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Yield10 Bioscience establishes 50 acre planting of Camelina in Montana
Yield10 Bioscience 50 acres of Camelina planted in Montana, July 2020.
WOBURN, Mass., Aug. 05, 2020 (GLOBE NEWSWIRE) -- 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.
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.
Lynne H. Brum, (617) 682-4693, LBrum@yield10bio.com
Bret Shapiro, (561) 479-8566, email@example.com
Managing Director, CORE IR
Eric Fischgrund, firstname.lastname@example.org
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b29eac70-e5a6-4103-b00e-00913474123a