ST. LOUIS, MISSOURI, US — Bunge Ltd. and Chevron’s Renewable Energy Group Inc., a subsidiary of Chevron Corp., have acquired Argentinian seed company Chacraservicios Srl. from Italian energy company Adamant Group. 

The investment in novel seeds adds a new oil source to it and Chevron’s global supply chains and helps both companies “meet the growing demand for lower carbon renewable feedstocks.” Financial terms of the transaction were not disclosed.

According to Bunge, Chacraservicios was founded in 2003 as a company before Adamant Group bought it and invested through its first-stage development. Chacraservicios focuses on the cultivation of Camelina Sativa, a cover crop with high oil content, benefiting farmers, consumers and the environment. Bunge said it plans to offer the company crush tolling and management services.

“Across our business, our decision-making process includes a focus on carbon,” said Fernando Candia, vice president of carbon solutions at Bunge. “Investing in this new oilseed crop is another step toward our goal of expanding lower carbon intensity feedstocks to help meet the growing demand for renewable fuels. As a leader in oilseed processing, we are pleased to bring innovative crop solutions to farmers and process it into sustainable solutions for consumers.”

Bunge also said both companies expect to continue exploring opportunities to increase their participation in the development of next generation, renewable fuels and a lower carbon energy future.