Bunge and Chevron&rsquo;s Renewable Energy Group Inc., a subsidiary of Chevron Corp., 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&rsquo;s global supply chains and will help both companies meet the growing demand for lower carbon renewable feedstocks. Terms of transaction were not disclosed.
&ldquo;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,&rdquo; said Fernando Candia, Bunge&rsquo;s vice-president carbon solutions. &ldquo;As a leader in oilseed processing, we are pleased to bring innovative crop solutions to farmers and process it into sustainable solutions for consumers.&rdquo;
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.
&ldquo;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,&rdquo; said Natalie Merrill, senior vice president for business development with Chevron Renewable Energy Group. &ldquo;Together with Bunge, Chevron&rsquo;s Renewable Energy Group looks forward to working with the Chacraservicios team on meal and oil processing innovations.&rdquo;
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.
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Camelina is a cover crop with high oil content. 

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Bunge and Chevron's Renewable Energy Group Inc., a subsidiary of Chevron Corp., have acquired Argentina-based Chacraservicios S.r.l. Chacraservicios is focused on the cultivation of camelina sativa, which can be used to produce biofuels.

Bunge, Chevron acquire Argentina seed business Chacraservicios

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