Bunge and REG acquire Argentine camelina seed company

In Missouri, Bunge and Chevron’s Renewable Energy Group Inc., acquired Chacraservicios S.r.l., based in Argentina from the Italian-based Adamant Group. This latest investment in novel seeds adds a new oil source in Bunge and Chevron’s global supply chains and will help both companies meet the growing demand for lower carbon renewable feedstocks. Terms of the transaction were not disclosed.

Founded in 2003, Chacraservicios was bought by Adamant Group, which invested through first-stage development of the company. Chacraservicios is focused on the cultivation of Camelina Sativa, a cover crop with high oil content, that benefits farmers, consumers and the environment. Bunge plans to provide Chacraservicios crush tolling and management services.