Moolec Confirms US Harvest and Promising Yields for Plant-Grown Products GLASO(TM) and Piggy Sooy(TM) in October
Rhea-AI Summary
Moolec Science SA (NASDAQ:MLEC) has announced the upcoming harvest of its genetically engineered plant-grown products GLASO™ and Piggy Sooy™ in October 2024. The GLASO™ campaign in Idaho covers 600 acres and is expected to yield 300-400 tons of high-GLA safflower seeds. Moolec has secured an offtake agreement with a major global CPG company for GLASO™, targeting the US market in 2025. Piggy Sooy™ field trials are being conducted in Ohio, Missouri, and Iowa for product development, seed increase, and regulatory data gathering. Moolec recently obtained USDA-APHIS approval for Piggy Sooy™ cultivation, marking a significant milestone in Molecular Farming. The company aims to provide sustainable solutions in agriculture and biotechnology, with Piggy Sooy™ potentially producing pork meat proteins equivalent to 10 pigs per acre while reducing environmental impact.
Positive
- Secured offtake agreement with major global CPG company for GLASO™ product
- GLASO™ contains 3 times more GLA than conventional sources
- Obtained USDA-APHIS approval for Piggy Sooy™ cultivation in the US
- Piggy Sooy™ potentially produces pork meat proteins equivalent to 10 pigs per acre
- Expanding commercial strategy to reach larger markets and clients
Negative
- None.
News Market Reaction
On the day this news was published, MLEC declined 8.15%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
LUXEMBOURG / ACCESSWIRE / September 5, 2024 / Moolec Science SA (NASDAQ:MLEC) ("The Company", "Moolec"), a science-based food ingredient company, announced today the harvest confirmation of US campaigns for genetically engineered plant-grown products GLASO™ and Piggy Sooy™ during October 2024.
GLASO™ (gamma-linolenic acid -GLA- in safflower oil) campaign located in Idaho consists of 600 planted acres of genetically modified safflower, mainly for commercial purposes. As a result of the harvest, Moolec is expecting to produce between 300 to 400 tons of safflower seeds that contain high levels of GLA. To allocate most of the upcoming GLASO™ production, Moolec has secured an offtake agreement with a major global CPG company, targeting the US market in 2025. Following a successful and rigorous audit from Moolec's CPG customer, production is set to begin in late 2024.
The Company is also developing a broader commercial strategy to reach larger markets and clients. Moolec's GLASO™ product contains almost 3 times more GLA than conventional sources such as borage and primrose oil, making it the most concentrated GLA oil available on the market.
Piggy Sooy™ (porcine myoglobin in soybean seeds) field trials are being carried out in 3 different US locations: Ohio, Missouri and Iowa. Main purposes for the campaign are product development (sampling), seed increase and gathering of environmental and regulatory data to continue Moolec's US-FDA approval pathway. The Team also projects a remarkable first open field performance for its bioengineered soybean Piggy Sooy™ after recent approval for cultivation from USDA-APHIS. This has set an unprecedented milestone in biotechnology last April, with Moolec becoming the first Molecular Farming company to obtain this kind of clearance for food crops growing animal proteins in US territory.
Chief Technology Officer and Co-Founder Martín Salinas stated: "Our commitment to scaling Moolec's Molecular Farming Technology is demonstrated by our GLASO™ campaign and the field trials of Piggy Sooy™. These efforts not only reinforce our position as pioneers in the industry but also lay the foundation for sustainable solutions in agriculture and biotechnology." He then finished by remarking: "One acre of Piggy Sooy™ could potentially produce pork meat proteins equivalent to 10 pigs, reducing water footprint, land usage and CO2 emissions. This is a clear demonstration on how we promote environmental improvements throughout all our operations. Our aim is to heal the meat production system."
Contact Information
Press & Media
comms@moolecscience.com
Investor Relations
ir@moolecscience.com
Related Files
SOURCE: Moolec Science
View the original press release on newswire.com.
FAQ
When will Moolec Science (MLEC) harvest its GLASO™ and Piggy Sooy™ products in the US?
How many acres of GLASO™ safflower has Moolec Science (MLEC) planted in Idaho?
What is the expected yield of GLASO™ safflower seeds for Moolec Science (MLEC)?
In which US states is Moolec Science (MLEC) conducting Piggy Sooy™ field trials?
What significant approval did Moolec Science (MLEC) receive for Piggy Sooy™ cultivation?
