Calyxt and Agtegra Cooperative Announce Strategic Collaboration to Distribute Calyxt High Oleic Soybean
Minneapolis-St. Paul, Minn. – February 19, 2019 – Calyxt, Inc. (NASDAQ: CLXT) a consumer-centric, food and agriculture-focused Company, and Agtegra Cooperative (Agtegra) announced today that Agtegra will offer distribution, storage and transportation services for Calyxt High Oleic Soybean to its customers. Agtegra is an innovative farmer owned grain and agronomy cooperative serving over 6,300 farmer members across North and South Dakota. They are the eighth largest ag retailer in the United States.
“This collaboration highlights the maturing of Calyxt’s business model and proves that our unique Identity Preserved Program is attracting world class partners that provide value to food brands, consumers and farmers,” said Jim Blome, CEO of Calyxt. “Forming this relationship allows us to expand our grower network and broaden our supply chain capabilities to strongly position Calyxt with premier food companies focused on large-scale commercialization of healthier food ingredients for consumers.”
As part of this agreement, Calyxt and Agtegra will work together to distribute Calyxt High Oleic Soybean seeds to the cooperative’s farmer members in South Dakota and provide field services for proper placement and agronomic advice during the growing season. The collaboration will also include the storage and handling of Calyxt High Oleic Soybean grain at Agtegra under the Calyxt Soybean Identity Preserved Program, and logistics and transportation services for grain shipments. These services will build upon the existing Calyxt grower base for the Company’s next product launch by collaborating with some of the Agtegra customers who also grow wheat, as well as elevators, to establish the Calyxt Wheat Identity Preserved supply chain.
“We are excited about this relationship, as it further acknowledges Agtegra is at the forefront of bringing the latest in agricultural innovation to our customers in the Dakotas,” said Chris Pearson, CEO of Agtegra. “We look forward to working with Calyxt and our growers to help them gain access to this value-added channel for their production. This offering aligns perfectly with our mission.”