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
06 March 2024, Israel: 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.”
