Corteva, Bunge, Chevron partner in renewable fuel | – #Corteva #Bunge #Chevron #partner #renewable #fuel
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March 14 (Reuters) – Chevron Corp ( CVX.N ) is partnering with agribusiness firms Corteva Inc ( CTVA.N ) and Bunge Ltd ( BG.N ) to produce renewable fuel from rapeseed, the companies announced on Tuesday.
Companies as part of cooperation USAwill introduce winter canola hybrids in the south of
Bunge Chevron Ag Renewables, a joint venture between Bunge and Chevron, will buy harvested winter canola from farmers and use the resulting oil to create renewable fuel.
governed by California’s Low Carbon Fuel Standard (LCFS). USA government programs reward fuel producers for decarbonizing by producing renewable fuels, and producers have responded by increasing production of such “green” fuels.
The transportation sector accounts for nearly a quarter of United States greenhouse gases. USA The Department of Energy projects that renewable diesel will account for about 7% of the total diesel pool by 2030; currently it is only 5%.
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By introducing the winter canola crop, the companies said they hope to provide a sustainable crop rotation option and create a new income stream for farmers.
Reporting by Arshreet Singh; Edited by Pooja Desai
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2023-03-14 19:59:29
Source – reuters
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