US plant-based technology company Calyxt is working with an undisclosed global food ingredient manufacturer based in Asia to develop an improved soyabean capable of producing an oil as an alternative to palm oil, Calyxt announced on 28 September.

The new soyabean would offer health benefits as well as improved sustainability, according to Calyxt.

As part of the collaboration, Calyxt said it would receive cash payments in each of the two years of its term.

The agreement would also include a commercial option for the global food ingredient manufacturer, according to the statement.

“This … has the potential to positively address challenges associated with palm oil by bringing forward an important new alternative,” Calyxt president and CEO Michael A Carr said.

The Minnesota-based company said it would use its proprietary technology platform to develop the improved soyabean.