Bunge and CoverCress Inc. announce unique commercial partnership

April 28, 2022 |

In Missouri, Bunge and CoverCress Inc. announced a unique commercial partnership to bring a new renewable oilseed and animal feed crop to market. The agreement establishes a long-term commercial relationship between the two companies and supports the expansion of CCI’s CoverCress™ technology, a new winter oilseed crop that is ideal as a lower carbon intensity feedstock to help meet the growing demand for renewable fuels.

Bunge Ventures, the for-profit, global investment arm of Bunge, led a Series B-1 financing round in CCI in April 2021 and recently increased its stake in CCI through a Series C-1 round. Complementing the commercial agreement between Bunge and CCI, Chevron U.S.A. Inc., a subsidiary of Chevron Corporation (NYSE: CVX), also acquired an ownership stake in CCI through the Series C-1 financing round. Bunge and Chevron have announced a joint venture that will produce feedstock to supply the rapidly growing renewable fuel industry. 

Under the commercial partnership between CCI and Bunge, CCI will supply CoverCress grain produced under contract with farmers to Bunge for processing. The strategic partnerships among Chevron, Bunge and CCI create a dedicated farm-to-fuel supply chain for the low carbon intensity oil feedstock produced from CoverCress grain. 

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Category: Fuels

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