The joint venture is to involve Chevron investing $600 million into a pair of Bunge facilities that process oil from soybeans. The idea would be to double the facilities’ current production of 7,000 tons daily by the end of 2024, and use the oil as a renewable feedstock to make low-carbon diesel or jet fuel.
Columbia Gas unveils renewable natural gas fleet vehicle
The system, known as NeuFuel, differs from compressed natural gas because it can be used at a lower pressure than CNG.