The new agreements are expected to support additional production
of approximately 400 tons of Casterra's elite castor seeds in
2024 and establish long-term production infrastructure
REHOVOT, Israel, March 5,
2024 /PRNewswire/ -- Casterra Ag Ltd., an
integrated solutions company for growing castor seeds for bio-based
industries, such as biofuels, biopolymers, and a subsidiary of
Evogen Ltd. (Nasdaq: EVGN) (TASE: EVGN), is taking significant
steps to strengthen its castor production capabilities. The company
recently signed strategic agreements with existing and new seed
producers in Brazil and
Africa to increase its production
capabilities of high-yielding, high-oil castor seeds.
These agreements are expected to add approximately 400 tons in
2024 and establish long-term production infrastructure. Expanding
the number of seed producers in various geographies with whom the
company currently works is expected to lower production risks.
Casterra's high-yield castor seed varieties, developed with
Evogene's GeneRator AI tech-engine, are rigorously tested to
meet industry standards. They are distinguished by exceptional
cleanliness, successful phytosanitary test results, and an
exceptional germination rate of ~90%, exceeding industry
benchmarks.
Mr. Yoash Zohar, CEO of Casterra, emphasizes:
"These agreements strengthen our supply chain and mark a strategic
change towards diversifying our production sources. Ensuring a
reliable and sustainable supply of castor seeds is crucial in
meeting the evolving demands of our customers while contributing
positively to local economies. Casterra intends to continue to seek
additional seed producers to engage with in 2024, to support
ongoing seed production."
About Casterra Ag Ltd.:
Casterra is developing and commercializing high-yielding castor
bean seeds as a cost-competitive, sustainable, second-generation
feedstock for the growing biofuel market. It has built its castor
genetic assets based on a broad collection of over 300 castor lines
from over 40 different geographic and climatic regions. As part of
its development process, Casterra applies advanced breeding methods
utilizing Evogene's GeneRator AI tech-engine, enabling
cutting-edge plant genomics tools and agro-technique expertise to
enable efficient and sustainable industrial-scale production of the
castor bean.
For more information, please visit http://www.casterra.co
About Evogene Ltd.:
Evogene (Nasdaq: EVGN, TASE: EVGN) is a computational biology
company aiming to revolutionize the development of
life-science-based products by utilizing cutting-edge technologies
to increase the probability of success while reducing development
time and cost. Evogene established three unique tech-engines -
MicroBoost AI, ChemPass AI, and GeneRator AI –
leveraging Big Data and Artificial Intelligence and incorporating
deep multidisciplinary understanding in life sciences. Each
tech-engine is focused on the discovery and development of products
based on one of the following core components: microbes
(MicroBoost AI), small molecules (ChemPass AI), and
genetic elements (GeneRator AI).
Evogene uses its tech-engines to develop products through
subsidiaries and strategic partnerships. Evogene's subsidiaries
currently utilize the tech-engines to develop human
microbiome-based therapeutics by Biomica, ag-biologicals by
Lavie Bio, ag-chemicals by AgPlenus,
medical cannabis products by Canonic and castor varieties, for the
biofuel and other industries, by Casterra.
For more information, please visit www.evogene.com
Forward-Looking
Statements:
This press release contains "forward-looking statements"
relating to future events. These statements may be identified by
words such as "will", "may", "could", "expects", "intends",
"anticipates", "plans", "believes", "scheduled", "estimates",
"demonstrates", or words of similar meaning. For example, Evogene
and Casterra are using forward-looking statements in this press
release when they discuss Casterra's ability to increase its
seed production capabilities by 400 tons in 2024, Casterra's
ability to meet the demand for its castor seeds and Casterra's
ability to find additional seed producers to engage with in
2024. Such statements are based on current expectations,
estimates, projections, and assumptions, describe opinions about
future events, and involve certain risks and uncertainties that are
difficult to predict and are not guarantees of future performance.
Therefore, actual future results, performance, or achievements of
Evogene and its subsidiaries may differ materially from what is
expressed or implied by such forward-looking statements due to a
variety of factors, many of which are beyond the control of Evogene
and its subsidiaries, including, without limitation, the
current war between Israel and
Hamas and any worsening of the situation in Israel such as further mobilizations or
escalation in the northern border of Israel and those risk factors contained
in Evogene's reports filed with applicable securities
authorities. In addition, Evogene and its subsidiaries
rely, and expect to continue to rely, on third parties to conduct
certain activities, such as their field-trials and pre-clinical
studies, and if these third parties do not successfully carry out
their contractual duties, comply with regulatory requirements or
meet expected deadlines, Evogene and its subsidiaries may
experience significant delays in the conduct of their
activities. Evogene and its subsidiaries disclaim any
obligation or commitment to update these forward-looking statements
to reflect future events or developments or changes in
expectations, estimates, projections, and assumptions.
Contact
Rachel Pomerantz
Gerber
Head of Investor Relations at Evogene
rachel.pomerantz@evogene.com
Tel: +972-8-931190
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SOURCE Casterra Ag Ltd.