Bunge, Chevron Acquire Argentina Seed Business Chacraservicios
By Colin Kellaher
Agribusiness giant Bunge and energy major Chevron on Wednesday said they have acquired Argentina seed business Chacraservicios, adding a new oil source to their supply chains as they work to meet growing demand for lower carbon renewable feedstocks.
Bunge and Chevron, which last year formed a joint venture to develop renewable-fuel feedstocks, said Chacraservicios is focused on the cultivation of Camelina sativa, a cover crop with high oil content.
The companies said they acquired Chacraservicios from Italy-based Adamant Group for an undisclosed amount, adding that Bunge plans to provide crush tolling and management services to the acquired company.
Chevron and Bunge said they expect to continue to explore opportunities to increase their participation in the development of next-generation, renewable fuels. The companies in March said they would work with Corteva to introduce winter canola hybrids that produce plant-based oil with a lower carbon profile.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
July 05, 2023 08:52 ET (12:52 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
5 Undervalued Stocks to Buy to Play a Little Defense
-
Markets Brief: AI Leaders Excel In Earnings Season So Far
-
What History Tells Us About the Fed’s Next Move
-
What’s Happening In the Markets This Week
-
Alphabet’s New Dividend: What Investors Need to Know
-
Going Into Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
Going Into Earnings, Is Eli Lilly Stock a Buy, a Sell, or Fairly Valued?
-
What’s the Difference Between the CPI and PCE Indexes?
-
After Earnings, Is Tesla Stock a Buy, a Sell, or Fairly Valued?
-
After Earnings, Is GE Aerospace Stock a Buy, a Sell, or Fairly Valued?
-
3 Good Stocks to Buy with Your Tax Refund in 2024 (Or with Any Extra Money)
-
SoFi Earnings: Revenue Growth Slows on Lower Loan Growth and Higher Credit Costs
-
Tesla: Full Self-Driving Approval In China Supports Our View for Deliveries Growth In 2024
-
Philips Earnings: Firm Reaches $1.1 Billion Settlement Agreement
-
AbbVie Earnings: Next-Generation Immunology Drugs Help Offset Humira Biosimilar Pressure
-
Exxon Earnings: Ignore Earnings Shortfall as Long-Term Growth and Improvement on Track