Fast casual restaurant chain Chipotle Mexican Grill Inc (NASDAQ: CMG) said it is investing in Greenfield Robotics and Nitricity.
Greenfield Robotics focuses on making regenerative farming more efficient, cost-effective, and sustainable by leveraging the latest advances in AI, robotics, and sensing technologies.
Nitricity aims to tackle greenhouse gas emissions by creating fertilizer products that are better for fields, farmers, and the environment.
The investments are being made through Chipotle's $50 million Cultivate Next venture fund.
"We will help Greenfield Robotics scale their robotic offerings and explore how their robots can be deployed on farms within our supply chain," said Chief Customer and Technology Officer Curt Garner.
Nitricity's nitrogen fertilizer has 5 to 10 times less GHG emissions due to its electrified production and field application process.
"Nitricity's fertilizer offering not only has the potential to reduce the carbon footprint of the fertilizer industry, but it can be a cost-effective solution for growers in our supply chain," said Chipotle's Chief Financial and Administrative Officer Jack Hartung.
Price Action: CMG shares are trading higher by 0.19% at $2,324.72 on the last check Wednesday.