Bunge and Chevron buy Argentine seeding

Chacraservicios' strong point is the production of false flax (Camelina sativa)

05.07.2023 | 16:49 (UTC -3)
Cultivating, with Bunge information

Bunge and Renewable Energy Group Inc., a subsidiary of Chevron Corporatio, acquired Argentina-based Chacraservicios S.r.l. from Italy-based Adamant Group.

According to the companies, this seed investment adds a new source of oil to Bunge and Chevron's global supply chains and will help both meet growing demand for low-carbon, renewable feedstocks. Terms of the transaction were not disclosed.

“Across all of our businesses, our decision-making process includes a focus on carbon. Investing in this new oilseed is another step towards our goal of expanding lower carbon intensity raw materials to help meet the growing demand for renewable fuels,” said Fernando Candia, Vice President of Carbon Solutions at Bunge.

Founded in 2003, Chacraservicios was purchased by the Adamant Group, which invested in the development of the company's first phase. Chacraservicios is focused on the cultivation of faux flax (camelina sativa), a cover crop family Brassicaceae with high oil content.

“Agricultural innovation is driving the development of renewable fuels around the world, and opportunities like this are helping Chevron expand our portfolio of affordable, reliable, low-carbon fuels,” said Natalie Merrill, senior vice president of business development of Chevron Renewable Energy Group.

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