In the United States (US), Yield10 Bioscience, Inc. (Yield10), an agricultural bioscience company, has announced that it has signed a Memorandum of Understanding (MoU) with Mitsubishi Corporation (Mitsubishi) to evaluate the establishment of a partnership to supply, offtake, and market Camelina as a low-carbon feedstock oil for biofuels.
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Mitsubishi recently announced its aim to mass produce sustainable aviation fuel (SAF) to decarbonize commercial aviation.
Under the MoU, the companies plan to jointly undertake a feasibility study for the supply and offtake of Camelina oil from Camelina grain grown under contract using Yield10’s proprietary Camelina seed genetics to supply oil for the SAF market.
In addition, the companies also plan to jointly study the development and future offtake and marketing of PHA bioplastic produced in Camelina by Yield10 as an added value co-product with oil for biofuels.
The MoU is non-binding and expires at the end of 2023.
Yield10 and Mitsubishi are aligned on the sustainability benefits that the Camelina crop could bring to the transportation fuels market. Over the next several months, we look forward to working with the Mitsubishi team to develop a framework for collaboration to jointly develop and build our Camelina business in the US and other important geographies said Dr Oliver Peoples, President, and CEO of Yield10 Bioscience.