Yield10 Bioscience Announces Spring Planting of 50 Acres of Wild-Type Spring Camelina to Support Business Development Plans
August 05 2020 - 8:30AM
Yield10 Bioscience, Inc. (Nasdaq:YTEN), an agricultural bioscience
company, today announced that it established 50 acres of spring
Camelina under contract with a grower in Montana in the second
quarter of 2020. This is a business development activity necessary
to gain experience in establishing the value chain for producing
Camelina sativa seed at large scale as a source of new crop
products. The objective of this activity was to gain experience in
seed bulk-up, grower contracts, logistics and handling of harvested
seed, including toll crushing, and to produce quantities of oil and
protein meal for customer sampling. The crop has reached maturity
and is currently drying down with harvesting expected in the weeks
ahead.
“The successful establishment of spring Camelina at the 50 acre
scale is a significant milestone for Yield10 as we continue to
advance our business plan for developing Camelina seed products,”
said Oliver Peoples, Ph.D., President and Chief Executive Officer
of Yield10 Bioscience. “As we develop improved Camelina varieties
and deploy new performance and composition traits, our goal is to
use a capital efficient approach to the commercial launch of our
Camelina products. We envision opportunities for collaborations and
other commercial arrangements to drive the generation of value from
the sale of Camelina oil and meal in the near term followed by the
specialty products currently in development.”
About Yield10
Bioscience
Yield10 Bioscience, Inc. is an agricultural bioscience company
developing crop innovations to improve crop yields and enhance
sustainable global food security. The Company utilizes its
proprietary “GRAIN” (Gene Ranking Artificial Intelligence Network)
gene discovery platform to identify gene targets to improve yield
performance and value in major commercial food and feed crops.
Yield10 uses its Camelina oilseed platform to rapidly evaluate and
field test new trait leads enabling the translation of promising
new traits into the major commercial crops. As a path toward
commercialization, Yield10 is pursuing a partnering approach with
agricultural companies to drive new traits into development in
crops such as canola, soybean and corn. The Company is also
developing Camelina as a platform crop for producing nutritional
oils and specialty products such as PHA biomaterials for use in
water treatment and bioplastics. Yield10 is headquartered in
Woburn, MA and has an Oilseeds Center of Excellence in Saskatoon,
Canada.
For more information about the company, please visit
www.yield10bio.com, or follow the Company on Twitter, Facebook and
LinkedIn.
(YTEN-G)
Safe Harbor for Forward-Looking
Statements
This press release contains forward-looking statements which are
made pursuant to the safe harbor provisions of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. The forward-looking
statements in this release do not constitute guarantees of future
performance. Investors are cautioned that statements in this press
release which are not strictly historical, including, without
limitation, statements regarding the Company’s intentions with
regard to development of Camelina sativa for use at commercial
scale for North America, the ability to generate value from
Camelina oil and meal, including but not limited to the ability to
use the results of the tests in future studies or licensing,
collaboration or other commercial activities, and whether the
company’s traits will increase seed yield or boost oil content,
constitute forward-looking statements. Such forward-looking
statements are subject to a number of risks and uncertainties that
could cause actual results to differ materially from those
anticipated, including the risks and uncertainties detailed in
Yield10 Bioscience's filings with the Securities and Exchange
Commission. Yield10 assumes no obligation to update any
forward-looking information contained in this press release or with
respect to the matters described herein.
Contacts: Yield10
Bioscience:Lynne H. Brum, (617) 682-4693, LBrum@yield10bio.com
Investor Relations: Bret Shapiro, (561) 479-8566,
brets@coreir.comManaging Director, CORE IR
Media Inquiries: Eric Fischgrund, eric@fischtankpr.com FischTank
PR
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/b29eac70-e5a6-4103-b00e-00913474123a
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