Yield10 Bioscience Changes the Name of its Canadian Subsidiary to Yield10 Oilseeds Inc.

Rhea-AI Summary

Yield10 Bioscience, Inc. (Nasdaq:YTEN) announced the renaming of its Canadian subsidiary to Yield10 Oilseeds Inc. on July 12, 2022. This branding alignment highlights their focus on innovation in oilseed crops, aiming to enhance global food security and address environmental challenges. Established in 2010 and located in Saskatoon, Yield10 Oilseeds is responsible for developing and field-testing Camelina varieties with traits for biofuels and animal feed. CEO Oliver Peoples emphasized this step to strengthen grower engagement and expand Camelina production.

Positive

• Rebranding aligns subsidiary with main company focus, potentially improving market recognition.
• Strategic emphasis on growing Camelina acres may enhance biofuel and animal feed markets.
• Positioning of Yield10 Oilseeds as Center of Excellence for oilseed crop innovation.

Negative

• None.

WOBURN, Mass. and SASKATOON, Saskatchewan, July 12, 2022 (GLOBE NEWSWIRE) -- Yield10 Bioscience, Inc. (Nasdaq:YTEN) (“Yield10 Bioscience” or the “Company”), an agricultural bioscience company, today announced the name change of its wholly-owned Canadian subsidiary to Yield10 Oilseeds Inc. from Metabolix Oilseeds, Inc. effective July 12, 2022. This name change creates an alignment of Yield10 Bioscience’s Canadian subsidiary with the branding associated with the Yield10 Bioscience business, which is focused on innovation in oilseed crops to develop crop-based solutions to address global food security, climate change and plastic waste in the environment.

Yield10 Oilseeds was founded in 2010 and is based in Saskatoon, a city in the Saskatchewan province of Canada. This site, consisting of R&D labs and commercial greenhouse space, serves as Yield10 Bioscience’s Oilseeds Center of Excellence. Yield10 Oilseeds in Saskatoon is primarily responsible for the development and field testing of new commercial varieties of Camelina incorporating input traits such as herbicide tolerance, performance traits such as high oil content and new seed product traits such as PHA Bioplastics.

“By rebranding our Canadian subsidiary to Yield10 Oilseeds Inc. we are unifying our business under the Yield10 brand,” said Oliver Peoples, Ph.D., Chief Executive Officer of Yield10 Bioscience. “We are taking this step now as we are placing an emphasis within our business on grower outreach and engagement to begin ramping up Camelina acres for the production of feedstock oil targeting the biofuels market and protein meal for animal feed. As we move forward, the Yield10 Oilseeds brand will signify our commitment to innovation and excellence in oilseed crops as we bring our elite Camelina varieties to market.”  

About Yield10 Bioscience

Yield10 Bioscience, Inc. is an agricultural bioscience company that is using its differentiated trait gene discovery platform, the “Trait Factory”, to develop improved Camelina varieties for the production of proprietary seed products, and to discover high value genetic traits for the agriculture and food industries. Our goals are to efficiently establish a high value seed products business based on developing superior varieties of Camelina to produce biofuel feedstock oils, PHA bioplastics and omega-3 (DHA+EPA) oils and to license our yield traits to major seed companies for commercialization in major row crops, including corn, soybean and canola. Yield10 is headquartered in Woburn, MA and has an Oilseeds Center of Excellence in Saskatoon, Canada.

For more information about the company, please visit www.yield10bio.com, or follow the Company on Twitter, Facebook and LinkedIn.

(YTEN-G)

Safe Harbor for Forward-Looking Statements

This press release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release which are not strictly historical, including, without limitation, the Company’s expectations related to Camelina production and bringing elite Camelina varieties to market and the Company’s goals related to establishing a high value seed products business and licensing yield traits for commercialization, constitute forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, including the risks and uncertainties detailed in Yield10 Bioscience's filings with the Securities and Exchange Commission. Yield10 assumes no obligation to update any forward-looking information contained in this press release or with respect to the matters described herein.

Contacts:
Yield10 Bioscience:
Lynne H. Brum, (617) 682-4693, LBrum@yield10bio.com 

Investor Relations:
Bret Shapiro, (561) 479-8566, brets@coreir.com 
Managing Director, CORE IR

Media Inquiries:
Eric Fischgrund, eric@fischtankpr.com 
FischTank PR

FAQ

What is Yield10 Bioscience's new subsidiary name as of July 2022?

Yield10 Bioscience renamed its Canadian subsidiary to Yield10 Oilseeds Inc. on July 12, 2022.

How does the name change of Yield10 Oilseeds impact its business strategy?

The name change aligns the subsidiary with Yield10 Bioscience's branding and emphasizes their focus on innovation in oilseed crops.

What crop varieties is Yield10 Oilseeds focused on developing?

Yield10 Oilseeds is primarily developing Camelina varieties with traits for biofuel production and protein meal for animal feed.

What is the significance of the Yield10 Oilseeds rebranding for investors?

This rebranding may improve market recognition and strengthen the company's commitment to innovation in agriculture.