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Begins income technology for “Camelina Seed Genetics to Biofuel” platform
WOBURN, Mass., Oct. 03, 2023 (GLOBE NEWSWIRE) — Yield10 Bioscience, Inc. (Nasdaq:YTEN) (“Yield10” or the “Firm”), an agricultural bioscience firm, right this moment introduced that the harvest of a majority of the winter and spring Camelina sativa (“Camelina”) grain produced underneath grower contracts in 2022/2023 has been accomplished. This harvest marks the institution of the Firm’s “Camelina Seed Genetics to Biofuel” platform, because the Camelina grain is being delivered to an offtake companion that has crushed the grain and refined the oil into biofuel. Because of this, Yield10 has begun producing income from Camelina grain supply for the manufacturing of feedstock oil for sustainable transportation fuels. Yield10 expects the income stream from gross sales of Camelina grain to be a key contributor to the Firm’s monetary profile within the coming years.
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“We’re extraordinarily happy to attain this milestone of producing income by commercializing our ‘Camelina Seed Genetics to Biofuel’ platform,” mentioned Oliver Peoples, Ph.D. President and Chief Government Officer of Yield10 Bioscience. “This was achieved by the dedication and dedication of the Yield10 crew working carefully with growers as companions. As we now have transitioned to the commercialization of Camelina, we will now flip our focus to constructing the expertise basis to speed up grower adoption of Camelina for the biofuels market. We consider that our herbicide tolerant Camelina varieties, at present progressing by improvement, regulatory overview and scale-up, will play a significant position in our technique to develop acreage considerably over time. We stay centered on assembly our future commercialization targets and plan to proceed income technology and in the end to totally understand our imaginative and prescient for Yield10.”
One in all Yield10’s major targets for 2023 was to display the industrial facets of its worth chain, which gives proprietary Camelina seed genetics, contains the signing of grower contracts, and facilitates well timed grain offtake for the crushing and refining of Camelina grain into biofuel. This milestone demonstrates the Firm’s capabilities to interact growers, construct sturdy industrial relationships, execute logistics, and in the end drive income technology. Most significantly, it gives the framework for scaling-up Camelina acreage over time to place Camelina as probably a significant supply of low-carbon index feedstock oil for the biofuel trade. Yield10 continues to interact with market individuals to safe extra partnerships within the biofuel house.
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Yield10 engaged with growers in fall 2022 to plant winter Camelina underneath industrial contract and in spring 2023 to plant spring Camelina. These crops had been harvested between July 2023 and September 2023. Suggestions from growers has up to now been optimistic, particularly in areas the place drought circumstances persevered over the season. In these areas, Camelina carried out very effectively compared to different crops.
Yield10 is working to safe grower contracts with farmers to plant Camelina for harvest within the third quarter of 2024. Potential growers are inspired to contact Yield10 to be taught extra about taking part within the “Camelina Seed Genetics to Biofuel” platform.
About
Yield10 Bioscience
Yield10 Bioscience, Inc. (“Yield10” or the “Firm”) is an agricultural bioscience firm that’s leveraging superior genetics to develop the oilseed Camelina sativa (“Camelina”) as a platform crop for large-scale manufacturing of sustainable seed merchandise. These seed merchandise embody feedstock oils for renewable diesel and sustainable aviation biofuels; omega-3 (EPA and DHA+EPA) oils for pharmaceutical, nutraceutical and aquafeed functions; and, sooner or later, PHA bioplastics to be used as biodegradable bioplastics. Our industrial plan relies on establishing a grain contracting enterprise leveraging our proprietary elite Camelina seed varieties, specializing in the rising demand for low-carbon depth feedstock oil for biofuels and omega-3 oils for dietary functions. Yield10 is headquartered in Woburn, MA and has a Canadian subsidiary, Yield10 Oilseeds Inc., positioned in Saskatoon, Canada.
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For extra details about the Firm, please go to www.yield10bio.com, or observe the Firm on X (previously Twitter), Fb and LinkedIn.
(YTEN-G)
Secure Harbor for
Ahead-Trying
Statements
This press launch incorporates forward-looking statements that are made pursuant to the protected harbor provisions of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Alternate Act of 1934, as amended. The forward-looking statements on this launch don’t represent ensures of future efficiency. Buyers are cautioned that statements on this press launch which aren’t strictly historic, together with, with out limitation, statements relating to the continued improvement of the Firm’s “Camelina Seed Genetics to Biofuel” platform, expectations relating to future commercialization of the platform and the Firm’s means to proceed producing income from gross sales of Camelina grain, the potential to speed up grower adoption of and to scale-up acreage of Camelina, the Firm’s means to proceed well timed grain offtake for the crushing and refining of Camelina grain into biofuel, the Firm’s means to safe grower contracts and to kind biofuel and different industrial partnerships, and the potential for Camelina to grow to be a sustainable supply of feedstock oil for the biofuel trade, represent forward-looking statements. Such forward-looking statements are topic to quite a lot of dangers and uncertainties that would trigger precise outcomes, together with the Firm’s quarter-to-quarter income technology from Camelina, to vary materially from these anticipated, together with, however not restricted to, the dangers and uncertainties detailed in Yield10 Bioscience’s filings with the Securities and Alternate Fee. Yield10 assumes no obligation to replace any forward-looking data contained on this press launch or with respect to the issues described herein.
Contacts:
Yield10 Bioscience:
Lynne H. Brum, (617) 682-4693, LBrum@yield10bio.com
Investor Relations:
Bret Shapiro, (561) 479-8566, brets@coreir.com
Managing Director, CORE IR
Media Inquiries:
Eric Fischgrund, eric@fischtankpr.com
FischTank PR
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