Mar 16, 2022
-Establishing the Camelina crop as a replenishable reserve of feedstock oil for biofuels
-Winter Camelina could expand acres available for feedstock oil while improving soil health and providing sustainability benefits
-Yield10 publishes white paper entitled “Biofuels and Bioplastics Commercial Development Plan”
WOBURN, Mass. – March 16, 2022 – Yield10 Bioscience, Inc. (Nasdaq:YTEN) (“Yield10” or the “Company”), an agricultural bioscience company, today announced that its Chief Executive Officer Dr. Oliver Peoples, Ph.D. will present at the Advanced Bioeconomy Leadership Conference 2022 (“ABLC”) being held at the Mayflower Hotel in Washington D.C. March 16-18, 2022. Learn more about ABLC on the conference website.
Dr. Peoples will make a presentation on March 16 at 4:30 pm ET as part of the “Advanced Agriculture and Feedstock Summit”. The presentation, entitled, “Camelina for Low-Carbon Biofuels Feedstock Oil,” will describe the benefits of Camelina as a new major platform crop to address the supply challenges in securing feedstock oil for use in biofuels. A copy of Dr. People’s presentation as well as a white paper entitled “Biofuels and Bioplastics Commercial Development Plan” are available on Yield10’s website.
Yield10 is focused on launching and commercializing Camelina as a platform crop to supply low-carbon feedstock oil for the biofuels market in the U.S. and Canada. The Company is
developing spring varieties of elite Camelina for use in crop rotations as well as winter varieties for use as cover crops to utilize farmland following harvest of spring food crops. In 2022, Yield10 plans to ramp up Camelina seed production through relationships with contract growers as well as engage with supply chain participants for seed crushing and oil off-take.
“Decarbonizing transportation fuels is an important initiative aligned with addressing both climate change as well as energy security in the U.S. and Canada,” said Oliver Peoples, Ph.D., Chief Executive Officer of Yield10 Bioscience. “We are focused on establishing Camelina as a renewable reserve of feedstock oil for biofuel providing an attractive value proposition to growers, seed crushers, and energy companies. We are in the early commercial launch stage of the business with our initial spring and winter lines and are also rapidly advancing development of herbicide tolerant Camelina to enable planting on large acreage to address the rising demand for low-carbon feedstock oil.”
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 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 feedstock oil for renewable fuel; omega-3 nutritional oils; high-protein meal; and PHA bioplastic.
As part of the energy transition, a substantial increase in biofuels production capacity in the United States and Canada is currently underway, with proposed and funded facilities having a total capacity of more than 5 billion gallons of biofuels per year. Expansion has surged due to biofuels’ low carbon footprint, federal and local subsidies, and the ability of renewable diesel to be used as a drop-in replacement for petroleum diesel. Biofuels feedstock is supplied mainly from used cooking oil, animal fats (e.g., tallow), and vegetable oil, with the former two feedstock sources in short supply due to limited production capacity. Yield10 therefore expects the increase in biofuels feedstock demand over the next few years to be filled by vegetable oils, which itself have a global production of only 50 billion gallons per year. Moreover, a third of vegetable oils produced globally are palm oils, which do not qualify for many biofuels subsidies because of their high carbon footprint. In contrast, Camelina’s low carbon footprint, and ability to be grown as a cover crop on otherwise fallow land, make it an attractive choice to fill the biofuels feedstock supply gap.
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 (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 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 expectation that it will launch and commercialize Camelina as a platform crop to supply low-carbon feedstock oil for the biofuels market in the U.S. and Canada; expectations with regard to the timing of the development of the spring and winter varieties of Camelina and the advancement of the herbicide tolerant Camelina to enable planting on large acreage; the Company’s intentions with regard to plans to ramp up Camelina seed production through relationships with contract growers and supply chain participants; the Company’s expectations related to the economic value of oilseed crops; and the Company’s belief that Camelina is an attractive choice to fill the biofuels feedstock supply gap and produce low-carbon feedstock oil for renewable fuel; omega-3 nutritional oils; high-protein meal; and PHA bioplastic; and the Company’s expectations that the increase in biofuels feedstock demand over the next few years will be filled by vegetable oils, 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, firstname.lastname@example.org
Managing Director, CORE IR
Eric Fischgrund, email@example.com