Bayer boosts CoverCress shareholding to 65%

In Germany, Bayer, Bunge and Chevron U.S.A. Inc. have signed a shareholders’ agreement in connection with Bayer’s acquisition of a 65 percent majority ownership of the winter oilseed producer CoverCress, Inc. The remaining 35 percent of CCI will continue ownership under Bunge and Chevron. 

Oil extracted from CoverCress™ grain is designed to achieve a lower carbon intensity score and can be made into renewable diesel with Bunge’s expertise in oilseed processing and Chevron’s proficiency in fuels manufacturing. This farm-to-fuel supply chain represented by CCI, Bayer, Bunge and Chevron aims to give corn and soybean growers another revenue outlet by providing the world with a desirable fuel product and high-protein meal for animal feed.