Bunge Chevron Ag Renewables will leverage Bunge’s expertise in oilseed processing and Chevron’s renewable fuel expertise to develop renewable fuel feedstock. (Source: Shutterstock)
Bunge and Chevron have made a final investment decision for their joint venture Bunge Chevron Ag Renewables LLC on March 4.
The venture aims to build a new oilseed processing plant adjacent to its existing processing facility located on the Gulf Coast in Destrehan, Louisiana.
Bunge Chevron Ag Renewables will leverage Bunge’s expertise in oilseed processing and Chevron’s renewable fuel expertise to develop renewable fuel feedstock. Under the joint venture agreement, Bunge will operate the processing plants in Destrehan and Cairo, Illinois. Chevron will have purchase rights for the oil to use as feedstock to manufacture low-carbon intensity transportation fuels with lower lifecycle carbon intensity.
The plant, which will be operational in 2026, features a flexible design in order to allow processing of soybeans, softseeds and winter oilseed crops, among others. The processing facility aims to not only meet the increased market demand for renewable fuel feedstock, but also support feed and protein markets through the production of meal products.
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