WOBURN, Mass. and LONGMONT, Colo. - Yield10 Bioscience, Inc. (NASDAQ:YTEN), an agricultural bioscience company, has licensed proprietary Camelina sativa varieties to VISION Bioenergy Oilseeds, LLC for the production of biofuel feedstock oil. The agreement aims to support the biofuel market's expansion and contribute to the decarbonization of the aviation, maritime, and heavy-duty transport sectors.
Under the terms of the license, VISION will make cash payments totaling $3 million to Yield10 for the right to use certain Camelina varieties, including those with herbicide tolerance. VISION's exclusivity to commercialize the licensed traits for biofuels will last three years, after which the license will become non-exclusive globally.
Yield10 will supply VISION with Camelina varieties that exhibit tolerance to the broadleaf herbicide glufosinate and soil residual Group 2 herbicides. This development is expected to facilitate the commercial production of Camelina, which is currently increasing in North America as an ultra-low carbon feedstock oil source.
VISION plans to test the herbicide tolerance system with key Camelina growers in 2024, with a potential commercial launch anticipated in 2025. Don Panter, CEO of VISION, expressed the importance of herbicide tolerance for scaling up Camelina production, which can be used as a cover crop or in rotation with other commercial crops.
Oliver Peoples, Ph.D., CEO of Yield10 Bioscience, stated that the license to VISION will enable the scale-up and market penetration of their Camelina technology in the biofuels sector. Yield10 retains the right to sublicense these traits and continue developing Camelina for other uses, including omega-3 oil production.
The agreement follows the USDA-APHIS's determination in November 2023 that Yield10's glufosinate tolerant Camelina and its stacked herbicide tolerant varieties may be planted and bred in the United States. An application for adding Camelina to a glufosinate label is pending with the U.S. Environmental Protection Agency.
VISION Bioenergy Oilseeds is a joint venture between S&W Seed Company (NASDAQ: NASDAQ:SANW) and Equilon Enterprises, LLC, operating under Shell (LON:SHEL) Oil Products US. This partnership combines agricultural expertise with Shell's leadership in renewable fuel technology.
The information in this article is based on a press release statement from Yield10 Bioscience, Inc.
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