This first shipment, valued at approximately US$1 million, is part of a framework agreement
with a world-leading oil and gas company
REHOVOT, Israel, Sept. 27,
2023 /PRNewswire/ -- Casterra Ag Ltd.
("Casterra"), an integrated castor cultivation solution company and
a subsidiary of Evogene Ltd. ("Evogene") (Nasdaq: EVGN)
(TASE: EVGN), today announced the shipment of its first batch of
high-yield, high-oil castor seeds from Brazil and Zambia to its destination in Africa. This shipment, valued at US$1 million, is the first step in meeting
US$11.3M purchase orders from a
world-leading oil and gas company, which Casterra received in the
second quarter of 2023.
Casterra's premium castor seeds are developed using Evogene's
GeneRator AI tech-engine and undergo rigorous testing to
meet industry standards. These seeds exhibit high-level
cleanliness, successfully passed phytosanitary inspection, and have
a germination percentage rate of 90%, exceeding the industry
acceptance criteria benchmark.
Casterra CEO Eyal
Ronen said: "We are pleased to initiate shipments
under this framework agreement with a leading oil and gas company,
demonstrating the feasibility of shipping large amounts of seeds,
even across continents. Casterra anticipates it will supply the
remainder of these seed's orders in the coming months."
About Casterra Ag Ltd.:
Casterra is
engaged in developing and commercializing high-yielding castor bean
seeds as a cost-competitive, sustainable, second-generation
feedstock for the growing biofuel market.
It has built its castor genetic assets based on a broad collection
of over 300 castor lines from over 40 different geographic and
climatic regions. As part of its development process,
Casterra applies advanced breeding methods
utilizing Evogene's GeneRator AI
tech-engine, enabling the use of cutting-edge plant
genomics tools and
agro-technique expertise to enable efficient and
sustainable industrial-scale production of the castor
bean.
For more information, please visit http://www.casterra.co
About Evogene Ltd.:
Evogene (Nasdaq: EVGN) (TASE:
EVGN) is a computational biology company aiming to revolutionize
the development of life-science-based products by utilizing
cutting-edge technologies to increase the probability of success
while reducing development time and cost. Evogene established three
unique tech-engines - MicroBoost AI, ChemPass AI, and
GeneRator AI – leveraging Big Data and Artificial
Intelligence and incorporating deep multidisciplinary understanding
in life sciences. Each tech-engine is focused on the discovery and
development of products based on one of the following core
components: microbes (MicroBoost AI), small molecules
(ChemPass AI), and genetic elements (GeneRator
AI).
Evogene uses its tech-engines to develop products through
subsidiaries and strategic partnerships. Evogene's subsidiaries
currently utilize the tech-engines to develop human
microbiome-based therapeutics by Biomica, ag-biologicals by
Lavie Bio, ag-chemicals by AgPlenus,
medical cannabis products by Canonic and castor varieties, for the
biofuel and other industries, by Casterra.
For more information, please visit www.evogene.com
Forward-Looking Statements:
This press
release contains "forward-looking statements" relating to future
events. These statements may be identified by words such as "will",
"may", "could", "expects", "intends", "anticipates", "plans",
"believes", "scheduled", "estimates", "demonstrates", or words of
similar meaning. For example, Evogene and Casterra are using
forward-looking statements in this press release when they discuss
the expected timing of delivery of Casterra's seeds and meeting the
$11.3M purchase orders from a
world-leading oil and gas company. Such statements are based on
current expectations, estimates, projections and assumptions,
describe opinions about future events, and involve certain risks
and uncertainties which are difficult to predict and are not
guarantees of future performance. Therefore, actual future results,
performance or achievements of Evogene and its subsidiaries may
differ materially from what is expressed or implied by such
forward-looking statements due to a variety of factors, many of
which are beyond the control of Evogene and its subsidiaries,
including, without limitation, those risk factors contained in
Evogene's reports filed with applicable securities authorities.
Evogene and its subsidiaries disclaim any obligation or commitment
to update these forward-looking statements to reflect future events
or developments or changes in expectations, estimates, projections,
and assumptions.
Contacts
Rachel Pomerantz Gerber
Head of Investor Relations at Evogene
rachel.pomerantz@evogene.com
Tel: +972-8-9311901
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SOURCE Casterra Ag Ltd.