Technological watch
Yield10 Bioscience and Mitsubishi Corporation Sign MOU to Evaluate the Establishment of a Partnership to Supply, Offtake and Market Camelina as a Feedstock Oil for Biofuel
Yield10 Bioscience, Inc. (Nasdaq:YTEN) (“Yield10” or the “Company”), an agricultural bioscience company, today announced that it has signed with Mitsubishi Corporation (“Mitsubishi”) a Memorandum of Understanding (“MOU”) to evaluate the establishment of a partnership to supply, offtake and market Camelina as a low-carbon feedstock oil for biofuels. Mitsubishi Corporation recently announced ts aim to mass produce sustainable aviation fuel to decarbonize commercial aviation.
Under the MOU, the companies plan to jointly undertake a feasibility study for the supply and offtake of Camelina oil from Camelina grain grown under contract using Yield10’s proprietary Camelina seed genetics to supply oil for the sustainable aviation fuel market. In addition, the companies also plan to jointly study the development and future offtake and marketing of PHA bioplastic produced in Camelina by Yield10 as an added value co-product with oil for biofuels. The MOU is non-binding and expires at the end of 2023.
“Yield10 and Mitsubishi are aligned on the sustainability benefits that the Camelina crop could bring to the transportation fuels market,” said Oliver Peoples, Ph.D. President and Chief Executive Officer of Yield10 Bioscience. “Over the next several months, we look forward to working with the Mitsubishi team to develop a framework for a collaboration to jointly develop and build our Camelina business in the U.S. and other important geographies.”
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) 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.
ContactYield10 Bioscience
Lynne H. Brum
phone: (617) 682-4693
E-Mail: LBrum@yield10bio.com
Under the MOU, the companies plan to jointly undertake a feasibility study for the supply and offtake of Camelina oil from Camelina grain grown under contract using Yield10’s proprietary Camelina seed genetics to supply oil for the sustainable aviation fuel market. In addition, the companies also plan to jointly study the development and future offtake and marketing of PHA bioplastic produced in Camelina by Yield10 as an added value co-product with oil for biofuels. The MOU is non-binding and expires at the end of 2023.
“Yield10 and Mitsubishi are aligned on the sustainability benefits that the Camelina crop could bring to the transportation fuels market,” said Oliver Peoples, Ph.D. President and Chief Executive Officer of Yield10 Bioscience. “Over the next several months, we look forward to working with the Mitsubishi team to develop a framework for a collaboration to jointly develop and build our Camelina business in the U.S. and other important geographies.”
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) 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.
ContactYield10 Bioscience
Lynne H. Brum
phone: (617) 682-4693
E-Mail: LBrum@yield10bio.com
This project has received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement No 870292.
