(WOBURN, Mass.) Yield10 Bioscience, Inc., an agricultural bioscience company, today announced its 2023 enrollment program for contract production of Camelina. Yield10 is offering contracts for both spring and winter varieties of Camelina to farmers located in Western Canada (Alberta, Saskatchewan and Manitoba), and Northern U.S. (Montana, North Dakota, South Dakota, Idaho and Minnesota). Yield10 is offering growers offtake production contracts for Camelina with net returns similar to canola, a strategy the Company believes will enable it to participate in the high-growth biofuels market.
In 2023, Yield10 plans to contract with growers for planting high-performing, spring and winter Camelina varieties as part of an initiative to establish pre-commercial production and offtake relationships in the biofuels market. These grower contracts currently do not require up-front costs for seed and provide a guaranteed minimum revenue per acre. Among the benefits of the program is that it allows for the product to be moved off the farm quickly following harvest. Yield10 plans to expand the planting acreage going forward by providing growers improved varieties, including introducing herbicide tolerant Camelina to enable better weed control and higher yields over time. Yield10 is currently field-testing herbicide tolerant Camelina varieties for seed scale up, regulatory approval, and commercial development for the biofuel market.
“We look forward to engaging with farmers in the U.S. and Canada to ramp up experience with Camelina and to drive widespread commercial adoption of this promising new oilseed crop,” said Darren Greenfield, Senior Director of Seed Operations at Yield10 Bioscience. “Yield10 is developing relationships across the biofuel supply chain, with one of our key goals being to establish Camelina as a revenue generating crop for farmers, producing a low-carbon intensity source of feedstock oil for transportation and sustainable aviation fuel markets.”
Yield10 will attend the Farming Smarter Conference and Trade Show, February 15 – February 16, 2023. Visit our booth to learn more about growing Camelina.
Yield10 will attend the 2023 Ag-Expo and North American Seed Fair, February 28 – March 2, 2023. Visit us to learn more about growing Camelina at the Mercer Seeds booth # 121.
About Camelina sativa
Camelina sativa, commonly known as Camelina or false flax, is an annual oilseed plant in the mustard family that is native to Europe. Camelina has the potential to replicate the development of modern canola from rapeseed on an accelerated timeline based on modern technologies, including genomics and genome editing. Additionally, Camelina grows well on marginal lands, displays early maturation, has enhanced drought and cold tolerance, and requires fewer inputs than other oilseed crops. With social conscience and sustainability in mind, Yield10 is leveraging its innovations in Camelina to use it as a platform crop for producing low-carbon intensity feedstock oil for renewable fuel; omega-3 nutritional oils; high-protein meal; and PHA bioplastic.
About Yield10 Bioscience
Yield10 Bioscience, Inc. is an agricultural bioscience company that is using its differentiated trait gene discovery platform, the “Trait Factory”, to develop improved Camelina varieties for the production of proprietary seed products, and to discover high value genetic traits for the agriculture and food industries. Our goals are to efficiently establish a high value seed products business based on developing superior varieties of Camelina to produce biofuel feedstock oils, PHA bioplastics and omega-3 (EPA, DHA+EPA) oils and to license our yield traits to major seed companies for commercialization in major row crops, including corn, soybean and canola. Yield10 is headquartered in Woburn, MA and has Yield10 Oilseeds Inc, 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, expectations related to grower contracts, net returns for offtake production contracts, the Company’s goals related to Camelina as a revenue generating crop and Camelina’s potential, the Company’s expectations that Camelina will be a successful crop for growers in the U.S. and Canada, the Company’s plans to contract with growers and the Company’s commercialization plan for Camelina, 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.