Calyxt Signs Agreement with American Natural Processors to Crush and Process its High-Oleic Soybeans
Calyxt Advances Toward Commercialization of Its High Oleic Soybean Oil for Consumers
Minneapolis-St. Paul, Minn. – September 27, 2018 – Calyxt, Inc. (NASDAQ: CLXT) a consumer-centric, food- and agriculture-focused Company, announced today 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, its first product expected to hit the market in late 2018 / early 2019.
“With this collaboration, Calyxt has taken an important step toward the commercialization of our high-oleic soybean oil by contracting with a processor with a strong track record of food quality and safety, and that is committed to the non-gmo and organic industries,” said Manoj Sahoo, Calyxt Chief Commercial Officer. “We consider ourselves to be stewards of the land, producing foods that are not only nutritionally rich and cost-effective but also sustainable and environmentally friendly. After receiving strong interest from farmers and food companies for our first product candidate, we are excited to work with a crusher that shares our objective to impeccable product quality for consumers.”
The high-oleic / low-saturated fat oil from this new variety of soybeans is designed to eliminate the need for hydrogenation, a process that improves heat stability and shelf life of conventional soybean oil. The process of hydrogenation for conventional soybean oil contributes to the production of trans-fatty acids, which, when consumed, raises low-density lipoprotein, or LDL, and cholesterol levels, as well as contributes to cardiovascular diseases. The FDA has declared trans fats not generally recognized as safe (GRAS), and human food must no longer contain partially hydrogenated oils by June 18, 2018. In addition, World Health Organization recently unveiled a plan to remove all trans fats worldwide from the food chain by 2023.
In mid-2015, Calyxt received a letter from the USDA confirming that the Company’s high-oleic soybean variety is non-regulated, as the product contains no foreign DNA.
ANP operates mostly non-GMO soybean processing plants in Cherokee, Iowa, where it has operated for nearly two decades, working with some of the largest consumer packaged goods companies in the U.S