VZ Verizon Communications Inc.

Verizon Business, Monarch Tractor drive sustainable farming practices through network connectivity

Verizon Business, Monarch Tractor drive sustainable farming practices through network connectivity

What you need to know:

  • Verizon Business and Monarch Tractor have joined together to support more sustainable farming practices through the use of Verizon’s network connectivity.
  • Monarch’s autonomous tractors stay connected even in remote agricultural areas, leveraging the power of Verizon’s award-winning wireless networks.
  • Monarch Tractor’s Monarch MK-V platform, integrated with Verizon’s technology, enables autonomous operations, near real-time visibility, and alerts for farmers.

NEW YORK, June 25, 2024 (GLOBE NEWSWIRE) -- Verizon Business and , the pioneering force behind the MK-V, the world’s first fully electric, autonomous, smart tractor, announce a strategic partnership to support more sustainable farming practices with the use of autonomous tractors all connected via Verizon’s network.

By harnessing Verizon's technology, Monarch Tractor enables its autonomous tractors to be connected even in remote agricultural landscapes. Unlike traditional broadband solutions, Verizon provides game-changing technology that connects homes and businesses seamlessly. This connectivity is ideal for remote locations and well suited for the vineyards and farmlands served by Monarch Tractor.

“Monarch Tractor is an example of what happens when an innovative customer leverages our class network and shows the power and versatility of our wireless network,” said Aparna Khurjekar, Chief Revenue Officer, Verizon Business. “By providing connectivity to their autonomous tractors, we are enabling Monarch Tractor’s mission to redefine an industry, bringing greater data-driven decision-making to the agricultural sector.”

The Verizon Business and Monarch Tractor Partnership

Innovation is at the heart of the partnership between Verizon Business and Monarch Tractor, which is investigating the deployment of additional Verizon Business solutions tailored to the agricultural sector. These include capabilities such as the wireless network performance tool and GPS location services.

The deal between Verizon Business and Monarch Tractor underscores the transformative potential of technology in promoting sustainable agriculture by driving innovation, connectivity, and efficiency in farming practices, paving the way for a more resilient and prosperous future for farmers and communities worldwide.

Monarch MK-V Technology

Headquartered in Livermore, California, a renowned agricultural hub, Monarch Tractor's farmer-centric approach to innovation aligns with Verizon Business's commitment to advancing technological solutions for businesses across diverse sectors, marking this as a pivotal moment in the agricultural industry. This effort is driven heavily by the Monarch MK-V platform.

The Monarch MK-V combines electrification, machine learning, and data analysis to enhance operations by driving labor productivity, increased safety, and significant cost savings. Monarch Tractor customers can harness the true power of the MK-V with the Wingspan Ag Intelligence (WingspanAI) platform, which provides automated operations planning, remote fleet management, tractor performance reports, maintenance diagnostics, and more. Harnessing Verizon’s technology in the MK-V enables the execution of autonomous operations via the WingspanAI app and deeper visibility into MK-V operations through live video feeds and near real-time alerts from virtually anywhere, at any time.

Monarch Tractor, through its work with Verizon Business, is leveraging connectivity in this real-world use case, highlighting how the Verizon network helps meet the demand for access to high-speed, reliable internet, in virtually any location or industry.

“The premise of Monarch Tractor has been centered around delivering farm machinery that drives farmer profitability and planet sustainability at scale,” said Praveen Penmetsa, CEO and Co-Founder of Monarch Tractor. “Leveraging Verizon’s connectivity solutions has been integral to making the MK-V tractor’s smart, sustainable technology accessible to customers in remote farming communities, allowing us to bring the latest in electrification and autonomy into the hands of farmers across the country.”

To learn more about Monarch Tractor and the MK-V platform, click .

To learn more about innovative business solutions from Verizon Business, click .

About Verizon

Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is one of the world’s leading providers of technology and communications services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $134.0 billion in 2023. The company offers data, video and voice services and solutions on its award-winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, security and control.

About Monarch

Founded in 2018, Monarch Tractor’s MK-V is the world’s first fully electric, driver-optional, smart tractor. Monarch Tractor is committed to elevating farming practices to enable clean, efficient, and economically viable solutions for today’s farmers and the generations of farmers to come. With cutting-edge technology, global reach, and an experienced team, Monarch is delivering meaningful change for the future of farming. For more information, please contact Sandya Kola, or visit .

VERIZON’S ONLINE MEDIA CENTER: News releases, stories, media contacts and other resources are available at . News releases are also available through an RSS feed. To subscribe, visit .

Media contacts:

Tessa Giammona

Sandya Kola



EN
25/06/2024

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Verizon Communications Inc.

Jonathan Chaplin
  • Jonathan Chaplin

1Q24 Wireless Trends

We have updated NPS and industry trends for the latest quarter of data. Customer growth has settled in a tight range of 2%+. Revenue per customer accelerated, driving an uptick in service revenue and EBITDA growth for the group. NPS trends continue to improve for the wireless industry, with Dish now leading the pack. We run through thoughts on both trends in this note.

 PRESS RELEASE

Verizon elects Caroline A. Litchfield to its Board of Directors

Verizon elects Caroline A. Litchfield to its Board of Directors NEW YORK, June 27, 2024 (GLOBE NEWSWIRE) -- Verizon Communications Inc. (NYSE, Nasdaq: VZ) today announced the election of Caroline A. Litchfield, Executive Vice President and Chief Financial Officer of Merck & Co., Inc., to the Verizon Board of Directors, effective October 1, 2024. “Caroline is an accomplished leader who brings to Verizon significant financial, strategic planning and risk management expertise acquired during her 34-year career at Merck. She has deep experience in finance, business operations, stakeholder ma...

Jonathan Chaplin
  • Jonathan Chaplin

Verizon Model Update

We have updated our Verizon model following comments at recent conferences. Our Consumer subscriber and EBITDA metrics are unchanged. We lowered consolidated EBITDA on weakness in Business and Corporate & Other (handset insurance). Consensus looks low on postpaid phone adds, high on FiOS adds, and high on FCF (big taxes this quarter; all timing). No material changes to full year. Verizon should post gradually improving results against a benign competitive environment. They are also the least exp...

 PRESS RELEASE

Introducing myHome: Home internet and entertainment made simple

Introducing myHome: Home internet and entertainment made simple Choose what you want, change when you need  Home internet with price guarantees. The best entertainment and connected home perks. All in one place. With unbeatable savings. NEW YORK, June 26, 2024 (GLOBE NEWSWIRE) -- The world of home internet and entertainment has become very complicated. Today, Verizon is launching myHome to make it easy for customers to choose, and save. With myHome, customers get the choice, flexibility and value they deserve – with savings on entertainment they love. myHome is the only one-stop-shop...

 PRESS RELEASE

myHome: internet residencial y entretenimiento simple

myHome: internet residencial y entretenimiento simple Elige lo que quieras, cambia cuando lo necesites Internet residencial con precio garantizado. El mejor entretenimiento y beneficios de un hogar conectado. Todo en un solo lugar. Con ahorros inigualables. NUEVA YORK, N.Y., June 26, 2024 (GLOBE NEWSWIRE) -- El mundo del internet residencial y entretenimiento se ha vuelto muy complicado. Hoy, Verizon lanza myHome para que los clientes puedan fácilmente elegir y ahorrar. Con myHome, los clientes obtienen las opciones, la flexibilidad y el precio que merecen, con ahorros en el entretenim...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch