining Westlake Epoxy’s proven epoxy te
Compass Pathways Launches Proposed $150.0 Million Public Offering17.2.2026 22:06:00 CET | Press release
Compass Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to accelerating patient access to evidence-based innovation, announced today the launch of a proposed public offering of $150.0 million of American Depositary Shares (“ADSs”), each representing one ordinary share, and in lieu of ADSs, to certain institutional investors, pre-funded warrants to purchase ADSs. All securities are being offered by Compass Pathways. Compass Pathways expects to grant the underwriters a 30-day option to purchase up to an additional $22.5 million of ADSs at the public offering price, less the underwriting discounts and commissions . The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the proposed offering may be completed, or as to the actual size or terms of the proposed offering. Jefferies, TD Cowen, Cantor and Stifel are acting as joint book-runners for the proposed offering. H.C. Wainwright & Co. is also acting as lead mana
Lattice Launches Joint Cyber Resilience Reference Kit with EXOR International and TrustiPhi to Simplify Secure Device Development17.2.2026 22:00:00 CET | Press release
Lattice Semiconductor (NASDAQ: LSCC), the low power programmable leader, today announced a Cyber Resilience Reference Kit designed to help industrial and edge device manufacturers accelerate secure system design, developed in collaboration with EXOR International and TrustiPhi. Built on the Lattice MachXO3D™ secure control FPGA, EXOR International’s industrial edge platform, and TrustiPhi’s integrated security orchestration platform, the kit enables hardware‑rooted trust, secure lifecycle management, and industrial‑grade connectivity to accelerate cyber resilient system design. “Security can no longer be an afterthought, especially at the industrial edge. With this collaboration, we’re giving customers a practical, integrated way to accelerate secure system development and support emerging requirements such as the EU Cyber Resilience Act,” said Karl Wachswender, Senior Principal System Architect Industrial, Lattice Semiconductor. “Through our early access program, major industrial comp
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom