Yield10 Bioscience Grants Global License to VISION Bioenergy Oilseeds for Herbicide Tolerant Camelina Cultivated for the Production of Biofuel Feedstock
WOBURN, Mass. and LONGMONT, Colo., Feb. 14, 2024 (GLOBE NEWSWIRE) — Yield10 Bioscience, Inc. (Nasdaq:YTEN) (“Yield10” or the “Company”), an agricultural bioscience company, and VISION Bioenergy Oilseeds, LLC (“VISION”), a U.S. agricultural company focused on commercial production of ultra-low carbon biofuel feedstock, today announced that Yield10 has granted to VISION a global license to certain proprietary varieties of Camelina sativa (“Camelina”) for the production of feedstock oil for biofuels. By facilitating the large-scale commercial production of herbicide tolerant Camelina, this license agreement is intended to empower farmers to capitalize on the growing biofuel market while advancing the decarbonization goals of aviation, maritime, and heavy-duty transport industries. Commercial production of Camelina is currently ramping up in North America as a source of ultra-low carbon feedstock oil for the biofuel industry. In consideration for the license and completion of certain deliverables, VISION will make cash payments to Yield10 totaling $3 million.