Louis Dreyfus Company and Global Clean Energy Holdings Sign Agreement to Promote the Cultivation of Camelina in South America
Buenos Aires, Argentina, July 12, 2023 - Louis Dreyfus Company (LDC) and Global Clean Energy Holdings, Inc. have agreed to jointly promote the sustainable cultivation of Camelina sativa (camelina) in Argentina, Paraguay, and Uruguay. The strategic pairing underpins the expansion of Global Clean Energy’s camelina production activities to South America and reinforces LDC’s position as a supplier of choice for quality seeds among farmers in the region.
Camelina is used as an ultra-low carbon feedstock for renewable fuel production and as an ingredient for high protein animal feed production. New to local agriculture, this oilseed has a short production cycle that allows it to be incorporated into existing crop rotations as a cover crop, while helping to preserve soil health prior to sowing summer crops such as corn or soy.
“The addition of Global Clean Energy’s camelina varieties to LDC’s seed portfolio also represents another positive step in LDC’s global sustainability journey, as camelina oil is a feedstock for the production of renewable biofuels, thus contributing to the global energy transition,” said Pablo Autilio, LDC’s global Head of Seeds.
Under the agreement, LDC and Global Clean Energy will work exclusively on the origination and processing of camelina in Argentina, Paraguay, and Uruguay. Building on its existing production in North America and Europe, Global Clean Energy will manage seed breeding operations to improve camelina varieties in the region, supply camelina seed, and provide agronomic support to farmers participating in the program. LDC will manage origination activities and contracts with farmers ensuring that all production has the corresponding sustainability certification, as well as post-harvest logistics and processing into meal and oil. Camelina meal will be used in the production of animal feed while camelina oil will be processed into renewable fuels, which will ultimately reduce carbon emissions in transportation and aviation sectors in the region and around the world.
LDC and Global Clean Energy representatives have already held six technical conferences with more than 200 agricultural producers in Argentina, sharing key crop characteristics and insights on crop management, as well as a commercial offer for the 2023 harvest.
“After years of development, we are excited to expand the commercial growth of our camelina business into South America through this agreement with LDC,” Global Clean Energy CEO Richard Palmer said. “Camelina represents a unique opportunity for the region to benefit from a crop that generates additional income on idle farmland during the winter, without displacing the main summer crops. Together with LDC, we expect this crop to generate additional revenues for the entire agricultural community in this region, while furthering clean fuel production and improving soil health in the process.”
Global Clean Energy has been working on camelina breeding in North America and Europe for over 15 years. After testing 20 proprietary camelina varieties in Argentina over the last two years, Global Clean Energy has identified the best varieties to market in the region.
About Louis Dreyfus Company
Louis Dreyfus Company is a leading merchant and processor of agricultural goods, founded in 1851. We leverage our global reach and extensive asset network to serve our customers and consumers around the world, delivering the right products to the right location, at the right time – safely, reliably and responsibly. Our activities span the entire value chain, from farm to fork, across a broad range of business lines (platforms): Carbon Solutions, Coffee, Cotton, Food & Feed Solutions, Freight, Global Markets, Grains & Oilseeds, Juice, Rice, and Sugar. We help feed and clothe some 500 million people every year by originating, processing and transporting approximately 80 million tons of products. Structured as a matrix organization of six geographical regions and ten platforms, Louis Dreyfus Company is active in over 100 countries and employs approximately 17,000 people globally. For more information, visit www.ldc.com and follow us on Twitter, LinkedIn and WeChat (ID: we_are_ldc).
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About Global Clean Energy
Global Clean Energy Holdings, Inc. is a vertically integrated renewable fuels business that is focused on reducing carbon emissions sustainably through their proprietary nonfood camelina varieties – delivering among the lowest carbon intensity renewable fuel in the marketplace. Their strategy since its inception has been to control the full integration of the renewable fuels supply chain from science to seed and farm to fuel. Global Clean Energy aims to operate the development, production, processing, and transportation of feedstocks as well as the refining and production of renewable fuels. Global Clean Energy will process their proprietary nonfood camelina feedstock in their Bakersfield, California renewable fuels refinery, yielding a renewable diesel that is chemically identical to petroleum diesel, but with 80+ percent lower carbon emissions. The Company’s proprietary camelina varieties are the only nonfood renewable feedstock on the market certified for the U.S. EPA’s Renewable Fuel Standard and California’s Low Carbon Fuel Standard. More information can be found at www.gceholdings.com.
Media Contact: Amanda.DeRosier@gceholdings.com
Forward Looking Statements
All statements in this communication other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including any statements of the plans, strategies and objectives for future operations, profitability, strategic value creation, risk profile and investment strategies, and any statements regarding future economic conditions or performance, and the expected financial and operational results of Global Clean Energy Holdings, Inc. Although we believe the expectations reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in our forward-looking statements include, but are not limited to, the following: our ability to complete and effectively produce renewable diesel at our renewable fuels refinery, and once operational, producing fuel at the expected rate and cost as anticipated; ensuring adequate supply of camelina or other comparable feedstock; successfully supplying our refinery with camelina or similar feedstock and converting it into renewable fuels; being able to store and transport feedstock and downstream renewable fuels; obtaining and maintaining regulatory approvals and certifications for our renewable fuels to ensure compliance in local and global markets; continued demand and growth for renewable fuels; the ability to produce renewable diesel that is completely fungible with petroleum-based diesel; expanding the capabilities of our refinery site to maximize profitability; our ability to comply with the terms of our credit facilities and production agreements; successfully integrating acquired companies and expanding operations overseas in parallel with our US-based operations; managing all aspects of a complex vertically integrated supply and production strategy, and overcoming circumstances that often are out of our control such as weather, transportation, production delays and ultimately, ultimate demand for our product; as well as other additional risks and factors that could cause actual results to differ materially from our forward-looking statements set forth in our reports filed with the Securities and Exchange Commission. Any forward-looking statements are made as of the date hereof. We do not intend, and undertake no obligation, to update any forward-looking statement.
Important factors that could cause actual results, developments and business decisions to differ materially from forward-looking statements are described in the sections titled “Risk Factors” in our filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K.
Released July 12, 2023