CoverCress scores $8M investment led by Bunge Ventures and including REG Ventures

In Missouri, Midwestern farmers are one step closer to the prospect of growing a new cover crop that will generate a cash margin while supporting regenerative agriculture. CoverCress Inc. announced it has raised another $8 million to fund its final stage of crop development and scale up for its first commercial planting for the fall of 2022.

Bunge Ventures Ltd., the venture capital arm of the leading global agribusiness and food company Bunge, led the Series B-1 financing round. REG Ventures, LLC, a subsidiary of Renewable Energy Group, Inc., a leading U.S. producer of biodiesel and renewable diesel, was another new strategic investor. 

The innovative company is developing a new winter oilseed crop under the CoverCress™ brand. It’s planted near corn harvest, and harvested immediately before soybean planting, enabling three full season crops in two seasons. Derived from field pennycress, a native winter annual, the low carbon intensity oil from the plant represents a new scalable source of material for producing fuels like renewable diesel, biodiesel and sustainable aviation fuel.