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New Collaboration Expands Calyxt’s Access to Geographies with 45% of Domestic Soybean Acreage & Helps Support Future Launch of High Fiber Wheat Product in Four of Top Ten Wheat Production States
Calyxt, Inc. (NASDAQ: CLXT), a plant-based technology company focused on healthy food ingredients, has entered into a collaboration with Central Valley Ag (CVA) Cooperative, a leading provider of products and services in grain, agronomy, feed and energy, to expand Calyxt’s Identity Preserved grower network for Calyxt crop varieties.
CVA will contract acres to launch new Calyxt soybean varieties and offer seed distribution, seed treatment and agronomy services to Calyxt Identity Preserved growers. In addition, Calyxt will gain access to CVA’s grain elevators and rail logistics for the shipping of Calyxt’s High Oleic Soybean grain – further strengthening Calyxt’s supply chain.
The new relationship with CVA, and existing relationships with Landus and Agtegra, expands Calyxt’s access to geographies where 45% of the 89 million acres of U.S. soybean are grown. It also helps support the future launch of Calyxt’s high fiber wheat product in four of the top ten wheat production states in the U.S., including North Dakota, South Dakota, Kansas and Minnesota.
“This collaboration expands our geographic footprint into Nebraska and Kansas where we can introduce our new soybean varieties while further leveraging the success of our Identity Preserved system and premium producer program,” said Jim Blome, chief executive officer of Calyxt. “With more than 75,000 acres already contracted, we are nearing our goal to contract 100,000 acres for 2020.
“This collaboration also expands our access to geographies with 45% of domestic soybean acreage, supporting the continued growth of our oil customer base – having recently added multiple new restaurant chains as customers, with a packaged goods manufacturer in the final stages of testing. 2020 is shaping up to be an exciting year, and we look forward to continued operational execution and long-term shareholder value creation,” concluded Blome.
“We are pleased to announce our collaboration with Calyxt,” said Nic McCarthy, CVA senior vice president of agronomy. “This mutually beneficial relationship allows our farmers an opportunity to secure offtake and grow Calyxt’s high oleic soybean, while simultaneously increasing the utilization of our grain elevator and rail infrastructure. We look forward to working with Calyxt management to create value for both their shareholders and our member-owners,” concluded McCarthy.
About Central Valley Ag
Central Valley Ag is a farmer-owned cooperative headquartered in York, NE. CVA has locations in Iowa, Kansas, and Nebraska. CVA is an innovative leader providing products and services in grain, agronomy, feed, and energy. You can find more information about Central Valley Ag by visiting www.cvacoop.com.
Calyxt (NASDAQ: CLXT), based in Roseville, Minnesota is a plant-based technology company that utilizes our patented breeding technology to make the food you love a healthier choice. The care we take extends beyond nutritional value. We partner with farmers and food companies to deliver traceable plant-based products developed to be healthier and more sustainable than their conventional counterparts. We use cutting edge plant breeding techniques to develop products that help improve diets by reducing bad fats, allergens and toxins. Today oil from our high oleic soybean plants has lower saturated fats than commodity soybean oil. We are also developing high fiber wheat designed to provide an excellent source of daily fiber when incorporated into wheat-based foods. We continuously pursue innovation to deliver good food that is good for you. For further information, please visit our website at www.calyxt.com.
Calyxt Forward-Looking Statements
This communication contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify these statements by forward-looking words such as “may,” “might,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue,” the negative of these terms and other comparable terminology. These forward-looking statements, which are subject to risks, uncertainties and assumptions about us, may include projections of our future financial performance, our anticipated growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements, including those factors discussed under the caption entitled “Risk Factors” in our Annual Report on Form 10-K, along with our other filings with the U.S. Securities and Exchange Commission. We do not assume any obligation to publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by applicable laws.
View source version on businesswire.com: https://www.businesswire.com/news/home/20191216005128/en/
Calyxt Media contact
Trina Lundblad, Director of Corporate Communications
Phone: +1 (612) 790-0514
Central Valley Ag Media contact
Mallory Shoemaker, Marketing Manager
Phone: (785) 738-0753
Investor Relations contact
Managing Director, MZ Group – MZ North America