US agricultural bioscience company Yield10 Bioscience has signed a camelina offtake agreement with US refiner Marathon Petroleum Corp.
US agricultural bioscience company Yield10 Bioscience has signed a camelina offtake agreement with US refiner Marathon Petroleum Corp.
The two companies had signed a non-binding letter of intent regarding the potential venture, Yield10 said on 1 May.
As part of the agreement, Yield10 would supply camelina feedstock oil to Marathon for use in the production of renewable fuel.
“Yield10 continues… its… plan to supply low-carbon intensity camelina feedstock oil to the growing North American biofuel market through a network of supply chain alliances,” Yield10 Bioscience president and CEO Oliver Peoples said.
Woburn-headquartered Yield10 develops crop systems and uses its ‘Trait Factory’ to develop improved camelina varieties.
According to its website, the company’s goal is to establish a high-value seed products business based on developing camelina varieties for the production of feedstock oils, nutritional oils, and polyhydroxyalkanoates (PHA) bioplastics, and to license its yield traits to major seed companies for commercialisation in row crops, including canola, corn and soyabean.