Bayer completed the acquisition of a 65% stake in CoverCress from Bunge and Chevron.

Bayer, a pharmaceutical and biotechnology company, completed the acquisition of a 65% stake in CoverCress, a grain production company, from Bunge, an agribusiness and food company, and Chevron, an energy corporation. Financial terms were not disclosed. “Since our founding in 2013 we have actively sought – and benefited from – scientific, operational, and financial support from our academic and strategic partners. The progress we have made in converting pennycress into our novel, lower carbon intensity oilseed technology, CoverCress, would have been much slower without this critical support. Our long-standing strategic partnership with Bayer and our more recent strategic partnerships with Bunge, and Chevron have provided us with access to expertise and capital that positions CCI very well for future success," Mike DeCamp, CCI CEO and President.