Yield10 Bioscience 50 acres of Camelina planted in Montana, July 2020.
Woburn, MA (August 5, 2020) - Yield10 Bioscience, Inc. (Nasdaq:YTEN), an agricultural bioscience company, 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,” says 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.”
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.