US agricultural bioscience company Yield10 Bioscience has signed a memorandum of understanding (MoU) and licensing agreement with Nuseed Nutritional US – the seed technologies platform of Nufarm – for omega-3 assets to produce camelina oil.
The US$5M agreement granted Australian agricultural chemical company Nufarm a commercial license to Yield10’s omega-3 intellectual property assets, materials and know-how to produce camelina oil, Yield10 said on 17 July.
Yield10 said it also had agreed to negotiate with Nufarm for the sale of its remaining assets, subject to shareholder agreement.
“Yield10 camelina assets and know-how in both omega 3 and bioenergy sectors have a unique fit with Nufarm’s Value Beyond Yield and platform strategies,” Nufarm CEO and group executive said Greg Hunt.
“While the programme still requires further development time and investment before achieving revenue, it offers a broadened portfolio of solutions for our customers.”
Woburn-headquartered Yield10 develops camelina as a platform crop for large-scale production of sustainable seed products. Its seed products include feedstock oils for renewable diesel and sustainable aviation fuel (SAF) and omega-3 oils for pharmaceutical, nutraceutical and aquafeed applications.
The company has a Canadian subsidiary, Yield10 Oilseeds.
