Bunge and CoverCress have partnered to bring a new renewable oilseed and animal feed crop to market. The agreement establishes a long-term commercial relationship between the two companies and supports the expansion of CCI’s CoverCress technology, a new winter oilseed crop that is ideal as a lower carbon intensity feedstock to help meet the growing demand for renewable fuels.
Through breeding and gene editing, CCI has converted field pennycress, a winter annual weed, into the CoverCress crop that fits into existing corn and soybean rotations. Adding a new, marketable crop into rotation on existing land during winter can provide farmers with additional revenue while also offering the ecosystem benefits of a cover crop; the CoverCress crop provides cover, decreases nitrogen losses, and improves overall soil health.
“Bunge is pleased to expand our relationship with CCI to continue to develop next generation lower carbon feedstocks, which will also help meet the growing demand for renewable fuels. We believe rotational cover crops will play a key role in our strategy in connection with the recently announced partnership with Chevron. Together, we share a commitment to sustainability and reducing carbon in our value chains,” said Greg Heckman, Bunge CEO. Bunge Ventures, the for-profit, global investment arm of Bunge, led a Series B-1 financing round in CCI in April 2021 and recently increased its stake in CCI through a Series C-1 round.
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