Calyxt® Announces Seed Agreement with Landus Cooperative
MINNEAPOLIS & ST. PAUL, Minn.--(BUSINESS WIRE)-- Calyxt, Inc. (NASDAQ: CLXT), a healthy food ingredients company, today announced that the Company has expanded its geographic footprint for acreage growth and weather-risk diversity by adding Landus Cooperative’s seed distribution, agronomy support, grain storage, and transportation services for Calyxt high oleic soybeans.
This agreement expands the Company’s supply chain network into Iowa’s 10 million acre soybean market, which is about 11% of total U.S. soybean production. The Landus Cooperative farmer-owners will be able to plant Calyxt’s high oleic soybeans in the 2020 growing season.
Landus Cooperative, a farmer-owned company in Iowa, has 30 dedicated agronomists partnering locally with growers to evaluate and recommend sustainable management programs to grow high-quality grain. The diversified cooperative has locations in 60 communities in Iowa, approximately 7,000 members and is the sixth-largest grain company in North America (based on storage capacity) aggregating more than 170 million bushels of corn and soybeans annually.
“By further strengthening our relationship with Landus Cooperative through this added seed distribution agreement, we are underscoring confidence in our ability to achieve 100,000 contracted acres in 2020,” said Jim Blome, chief executive officer with Calyxt. “What’s more, we can leverage their footprint and reach to expedite the launch of our new varieties.”
“Landus Cooperative advocates for our farmer-owners by creating opportunities to elevate the value of their grain with specific acres planted for a specific, consumer-destined purpose,” explained Landus Cooperative CEO, Milan Kucerak. “Our agronomy expertise and programs serve a critical role in building an identity-preserved supply chain with opportunities for future growth. By offering Calyxt’s high oleic soybeans, Landus Cooperative continues to build relationships that connect food companies with our farmers.”
Calyxt is committed to making the food you love a healthier choice. The care we take extends beyond nutritional value. We partner with farmers and food companies to deliver traceable plant-based products developed to be healthier and more sustainable than their conventional counterparts. We use cutting edge plant breeding techniques to develop products that help improve diets by reducing bad fats, allergens and toxins. Today oil from our high oleic soybean plants has lower saturated fats than commodity soybean oil. We are also developing high fiber wheat designed to provide an excellent source of daily fiber when incorporated into wheat-based foods. We continuously pursue innovation to deliver good food that is good for you.
Calyxt is located in Roseville, MN, and is listed on the Nasdaq market (ticker: CLXT). For further information please visit our website at www.calyxt.com.
Calyxt®, Calyno™ and the corporate logo are trademarks owned by Calyxt, Inc.
About Landus Cooperative
Landus Cooperative® is a farmer-owned agricultural cooperative headquartered in Ames, Iowa, with about 600 full-time employees at locations in more than 60 communities and approximately 7,000 member-owners. Our diversified cooperative offers precision agronomy services with approximately 40 agronomists; AcreEdge®, a proprietary member-owned brand of soybeans; expert risk management services; domestic and global grain merchandising; and manufactures a branded, high bypass protein soybean meal for dairy herds across the globe. For more information, visit www.LandusCooperative.com.
Calyxt Forward-Looking Statements
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Trina Lundblad, Communications Director
Phone: +1 612-790-0514
Investor Relations contact:
Simon Harnest, VP Corporate Strategy and Finance
Phone: +1 646-385-9008
Released September 19, 2019