Press Release

Geneva, February 25th 2021
Covantis Launches Transformational Blockchain Platform for Global Commodities Trade

In 2018, a group of leading global agribusinesses came together with a goal of employing cutting-edge digital technology to modernise global agricultural shipping transactions for the benefit of the entire industry. Today, the Covantis initiative is proud to announce the launch of its revolutionary platform.

“Two years ago, we set out on a journey to transform a system of global trade that had changed very little for the last century. It’s been an exciting process, as we advanced from identifying this crucial need, to working with industry participants across the supply chain to explore and understand the needs of the market, to building a secure and trusted digital network. Today, we’re proud to launch our industry-changing digital platform in time for the beginning of the Brazilian export season. We look forward to working with our partners to use this technology to enhance efficiencies and reduce operational risk in this first key market,” said Petya Sechanova, CEO of Covantis.

Incorporated as an independent legal entity in Geneva, Switzerland, in March 2020, Covantis partnered with market-leading technology providers like ConsenSys, its leading technical supplier, as well as Microsoft Azure Cloud and Cognizant, leveraging their solutions and services to deliver an innovative, best-in-class technology platform to transform global trade operations for agricultural commodities.

The platform’s initial scope covers the shipment and execution of bulk commodities such as corn and soybeans from Brazil to any worldwide destination, optimising export trade execution processes by connecting shippers, traders and charterers.

Initial users of the platform include Covantis’ founding members - ADM, Bunge, Cargill, COFCO, Louis Dreyfus Company and Viterra - with hundreds of users from over 30 entities around the world who have been trained and onboarded virtually. In the coming months, Covantis will work to enlarge its network of participating companies and onboard the majority of industry players active in these flows. 

The company will continue to invest in building new capabilities that increase value for its clients from origin to destination, thus creating a global network for efficient execution of bulk commodities trade operations.

Interested parties can learn more about the initiative by visiting www.covantis.io

Media contact

Covantis SA

Sorin Albeanu

info@covantis.io

About Covantis

Covantis is a technology company focused on digitizing international trade. We’re committed to making global trade simple, secure, and efficient, and we aim to bring efficiencies and cost savings to companies throughout the international supply chain.

Learn more about the initiative

Note on Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of U.S. federal securities laws, including statements regarding the anticipated development, success and benefits of the proposed digital platform. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will" and "expect" and similar statements. Forward-looking statements are not historical facts and involve inherent risks and uncertainties. Several factors could cause actual results to differ materially from those contained in any forward-looking statement, including in this case the risk that the platform may not be successful or fully achieve the objectives of the participants. Further information regarding risks associated with forward-looking statements is included in Bunge SA's and Archer Daniels Midland Company's filings with the U.S. Securities and Exchange Commission. All statements herein are made as of the date of this press release, and the participants undertake no obligation to publicly update or revise any forward-looking statement, whether because of new information, future events or otherwise, except as required under applicable law.

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