Bunge Chevron Ag Renewables breaks ground on Louisiana oilseed processing plant
March 7, 2024
BY Erin Voegele
Bunge Chevron Ag Renewables LLC, a joint venture of Bunge and Chevron, on March 4 celebrated the groundbreaking of a new oilseed processing facility in Louisiana. The plant is expected to be operational in 2026.
The new facility, located on the Gulf Coast near New Orleans, will feature a flexible design that is intended to allow it to process soybeans as well as softseeds, including novel winter oilseed crops, such as winter canola and CoverCress.
Once operational, the new plant will help Bunge Chevron Ag Renewables better meet increased market demand for renewable fuel feedstocks. The plant is also expected to support the growing feed and protein markets through the production of meal products.
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“This new facility is another step in our long-term strategy to improve our capabilities at scale for the renewable fuels market and to reduce the carbon intensity of our own and our customers' value chains,” said Luciano Salvatierra, Bunge’s senior vice-president, renewable fuels.
“Having greater ability to process softseeds, including novel winter oilseed crops, will help advance our innovation in the feedstock space and meet the growing demand for renewable fuels,” said Stacey Orlandi, director, manufacturing, Chevron Renewable Energy Group. “Investments like this one help support farmers and consumers while reducing the lifecycle carbon intensity for transportation fuels.”
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Bunge and Chevron in September 2021 signed a memorandum of understanding (MOU) focused on the creation of a joint venture to help meet the demand for renewable fuels and to develop lower carbon intensity (CI) feedstocks. The two companies in February 2023 signed definitive transaction agreements to create the joint venture.
Bunge Chevron Ag Renewables is focused on developing renewable fuel feedstocks leveraging Bunge’s expertise in oilseed processing and farmer relationships and Chevron’s expertise in renewable fuels production and marketing. Under the joint venture agreement, Bunge operates the joint venture’s processing plants in Destrehan and Cairo, Illinois; Chevron has purchase rights for the oil to use as feedstock to manufacture transportation fuels with lower lifecycle CI.
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