Bunge and Chevron have bought an Argentine biodiesel seed producer

Bungee Giants Chevron Renewable Energy Groupa subsidiary of Chevron Corporation, was purchased distinctive services, Argentine company dedicated to Produced by Camelina sativa The seeds are high in vegetable oil content, It is very useful for biofuel production.

According to the companies, the Argentine agricultural company will contribute to the global supply chains of Bunge and Chevron, With the addition of a new source to meet the growing demand for low-carbon fuels. In this way, multinational companies are expanding their presence in the renewable energy sector.

“In a joint and consulting project with the American University of Montana, the varieties that the company currently produces in our country have been selected and developed. Camelina cultivation goal Oil production whose consumption has grown worldwide due to its use in the development of biofuels and its excellent properties for human or animal nutrition.” Details of the Argentine company are on its page web.

according to US Department of Energyhe Renewable diesel emits 4.2% less CO2 than biodiesel and regular diesel. In addition, it is chemically equivalent to petroleum gas oil and nearly identical in its performance characteristics. This fuel can be used in conventional diesel engines, as an alternative to petroleum diesel.

These characteristics make them attractive to companies looking to reduce pollution levels in their supply chain. However, renewable diesel production is dependent on Increased supply of oilseeds from crops such as Camelina sativa and soybeans.

Although the financial details of the deal were not disclosed, Fernando Candia “Throughout 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 low carbon stocks to help meet the growing demand for renewable fuels.”

In the past two years, Bungee – The world’s largest oilseed crusher, which generated revenue 67.2 billion US dollars in 2022- Partnership with Chevron to grind oilseeds to produce renewable diesel, And with the seed manufacturer Cortival Adaptation of crops to biofuel feedstocks.

In addition, a month ago it created a global agribusiness giant by acquiring Viterra, a Swiss company from Glencore for a total of US$8.2 billion. Bunge, in turn, owns a stake in Argentina in Terminal 6 in Puerto San Martín, the country’s largest grain port. According to the latest available data from the Rosario Stock Exchange for the year 2021, It ranked as the fourth largest exporter of grains and by-products in Argentina, with 12.7 million tons.

Founded in 2003, Chacraservicios is, since 2019, part of the leading Italian company in bioenergy, Adamant Group. It has its own camelina oil extraction plant in pigBuenos Aires Province, as well as a seed processing and storage facility in Buenos Aires City manuscripts.

Agricultural innovation is driving the development of renewable fuels worldwide Opportunities like these help Chevron expand our portfolio of affordable, reliable, low-carbon fuels. In collaboration with Bunge, Chevron’s Renewable Energy Group looks forward to working with the Chacraservicios team on oil and meal processing innovations.” Natalie Merrill Senior Vice President, Business Development, Chevron Renewable Energy Group.