Corteva, Bunge, and Chevron U.S.A., a subsidiary of Chevron, declared a commercial partnership to introduce proprietary winter canola hybrids that produce plant-based oil with a lower carbon profile.
The collaboration’s goal is to expand the supply of vegetable oil feedstocks mainly for the growing domestic renewable fuels market.
The partners plan to create a new revenue opportunity for farmers with a sustainable crop rotation by introducing the winter canola crop into the southern United States.
The proprietary winter canola hybrids from Corteva can be used in a double crop system, following soybeans or cotton. “We’re pleased to work with Bunge and Chevron to bring a new option in the southern U.S. that will deliver solutions for farmers 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 Magro, CEO, Corteva Agriscience.
The joint venture between Bunge and Chevron, Bunge Chevron Ag Renewables, intends to enter into agreements with farmers to acquire the harvested winter canola crop and use the oil to make renewable fuel. Winter canola is a cover crop that can improve soil health by retaining more nutrients, water, and carbon in the soil, in addition to offering farmers a new source of revenue. For the 2022–2023 growing season, a pilot program will be run to improve optimal management techniques.
“Rotational cover crops play a key role in our strategy to continue to develop next generation lower carbon feedstocks. As a leader in oilseed processing, we are pleased to work together 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 paths to support the decarbonization of the industry,” said Greg Heckman, Bunge CEO.
The businesses intend to keep looking for ways to increase farming alternatives responsibly and make renewable fuels with lower carbon emissions.
“Chevron is committed to advancing a lower-carbon energy future, and we recognize renewable fuels like biodiesel and renewable diesel are a solution to do that,” said Kevin Lucke, President of Chevron Renewable Energy Group. “Feedstock innovation is a critical element of the growth of the renewable fuels industry, and innovative solutions like double-crop winter canola not only benefit the lower-carbon future, but also benefit farmers, consumers and the environment.”