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
WOBURN, Mass., Jan. 11, 2023 (GLOBE NEWSWIRE) -- 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.
- WOBURN, Mass., Jan. 11, 2023 (GLOBE NEWSWIRE) -- 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 its 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.
- “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.