Corteva Inc. and Bunge and Chevron USA Inc. , a subsidiary of Chev
By Corteva Inc. | March 15, 2023
- </small>” />
Corteva Inc, Bunge, and Chevron USA Inc. Inc., a subsidiary of Chevron Corp., on March 14 announced a commercial collaboration to offer winter canola hybrids that produce a low-carbon vegetable oil. The goal is to increase the availability of primarily vegetable oil feedstocks for the growing domestic renewable fuel market. The companies plan to introduce the winter canola crop in the southern United States with the goal of creating a new income opportunity for farmers through sustainable crop rotation.
Corteva’s proprietary winter canola hybrid can be used in a double crop system, following soybeans or cotton. “We are excited to be working with Bunge and Chevron to introduce a new option in the southern United States that offers farmers solutions to increase productivity and sustainability on their acres, as well as contribute to the need for renewable and less carbon-intensive fuel options,” said Chuck Magrew, CEO of Corteva Agriscience.
Bunge Chevron Ag Renewables, the joint venture between Bunge and Chevron, plans to contract with farmers to purchase the harvested winter canola crop and use the oil to produce renewable fuels. In addition to providing farmers with a new income opportunity, adding winter canola to the rotation provides a cover crop that can boost soil health by retaining more nutrients, water and carbon in the soil. A pilot program is expected to take place in the 2022-23 growing season to improve management best practices.
Rotational cover crops play a key role in our strategy to continue developing the next generation of low carbon feedstocks. As a leading oilseed processing company, we are excited to work with Corteva and Chevron to bring this crop innovation to farmers and process it into sustainable solutions for consumers. This is another step in our commitment to creating clear pathways to support decarbonization in the industry,” said Greg Heckman, CEO of Bunge.
The companies plan to continue exploring opportunities to improve agricultural options sustainably and produce low-carbon renewable fuels.
“Chevron is committed to developing a low-carbon energy future, and we recognize that renewable fuels such as biodiesel and renewable diesel are the answer to doing that,” said Kevin Locke, Chevron Group President, Renewable Energy. “Feedstock innovation is a critical component of the growth of the renewable fuel industry, and innovative solutions such as double-cropped winter canola benefit not only a low-carbon future, but also farmers, consumers and the environment.”