Calyxt Achieves 2020 Soybean Contracted Acreage Goal of 100,000 Acres
February 07 2020 - 8:31AM
Business Wire
Contracted Acres for 2020 Triples 2019 Planted
Acreage Footprint to Support Growing Demand for Calyxt High Oleic
Soybean Oil
First Purchase Order for HO Soybean Oil in
Industrial Segment from New Customer Operating in All Four of
Calyxt’s Premium Oil Target Markets
Calyxt, Inc. (NASDAQ: CLXT), a plant-based technology company,
has achieved its 2020 contracted acreage target, successfully
contracting 100,000 soybean acres with U.S. farmers.
The achievement of 100,000 contracted acres for 2020 represents
178% growth over Calyxt’s ~36,000 planted acres in 2019. This
achievement surpasses the company’s stated goal of doubling its
soybean acreage annually.
“We continue to strengthen Calyxt’s position as a leader in high
oleic soybeans,” said Vince Restucci, vice president of agronomy
services with Calyxt. “We are not only diversifying revenue options
for American growers, but also providing our customers with an
improved soybean oil product, driving opportunities for healthier
everyday consumer choices.”
“I am proud of our commercial and agronomy teams for their
efforts and achievement of our 2020 contracted acreage goals to
support our continued growth,” said Jim Blome, chief executive
officer of Calyxt. “The achievement of 100,000 contracted acres
will support market demand for our high oleic soybean oil, which
now includes expanded distribution through another top U.S.
foodservice distributor and use in prominent restaurants on the
East Coast.
“We also received our first purchase order from a world class
customer that operates in all four of our premium oil target
markets: foodservice, food ingredients, animal nutrition, and
industrial. I look forward to an exciting 2020 and sharing more
details about the year ahead on our upcoming yearend earnings call
in March,” concluded Blome.
About Calyxt
Calyxt (NASDAQ: CLXT), based in Roseville, Minnesota, is a
plant-based technology company that utilizes 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 can 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
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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/20200207005079/en/
Calyxt Media contact Trina Lundblad Director of
Communications +1 612-790-0514 media@calyxt.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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