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In 2023, we look forward to continuing to work toward building a supply chain for commercializing elite Camelina varieties as a platform for initially producing low-carbon intensity biofuels, including renewable diesel and sustainable aviation fuel (SAF). Following behind this effort and leveraging our innovations and technology, Yield10 is also developing Camelina as a platform to sustainably produce omega-3 oils and PHA bioplastic.
Yield10 and Mitsubishi Corp Sign MOU to Evaluate a Partnership to Supply Offtake and Market Camelina as a Feedstock Oil for Biofuel
We recently announced that the Company signed an MOU with Mitsubishi Corp to evaluate the establishment of a partnership to supply, offtake, and market Camelina as a low-carbon feedstock oil for biofuels. 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.
As the North American growing season of 2023 arrives, farmers everywhere will have no shortage of decisions to make for this year’s production. The elevated costs of fertilizer, seed, and fuel alone will put a significant strain on many operations. If drier conditions, and pest and disease issues persist, yields for many crops will continue to be capped. These and a host of other factors have producers looking towards lower input, more resilient crops to occupy a larger portion of their rotations. Farmers facing these issues as well as looking for new crop rotations should consider growing Camelina from Yield10 as a viable option.
Contracting with prairie farmers to plant high-performing spring and winter Camelina varieties is part of Yield10’s initiative to establish pre-commercial production and off-take relationships in the biofuels market, in an effort to help fill the world’s growing demand for biofuels and mitigation of climate change. The grower contracts offered by Yield10 do not currently require an up-front cost for seed and provide a guaranteed minimum revenue per acre. The enrollment program targets farmers in Western Canada (Alberta, Saskatchewan, and Manitoba), and Northern US (Montana, North Dakota, South Dakota, Idaho, and Minnesota). Both spring and winter varieties are available for 2023.
“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.
Beyond 2023, Yield10 is poised to become the leader in the commercialization of Camelina production. Our development of agronomic and performance traits in Camelina continues apace. We made excellent progress developing and testing herbicide tolerant Camelina varieties in 2022, which allow the use of over-the-top broad-leaf weed control and this will continue to be a focus of our activities in 2023. This initiative is aimed at bringing a robust herbicide tolerance package to growers to enable the planting of large acreage of Camelina, a key factor in meeting the demand for feedstock oil in the biofuel market.
Growers, with the incentives offered by Yield10 for production of Camelina in 2023, why not try it this growing season? For more information, visit our Growers Page.
In early 2023, we appointed Davis McCarthy PAg to the role of Sales and Logistics Manager. Davis will support grain off-take logistics and commercial contract seed production and will play a key role in engaging with growers interested in signing Camelina production contracts.
Davis McCarthy joins Yield10 after a position with Scoular, a private agribusiness company specializing in grain origination, international trade, and transportation, where he previously served as Senior Grain Buyer & Logistics Manager.
When asked about joining Yield10, Davis commented, “I am very excited to be a part of Yield10 and that my passion for agriculture is valued in its strategic growth. The developments being pioneered by Yield10 in Camelina are invaluable tools for the crop’s widespread adoption and viable production. Not only pursuing agronomic advances, Yield10’s drive to pursue value-added markets for Camelina will provide invaluable opportunities to the sustainability and growth of many different industries.”
Along with his time at Scoular, Davis possesses invaluable experience as an Agronomist with Cavalier Agrow, as a Research Technician at Ag-Quest, a contract research organization located in Saskatoon, and in various positions on private farms located in Canada, Europe, and Australia.
Yield10 will be showcasing our expertise in Camelina at two upcoming trade shows. From February 15-16, members of the Yield10 team will be at the Farming Smarter Conference and Trade Show in Lethbridge, Alberta. This event looks to unite the brightest and most innovative minds that southern Alberta’s agriculture community has to offer. Over the two days, visitors will be able to drop into Yield10’s booth and learn about Camelina while also enjoying some of the engaging presentations the show has to offer.
Later in February and running into March, Yield10 will also be present at the 2023 Ag-Expo & North American Seed Fair, Western Canada’s premier agricultural exhibition, this year featuring the North American Seed Fair. Yield10 will be set up at the Mercer Seeds booth # 121, playing our part in an event that will bring together exhibitors from around the world to showcase their top products that improve agricultural production.
To find out more about Camelina production and the biofuels industry, take a look at these recent news articles:
Camelina: the Next Big Oilseed?
Yield10, Mitsubishi ink camelina-for-SAF MOU: Has Camelina’s hour arrived?
How can the aviation industry cut emissions?
Our blog posts contain forward-looking statements. These statements are not guarantees of future performance, and therefore, you should not place undue reliance on them. Investors are also cautioned that statements that are not strictly historical, constitute forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause the actual results to differ materially from those anticipated. These risks include risks and uncertainties detailed in Yield10’s filings (10-K and 10-Q) with the SEC. The company undertakes no obligation to update any forward-looking statements in order to reflect events or circumstances that may arise after the date of the publication of the blog post.
