Research Funding Will Help Company's Continued Research of Oilseed
Crops as a Sustainable Alternative to Petroleum
SASKATOON, SK--(BUSINESS WIRE)--
Metabolix,
Inc. (NASDAQ: MBLX), a bioscience company focused on developing
clean, sustainable solutions for plastics, chemicals and energy, today
announced its wholly owned subsidiary, Metabolix Oilseeds, Inc., has
been awarded $203,000 in research funding by the Saskatchewan Ministry
of Agriculture through its Agriculture Development Fund (ADF). The
company will use the funding to accelerate its ongoing research and
development of oilseed crops, specifically Camelina sativa, as a
potential source for bioplastics and other petroleum substitutes.
Metabolix Oilseeds continues to research Camelina's potential as a
sustainable energy feedstock. Camelina offers several unique
agricultural advantages including its ability to thrive on marginal,
non-irrigated land and its limited culinary use, which separates
Camelina from the food chain. Camelina is a very good candidate as a
production vehicle for PHA polymers, and Metabolix Oilseeds has produced
PHA polymers in the oil seed itself. This funding will help to support
the company's research and development into very low cost production
sources for PHA polymers.
"Saskatchewan recognizes its competitive advantage in a variety of oil
seed crops," said Saskatchewan Agriculture Minister Bob Bjornerud. "This
research funding will help create further opportunities for producers
and advance our agriculture industry."
"The award is yet another example of the positive support that we have
received from the Canadian and Saskatchewan governments for crop
research and development in Saskatchewan," said Johan van Walsem,
president of Metabolix Oilseeds, Inc. "We will use this generous funding
for the evaluation of an advanced gene expression system in Camelina
which has the potential to accelerate the development of commercial
bioplastic production."
ADF provides funding to help institutions, companies and industry
organizations conduct research, development and value-added activities
that will benefit Saskatchewan farmers and ranchers. A complete list of
all projects is available at www.agriculture.gov.sk.ca/ADF.
This ADF funding is being provided under the federal-provincial Growing
Forward framework.
About Metabolix Oilseeds Inc. and Metabolix
Metabolix Oilseeds, Inc., with labs and greenhouses located in
Saskatoon, SK, is a wholly owned subsidiary of Metabolix, Inc. Founded
in 1992, Metabolix, Inc. is an innovation-driven bioscience company
focused on providing sustainable solutions for the world's needs for
plastics, chemicals and energy. The Company is taking a systems
approach, from gene to end product, integrating sophisticated
biotechnology with advanced industrial practice. Metabolix is now
developing and commercializing Mirel™, a family of high performance
bioplastics which are biobased and biodegradable alternatives to many
petroleum based plastics. Metabolix is also developing a proprietary
platform technology for co-producing plastics, chemicals and energy,
from crops such as switchgrass, oilseeds and sugarcane.
For more information, please visit www.metabolix.com.
(MBLX-G)
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements which are made
pursuant to the safe harbor provisions of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. The forward-looking statements in this release do
not constitute guarantees of future performance. Investors are cautioned
that statements in this press release which are not strictly historical
statements, including, without limitation, statements regarding
expectations for Metabolix research and development, constitute
forward-looking statements. Such forward-looking statements are subject
to a number of risks and uncertainties that could cause actual results
to differ materially from those anticipated and are detailed in
Metabolix's filings with the Securities and Exchange Commission.
Metabolix assumes no obligation to update any forward-looking
information contained in this press release or with respect to the
announcements described herein.
Media:
Schwartz Communications
Keith Giannini or Jen Barlow
781-684-0770
metabolix@schwartzcomm.com
or
Investors:
ICR
James
Palczynski, 203-682-8229
james.palczynski@icrinc.com
Source: Metabolix, Inc.
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