January 26, 2011

Saskatchewan Ministry of Agriculture Awards Research Funding to Metabolix Oilseeds, Inc.

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.

Schwartz Communications
Keith Giannini or Jen Barlow
James Palczynski, 203-682-8229

Source: Metabolix, Inc.

News Provided by Acquire Media

Close window | Back to top

Copyright 2017 Yield10 Bioscience, Inc.