Apr 27, 2022
WOBURN, Mass., April 27, 2022 (GLOBE NEWSWIRE) -- Yield10 Bioscience, Inc. (Nasdaq:YTEN) (“Yield10” or the “Company”), an agricultural bioscience company, today named Willie Loh, Ph.D., as a special advisor to the Board of Directors and Management of the Company, effective immediately. Dr. Loh previously served as Vice President, Market Development, Global Edible Oils Division at Cargill Incorporated, the global food and agriculture company.
“We are excited to have Willie join our team as we progress towards commercialization of our Camelina platform for oils. His extensive knowledge of the commercial landscape for commodity and specialty oils, including omega-3 oils, making him uniquely suited to an advisory role with us as we advance our commercial plans for Camelina,” said Oliver Peoples, Ph.D., Chief Executive Officer of Yield10 Bioscience. “His tenure and significant experience in the oils market will enable him to provide our team with important strategic market and technology insights as we engage with market participants to commercialize Camelina oil and meal.”
“An unprecedented global demand for vegetable oil is currently being driven by oil requirements for biofuels, human nutrition and animal feed as well as supply disruptions anticipated by geopolitical circumstances,” said Dr. Loh. “Yield10 has made great strides developing Camelina as a new commercial crop with the potential to address the growing gap between vegetable oil supply and demand. Based on the positive characteristics of the crop, I believe Camelina will be welcomed by the industry. I look forward to working with the Yield10 team and contributing to the Company's success.”
Willie retired in 2020 as Vice President for Cargill’s Global Edible Oil Solutions group in North America, where he had responsibilities for market development of novel oil products and led its Project Management Office. Prior to this assignment, Willie led marketing professionals responsible for strategic planning, new business development, product management and innovation in food ingredient oils, foodservice oils and planting seed. Willie joined Cargill in 1995 and led the specialty oils sales team for 10 years.
Willie received his Bachelor’s Degree in Biology from Columbia. He has a Master’s Degree in Botany from Rutgers University and a Ph.D. in Microbiology from the Ohio State University. Willie also worked as a Post-Doctoral Research Fellow in Cell and Molecular Biology at the University of Virginia. He has published original research articles in Oil Chemistry, Oilseed Biochemistry, Microbial Physiology and Plant Molecular Genetics and has been granted more than a dozen patents in these areas.
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 to produce 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, the Company’s expectations regarding Dr. Loh’s contributions and insights; Camelina’s potential to address the gap between vegetable oil supply and demand; the belief that Camelina will be welcomed by the vegetable oil industry; and the Company’s goals and plans for commercialization, 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