Yield10 Bioscience, Inc.

Welcome to the fourth quarter and full year 2021 financial results and business update conference call for YIELD 10 Bioscience. During the call, participants will be in listen-only mode. The presenters will address questions from analysts today. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference call is being recorded. I would now like to turn the conference call over to your host, YIELD 10 Vice President of Planning and Corporate Communications, Lynn Brum.

Thank you, Alex, and good afternoon, everyone. Welcome to YIELD 10 Bioscience fourth quarter and full year 2021 conference call. Joining me on the call today are President and CEO, Dr. Oliver Peoples, Vice President of Research and Chief Science Officer, Dr. Christy Snell, and Chief Accounting Officer, Chuck Hazzor. Earlier this afternoon, YIELD 10 issued our fourth quarter and full year 2021 financial results. This press release, as well as slides that accompany today's presentation, are available on the investor relations events section of our website at yield10bio.com. Let's turn to slide two. Please note, as part of our discussion today, management will be making forward-looking statements. These statements are not guarantees of future performance, and therefore, you should not place undue reliance on them. Investors are also cautioned that statements that are not strictly historical constitute forward-looking statements, and such forward-looking statements are subject to a number of risks and uncertainties that could cause the actual results to differ materially from those anticipated. These risks include risks and uncertainties detailed in Yield 10's filings with the SEC, and the company undertakes no obligation to update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this conference call. And with that, I'll now turn the call over to Ali.

Thanks, Lynn. Good afternoon, everyone, and thanks for joining our call. In 2021, we executed against our strategic plan to establish Camelina as a new platform crop for the production of low-carbon petroleum replacements and food products. We made key hires, conducted field tests, and seed scale-up of various Camelina lines, and made other advances that create significant momentum going into 2022. Today, we'll provide an update on our recent accomplishments, including our 2021 field tests, as well as review our target markets with an emphasis on biofuel-free stock oil, present the fourth quarter at year-end financials, and summarize key milestones. We'll then open the call to questions. Let's turn to slide three. Our innovation platform, the Trade Factory, is centered around the oilseed camelina, the crop we plan to establish as a platform crop for the production of low-carbon petroleum replacements. Good products. We use our Trade Factory approach, applying the principles of synthetic biology to improve the performance of the crop and produce new seed products. This includes fixing more CO2 from the air to increase seed yield and oil content in the near term, and producing high-value proprietary seed products in the future. We believe that some of our varieties may also have the potential to sequester more carbon in the soil, as shown on the slide. Let's turn to slide four. We have significant momentum entering 2022. We've transitioned by identifying the Camelina lines that will enable us to turn our focus to early commercial activities to supply low carbon feedstock oil to the biofuel market. Our commercial team is engaging with potential supply chain partners to form alliances that will support our capital light business model. In January, we welcomed Darren Greenfield to our team to lead seed operations. Darren has more than 25 years' experience in canola with companies including VSF, Tau AgroScience, and SEBIS. Our commercial team is reaching out to growers for contract planting in 2022, establishing seed inventory and management systems to enable commercial seed supply, and planning for plant variety registrations and branding to support product launch. As we build our business around camelina, our research team has done an outstanding job developing our differentiated elite camelina lines to launch the business and a portfolio of novel gene traits. In late 2020, we began an intensive effort to deploy well-established herbicide tolerance traits and downy mildew resistance into camelina. Over the next year or so, the current varieties will be further enhanced by introducing these gene traits and other traits to create new varieties offering benefits to farmers and increased seed product revenue. In 2021, we continued developing and scaling up winter varieties as part of our strategy to access large acreage in the off-season when the land would lie fallow, so there will be no competition with soy and canola. We view establishing Camelina as a high-value winter cash cover crop as a key strategic goal for Yotam for biofuels in the near term and for the two new seed products in development, PHA bioplastics and omega-3 oils. Given the near-term commercial focus on biofuel food stock, we prioritized research efforts around oil content-boosting traits, many discovered using our grain platform. And we've recently reported data generated in our 2021 spring field tests and provided updates on our Cambogia programs, including early commercial activities in the biofuel space and progressing the PHA bioplastic trait. For more on our 2021 field test results, I'll pass the call over to Christy.