Archer-Daniels-Midland Co. (ADM) and Syngenta AG entered into a partnership to jointly research and introduce enhanced varieties of oilseed crops. This collaboration aims to meet the surging demand for low-carbon biofuels, which are increasingly powering various modes of transportation, including trucks, buses, and airplanes. The quest for ingredients to produce eco-friendly liquid fuels has intensified, with major energy companies, including Chevron Corp., actively seeking biofuel components to capitalize on government incentives promoting cleaner energy sources. This competitive environment has sparked a race to develop oilseeds that are both more environmentally friendly and higher-yielding, encompassing familiar crops like soybeans and canola, as well as lesser-known varieties like camelina.
According to projections from the International Energy Agency (IEA), global demand for biofuels is expected to grow by 22% from 2022 to 2027. This partnership between ADM and Syngenta reflects the industry’s response to the growing need for sustainable and low-carbon energy solutions.
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