Published by Todd Bush on July 5, 2023
ST. LOUIS & SAN RAMON, Calif.--(BUSINESS WIRE)--Bunge (NYSE: BG) and Chevron’s Renewable Energy Group Inc., a subsidiary of Chevron Corporation (NYSE: CVX), acquired Chacraservicios S.r.l., based in Argentina, from the Italian-based Adamant Group. This latest investment in novel seeds adds a new oil source in Bunge and Chevron’s global supply chains and will help both companies meet the growing demand for lower carbon renewable feedstocks. Terms of transaction were not disclosed.
>> Additional Reading: MOECO and Chevron to Explore Advanced Closed Loop Geothermal Pilot in Hokkaido, Japan
“Across our business, our decision-making process includes a focus on carbon. Investing in this new oilseed crop is another step towards our goal of expanding lower carbon intensity feedstocks to help meet the growing demand for renewable fuels,” said Fernando Candia, Bunge’s Vice-President Carbon Solutions. “As a leader in oilseed processing, we are pleased to bring innovative crop solutions to farmers and process it into sustainable solutions for consumers.”
Founded in 2003, Chacraservicios was bought by Adamant Group, which invested through first-stage development of the company. Chacraservicios is focused on the cultivation of Camelina Sativa, a cover crop with high oil content, that benefits farmers, consumers and the environment. Bunge plans to provide Chacraservicios crush tolling and management services.
“Agricultural innovation is powering renewable fuels development around the world, and opportunities like this are helping Chevron expand our portfolio of affordable, reliable and lower carbon fuels,” said Natalie Merrill, senior vice president for business development with Chevron Renewable Energy Group. “Together with Bunge, Chevron’s Renewable Energy Group looks forward to working with the Chacraservicios team on meal and oil processing innovations.”
The companies expect to continue to explore opportunities to increase their participation in the development of next generation, renewable fuels and advance a lower carbon energy future.
At Bunge, our purpose is to connect farmers to consumers to deliver essential food, feed and fuel to the world. With more than two centuries of experience, unmatched global scale and deeply rooted relationships, we work to put quality food on the table, increase sustainability where we operate, strengthen global food security, and help communities prosper. As the world's leader in oilseed processing and a leading producer and supplier of specialty plant-based oils and fats, we value our partnerships with farmers to improve the productivity and environmental efficiency of agriculture across our value chains and to bring quality products from where they're grown to where they're consumed. At the same time, we collaborate with our customers to create and reimagine the future of food, developing tailored and innovative solutions to meet evolving dietary needs and trends in every part of the world. Our Company is headquartered in St. Louis, Missouri, and we have more than 23,000 dedicated employees working across approximately 300 facilities located in more than 40 countries.
>> In Company Spotlight: Chevron
Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to enabling human progress. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We aim to grow our traditional oil and gas business, lower the carbon intensity of our operations and grow new lower carbon businesses in renewable fuels, hydrogen, carbon capture, offsets and other emerging technologies. More information about Chevron is available at www.chevron.com.
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside this Issue 💰 Mantel Secures $30 Million to Bring Low Cost, Energy Efficient Carbon Capture to the Heavy Industrial Sector 🔗 Ontras and H2 Energy Europe Sign MOU to Advance Hydrogen Infrastr...
Inside this Issue 🤝 Khaled bin Mohamed bin Zayed Witnesses Signing Ceremony for ADNOC and ExxonMobil Partnering in World’s Largest Low-Carbon Hydrogen Facility 💡 Oxylus Energy Raises $4.5 Millio...
Inside this Issue 🛢️ Oil and Gas Giant Bp to Partner Aberdeen's Hydrogen Plans 💰 DOE Awarding $62M to 20 Projects to Improve Performance of Clean Hydrogen Infrastructure 🌍 DP World’s Bold Steps To...
With backing from leaders in the energy industry, the company is scaling its molten borate carbon capture technology, which could cut costs by more than half. BOSTON--(BUSINESS WIRE)--Mantel Captu...
Ontras and H2 Energy Europe Sign MOU to Advance Hydrogen Infrastructure for Industrial Customers
Zurich, 5 September 2024 - H2 Energy Europe AG, a developer of large-scale green hydrogen ecosystems, and ONTRAS Gastransport GmbH (ONTRAS), a German transmission system operator (TSO), have signed...
New Underground Wells Could Store Carbon Dioxide Pollution for Microsoft and Amazon
A major project to capture and store carbon dioxide pollution for companies including Microsoft and Amazon just took a significant step forward — the Environmental Protection Agency (EPA) issued dr...
Hycamite Opens Europe’s Largest Methane-splitting Plant for Low-carbon Hydrogen Production
Today, Hycamite TCD Technologies, a leader in emissions-free methane-splitting technology, opens Europe’s largest methane-splitting plant in Kokkola, Finland. Once fully operational, the nominal ca...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.