Calyxt Announces Collaboration with Central Valley Ag to Expand Grower Network
December 16 2019 - 8:31AM
Business Wire
New Collaboration Expands Calyxt’s Access to
Geographies with 45% of Domestic Soybean Acreage & Helps
Support Future Launch of High Fiber Wheat Product in Four of Top
Ten Wheat Production States
Calyxt, Inc. (NASDAQ: CLXT), a plant-based technology company
focused on healthy food ingredients, has entered into a
collaboration with Central Valley Ag (CVA) Cooperative, a leading
provider of products and services in grain, agronomy, feed and
energy, to expand Calyxt’s Identity Preserved grower network for
Calyxt crop varieties.
CVA will contract acres to launch new Calyxt soybean varieties
and offer seed distribution, seed treatment and agronomy services
to Calyxt Identity Preserved growers. In addition, Calyxt will gain
access to CVA’s grain elevators and rail logistics for the shipping
of Calyxt’s High Oleic Soybean grain – further strengthening
Calyxt’s supply chain.
The new relationship with CVA, and existing relationships with
Landus and Agtegra, expands Calyxt’s access to geographies where
45% of the 89 million acres of U.S. soybean are grown. It also
helps support the future launch of Calyxt’s high fiber wheat
product in four of the top ten wheat production states in the U.S.,
including North Dakota, South Dakota, Kansas and Minnesota.
“This collaboration expands our geographic footprint into
Nebraska and Kansas where we can introduce our new soybean
varieties while further leveraging the success of our Identity
Preserved system and premium producer program,” said Jim Blome,
chief executive officer of Calyxt. “With more than 75,000 acres
already contracted, we are nearing our goal to contract 100,000
acres for 2020.
“This collaboration also expands our access to geographies with
45% of domestic soybean acreage, supporting the continued growth of
our oil customer base – having recently added multiple new
restaurant chains as customers, with a packaged goods manufacturer
in the final stages of testing. 2020 is shaping up to be an
exciting year, and we look forward to continued operational
execution and long-term shareholder value creation,” concluded
Blome.
“We are pleased to announce our collaboration with Calyxt,” said
Nic McCarthy, CVA senior vice president of agronomy. “This mutually
beneficial relationship allows our farmers an opportunity to secure
offtake and grow Calyxt’s high oleic soybean, while simultaneously
increasing the utilization of our grain elevator and rail
infrastructure. We look forward to working with Calyxt management
to create value for both their shareholders and our member-owners,”
concluded McCarthy.
About Central Valley Ag
Central Valley Ag is a farmer-owned cooperative headquartered in
York, NE. CVA has locations in Iowa, Kansas, and Nebraska. CVA is
an innovative leader providing products and services in grain,
agronomy, feed, and energy. You can find more information about
Central Valley Ag by visiting www.cvacoop.com.
About Calyxt
Calyxt (NASDAQ: CLXT), based in Roseville, Minnesota is a
plant-based technology company that utilizes our patented breeding
technology to make 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. For further information, please visit our website
at www.calyxt.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/20191216005128/en/
Calyxt Media contact Trina Lundblad, Director of
Corporate Communications Phone: +1 (612) 790-0514 email:
media@calyxt.com
Central Valley Ag Media contact Mallory Shoemaker,
Marketing Manager Phone: (785) 738-0753 Email:
mallory.shoemaker@cvacoop.com
Investor Relations contact Chris Tyson Managing Director,
MZ Group – MZ North America (949) 491-8235 CLXT@mzgroup.us
www.mzgroup.us
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