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Closing Bell

Manifest Space: Space Enabled Farming with Deere CTO 5/18/23

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 18 May 2023

⏱️ 25 minutes

🧾️ Download transcript

Summary

Agriculture equipment-maker Deere is betting big on space. The company is seeking to expand into satellite services, with CTO Jahmy Hindman leading the charge. Morgan sits down with Hindman to discuss why the company finding ways to offer more value and services to a global customer base through space. For more Manifest Space, listen and follow here: https://link.chtbl.com/manifestspace Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0

What comes to mind when you think of John Deere? The green and yellow logo,

0:04.4

combines dotting the American countryside? How about space? It's something current

0:09.9

board member and former Boeing defense CEO Leanne Corret discussed on this

0:13.9

podcast in April.

0:15.9

Dear is I think one of the best technology secrets in the world out there. They are I

0:22.4

had the honor of watching you know some of the

0:25.6

automated planting and the sea and spray technology. It just it's just absolutely mind-boggling at times what the ability to do is, but you're not going to do that to your point without the access to space.

0:42.0

Deer is making a big bet on precision agriculture, which uses

0:45.0

sensors, software, and data analytics to improve crop yields.

0:48.0

It's already selling self-driving tractors and other autonomous farming equipment,

0:53.0

and now the machinery manufacturer is looking to partner with satellite operators

0:57.0

to boost connectivity.

0:59.0

The company began eliciting bids for a SATCOM's contract last fall, Deal Value

1:04.2

undisclosed, and Jamie Hindman, Deere's Chief Technology Officer, is the person overseeing

1:09.7

the process.

1:10.7

We're pretty bullish, actually, on the opportunity that the commercialization of all things space is bringing

1:16.7

to agriculture at the moment.

1:17.7

If you think of agriculture, it's largely a rural job, right?

1:22.5

It's done in rural locations where terrestrial cell

1:26.3

connectivity is not always available.

1:29.1

And when it is, it's not always sufficient

1:31.0

to do the types of things that farmers need to have done in the field.

...

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