Calyxt Inks Agreement with KemX Global to Refine High-Oleic Soybean Oil
MINNEAPOLIS & ST. PAUL, Minn.--(BUSINESS WIRE)--Oct 4, 2018--Calyxt, Inc. (Nasdaq: CLXT), a consumer-centric, food- and agriculture-focused company, announced today that the Company has inked an agreement with KemX Global, a leading provider of innovative organic processing of oils, to refine Calyxt’s high-oleic soybean oil – an advancement that will allow Calyxt to produce food-grade high-oleic soybean oil as the Company’s first product that is expected to hit the market in late 2018/ early 2019.
“This agreement is another important step in scaling up Calyxt’s supply chain, leading up to the commercialization of our high-oleic soybean oil,” said Manoj Sahoo, Calyxt’s Chief Commercial Officer. “KemX’s Boone Plant, which has a strong reputation and Level 2 certification from the Safe Quality Food Institute, permits Calyxt to work with multiple crush plants in the Midwest region. This will allow for the production of consistent, high-quality oil, which is a direct response to the growing demand for premium oils from food companies across the U.S.”
Based in Boone, Iowa, KemX Global – with a plant that is organic and non-GMO-certified – has the capacity to refine 115 million pounds of premium oils per annum. The plant design incorporates the latest advances in physical refining to reduce the use of chemicals in the oil refining process.
Last month, Calyxt announced an agreement with American Natural Processors (ANP), a leading provider of innovative non-GMO and organic processing of oils, flours and meals, to crush Calyxt’s high-oleic soybean variety and produce the Company’s high-oleic soybean oil. Additionally, in mid-2015, Calyxt received a letter from the United States Department of Agriculture (USDA) confirming that the Company’s high-oleic soybean variety is non-regulated, as the product contains no foreign DNA.
Calyxt, Inc. is a consumer-centric, food- and agriculture-focused company. Calyxt is pioneering a paradigm shift to deliver healthier food ingredients, such as healthier oils and high fiber wheat, for consumers and crop traits that benefit the environment and reduce pesticide applications, such as disease tolerance, for farmers. Calyxt develops non-transgenic crops leveraging processes that occur in nature by combining its leading gene-editing technology and technical expertise with its innovative commercial strategy. Calyxt is located in Minneapolis-St. Paul, MN, and is listed on the Nasdaq market (ticker: CLXT).
For further information please visit our website: www.calyxt.com
Calyxt™ and the corporate logo are trademarks owned by Calyxt, Inc.
TALEN ® is a registered trademark owned by the Cellectis S.A.
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.
View source version on businesswire.com:https://www.businesswire.com/news/home/20181004005788/en/
Jennifer Moore, VP Communications
Caitlin Kasunich / Nick Opich
KCSA Strategic Communications
212.896.1241 / 212.896.1206
Simon Harnest, VP Corporate Strategy and Finance
KEYWORD: UNITED STATES NORTH AMERICA MINNESOTA
INDUSTRY KEYWORD: OTHER CONSUMER HEALTH FITNESS & NUTRITION NATURAL RESOURCES AGRICULTURE RETAIL FOOD/BEVERAGE RESEARCH CONSUMER SCIENCE GENERAL HEALTH
SOURCE: Calyxt, Inc.
Copyright Business Wire 2018.
PUB: 10/04/2018 04:30 PM/DISC: 10/04/2018 04:30 PM