Casterra Announces New Agreements with Seed Producers in Brazil and Africa to Meet Growing Demand for its Elite Castor Seed Varieties

The new agreements are expected to support additional production of approximately 400 tons of Casterra's elite castor seeds in 2024 and establish long-term production infrastructure

REHOVOT, Israel, March 5, 2024 /PRNewswire/ -- Casterra Ag Ltd., an integrated solutions company for growing castor seeds for bio-based industries, such as biofuels, biopolymers, and a subsidiary of Evogen Ltd. (Nasdaq: EVGN) (TASE: EVGN), is taking significant steps to strengthen its castor production capabilities. The company recently signed strategic agreements with existing and new seed producers in Brazil and Africa to increase its production capabilities of high-yielding, high-oil castor seeds.

 

These agreements are expected to add approximately 400 tons in 2024 and establish long-term production infrastructure. Expanding the number of seed producers in various geographies with whom the company currently works is expected to lower production risks.

Casterra's high-yield castor seed varieties, developed with Evogene's GeneRator AI tech-engine, are rigorously tested to meet industry standards. They are distinguished by exceptional cleanliness, successful phytosanitary test results, and an exceptional germination rate of ~90%, exceeding industry benchmarks.

Mr. Yoash Zohar, CEO of Casterra, emphasizes: "These agreements strengthen our supply chain and mark a strategic change towards diversifying our production sources. Ensuring a reliable and sustainable supply of castor seeds is crucial in meeting the evolving demands of our customers while contributing positively to local economies. Casterra intends to continue to seek additional seed producers to engage with in 2024, to support ongoing seed production."

About Casterra Ag Ltd.:

Casterra is 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 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 Casterra's ability to increase its seed production capabilities by 400 tons in 2024, Casterra's ability to meet the demand for its castor seeds and Casterra's ability to find additional seed producers to engage with in 2024. Such statements are based on current expectations, estimates, projections, and assumptions, describe opinions about future events, and involve certain risks and uncertainties that 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, the current war between Israel and Hamas and any worsening of the situation in Israel such as further mobilizations or escalation in the northern border of Israel and those risk factors contained in Evogene's reports filed with applicable securities authorities. In addition, Evogene and its subsidiaries rely, and expect to continue to rely, on third parties to conduct certain activities, such as their field-trials and pre-clinical studies, and if these third parties do not successfully carry out their contractual duties, comply with regulatory requirements or meet expected deadlines, Evogene and its subsidiaries may experience significant delays in the conduct of their activities. 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.

Contact
Rachel Pomerantz Gerber
Head of Investor Relations at Evogene
rachel.pomerantz@evogene.com
Tel: +972-8-931190

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SOURCE Casterra Ag Ltd.