Calyxt® Announces Seed Agreement with Landus Cooperative
September 19 2019 - 4:38PM
Business Wire
Calyxt, Inc. (NASDAQ: CLXT), a healthy food ingredients company,
today announced that the Company has expanded its geographic
footprint for acreage growth and weather-risk diversity by adding
Landus Cooperative’s seed distribution, agronomy support, grain
storage, and transportation services for Calyxt high oleic
soybeans.
This agreement expands the Company’s supply chain network into
Iowa’s 10 million acre soybean market, which is about 11% of total
U.S. soybean production. The Landus Cooperative farmer-owners will
be able to plant Calyxt’s high oleic soybeans in the 2020 growing
season.
Landus Cooperative, a farmer-owned company in Iowa, has 30
dedicated agronomists partnering locally with growers to evaluate
and recommend sustainable management programs to grow high-quality
grain. The diversified cooperative has locations in 60 communities
in Iowa, approximately 7,000 members and is the sixth-largest grain
company in North America (based on storage capacity) aggregating
more than 170 million bushels of corn and soybeans annually.
“By further strengthening our relationship with Landus
Cooperative through this added seed distribution agreement, we are
underscoring confidence in our ability to achieve 100,000
contracted acres in 2020,” said Jim Blome, chief executive officer
with Calyxt. “What’s more, we can leverage their footprint and
reach to expedite the launch of our new varieties.”
“Landus Cooperative advocates for our farmer-owners by creating
opportunities to elevate the value of their grain with specific
acres planted for a specific, consumer-destined purpose,” explained
Landus Cooperative CEO, Milan Kucerak. “Our agronomy expertise and
programs serve a critical role in building an identity-preserved
supply chain with opportunities for future growth. By offering
Calyxt’s high oleic soybeans, Landus Cooperative continues to build
relationships that connect food companies with our farmers.”
About Calyxt Calyxt is committed to making the food you
love a healthier choice. The care we take extends beyond
nutritional value. We partner with farmers and food companies to
deliver traceable plant-based products developed to be healthier
and more sustainable than their conventional counterparts. We use
cutting edge plant breeding techniques to develop products that
help improve diets by reducing bad fats, allergens and toxins.
Today oil from our high oleic soybean plants has lower saturated
fats than commodity soybean oil. We are also developing high fiber
wheat designed to provide an excellent source of daily fiber when
incorporated into wheat-based foods. We continuously pursue
innovation to deliver good food that is good for you.
Calyxt is located in Roseville, MN, and is listed on the Nasdaq
market (ticker: CLXT). For further information please visit our
website at www.calyxt.com.
Calyxt®, Calyno™ and the corporate logo are trademarks owned by
Calyxt, Inc.
About Landus Cooperative Landus Cooperative® is a
farmer-owned agricultural cooperative headquartered in Ames, Iowa,
with about 600 full-time employees at locations in more than 60
communities and approximately 7,000 member-owners. Our diversified
cooperative offers precision agronomy services with approximately
40 agronomists; AcreEdge®, a proprietary member-owned brand of
soybeans; expert risk management services; domestic and global
grain merchandising; and manufactures a branded, high bypass
protein soybean meal for dairy herds across the globe. For more
information, visit www.LandusCooperative.com.
Calyxt Forward-Looking Statements This communication
contains “forward-looking statements” within the meaning of the
safe harbor provisions of the U.S. Private Securities Litigation
Reform Act of 1995. In some cases, you can identify these
statements by forward-looking words such as “may,” “might,” “will,”
“should,” “expects,” “plans,” “anticipates,” “believes,”
“estimates,” “predicts,” “potential” or “continue,” the negative of
these terms and other comparable terminology. These forward-looking
statements, which are subject to risks, uncertainties and
assumptions about us, may include projections of our future
financial performance, our anticipated growth strategies and
anticipated trends in our business. These statements are only
predictions based on our current expectations and projections about
future events. There are important factors that could cause our
actual results, level of activity, performance or achievements to
differ materially from the results, level of activity, performance
or achievements expressed or implied by the forward-looking
statements, including those factors discussed under the caption
entitled “Risk Factors” in our Annual Report on Form 10-K, along
with our other filings with the U.S. Securities and Exchange
Commission. We do not assume any obligation to publicly provide
revisions or updates to any forward-looking statements, whether as
a result of new information, future developments or otherwise,
should circumstances change, except as otherwise required by
applicable laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20190919005903/en/
Media contact: Trina Lundblad, Communications Director
Phone: +1 612-790-0514 Email: trina.lundblad@calyxt.com
Investor Relations contact: Simon Harnest, VP Corporate
Strategy and Finance Phone: +1 646-385-9008 Email:
simon.harnest@calyxt.com
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