REHOVOT, Israel - Casterra Ag Ltd., a subsidiary of Evogene Ltd . (NASDAQ:EVGN) (TASE:EVGN), has entered into new agreements with seed producers in Africa, aiming to enhance its production of high-yielding castor seeds.
The company, specializing in castor cultivation for bio-based applications such as biofuels and biopolymers, anticipates these agreements to add approximately 500 tons to its seed supply, complementing an earlier announcement in February of an additional 400 tons.
These strategic partnerships, formed with both existing and new producers, are designed to ensure the completion of Casterra's 2023 orders by the end of 2024. Moreover, the increased production capacity is expected to position Casterra to meet future demands in the biofuel industry.
Casterra's CEO, Mr. Yoash Zohar, highlighted the importance of these agreements in strengthening the company's production capabilities and maintaining a reliable seed production infrastructure. By expanding partnerships, Casterra aims to proactively address the dynamic needs of global markets and mitigate potential production risks.
The company's elite castor varieties are developed using Evogene's 'GeneRator AI' technology, which applies advanced plant genomics tools and agro-technique expertise to produce castor beans efficiently and sustainably. This development process is part of Casterra's broader strategy to establish itself as a leader in the commercial cultivation of castor plants for industrial-scale biofuel production.
Evogene, Casterra's parent company, is a computational biology firm that leverages artificial intelligence and big data to enhance the development of life-science-based products, including for its subsidiaries like Casterra.
This press release contains forward-looking statements regarding Casterra's ability to fulfill existing and future orders. These statements are based on current expectations and projections and involve risks and uncertainties that could cause actual results to differ materially.
The information provided is based on a press release statement from Casterra Ag Ltd.
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