Calyxt Inks Agreement with KemX Global to Refine High-Oleic Soybean Oil
Refining Processor Will Allow Calyxt to Make Food-Grade High-Oleic Soybean Oil for Consumers
Minneapolis-St. Paul, Minn. – October 4, 2018 – Calyxt, Inc. (Nasdaq: CLXT), a consumer-centric, food- and agriculture-focused company, announced today that the Company has inked an agreement with KemX Global, a leading provider of innovative organic processing of oils, to refine Calyxt’s high-oleic soybean oil – an advancement that will allow Calyxt to produce food-grade high-oleic soybean oil as the Company’s first product that is expected to hit the market in late 2018/ early 2019.
“This agreement is another important step in scaling up Calyxt’s supply chain, leading up to the commercialization of our high-oleic soybean oil,” said Manoj Sahoo, Calyxt’s Chief Commercial Officer. “KemX’s Boone Plant, which has a strong reputation and Level 2 certification from the Safe Quality Food Institute, permits Calyxt to work with multiple crush plants in the Midwest region. This will allow for the production of consistent, high-quality oil, which is a direct response to the growing demand for premium oils from food companies across the U.S.”
Based in Boone, Iowa, KemX Global – with a plant that is organic and non-GMO-certified – has the capacity to refine 115 million pounds of premium oils per annum. The plant design incorporates the latest advances in physical refining to reduce the use of chemicals in the oil refining process.
Last month, Calyxt announced an agreement with American Natural Processors (ANP), a leading provider of innovative non-GMO and organic processing of oils, flours and meals, to crush Calyxt’s high-oleic soybean variety and produce the Company’s high-oleic soybean oil. Additionally, in mid-2015, Calyxt received a letter from the United States Department of Agriculture (USDA) confirming that the Company’s high-oleic soybean variety is non-regulated, as the product contains no foreign DNA.