Terviva Secures Chevron Investment to Scale Pongamia Biofuel Production

Terviva, Inc., an agricultural innovation company focused on cultivating pongamia for food, feed, and fuel, announced a significant investment from Chevron Renewable Energy Group on October 15, 2024. This collaboration aims to enhance Terviva's pongamia-growing operations and expand the availability of this crop as a feedstock for renewable fuel production. The partnership underscores Terviva's strategic growth potential and highlights pongamia's role as a sustainable, lower-carbon resource for biofuels.

Over the past 15 years, Terviva has developed elite pongamia cultivars through extensive research trials conducted on nearly 2,000 acres across the U.S. and Australia. These pongamia trees yield three or more metric tons of beans per acre, characterized by their high oil content. Once harvested, the beans are processed into oil that serves as a raw material for the biofuels sector. This high yield, combined with low input requirements, allows for the production of biofuels that generate fewer greenhouse gas emissions compared to conventional fossil fuels.

According to Naveen Sikka, Terviva’s founder and CEO, “Crude pongamia oil can be converted into biodiesel, renewable diesel, or sustainable aviation fuel (SAF). Partnering with Chevron Renewable Energy Group will enhance the availability of feedstocks for these fuels while supporting our mission to revitalize agricultural land and communities. This collaboration benefits all stakeholders, from farmers growing pongamia to fleets seeking lower-carbon fuel alternatives.” Sikka emphasizes that together, Terviva and Chevron are creating economic opportunities while promoting environmental stewardship.

Pongamia is a regenerative tree crop that offers numerous environmental benefits. Its resilience enables it to thrive in areas with unpredictable water access and extreme temperatures. Additionally, pongamia's nitrogen-fixing capabilities enhance soil health, reducing the need for synthetic fertilizers.

Jan Slaghekke, Vice President of Business Development and International Operations at Chevron Renewable Energy Group, stated, “Increasing the availability of lower-carbon feedstocks for renewable fuel production is essential for the continued growth of the biofuels industry. We are excited about Terviva's efforts to scale pongamia production and look forward to our partnership in advancing its commercialization.”

This investment represents a pivotal step in advancing the biofuels industry while reinforcing the commitment to sustainable agricultural practices.

Terviva is an agricultural innovation company that collaborates with farmers to cultivate pongamia, a regenerative tree crop known for carbon storage and improving soil health while aiding reforestation efforts. By fostering an equitable and transparent supply chain, Terviva converts pongamia beans into sustainable food ingredients and bioenergy, contributing to the revitalization of lands and communities globally.