Yield10 Bioscience, Inc.

Welcome to the second quarter 2022 financial results and business update conference call for yield 10 bioscience. During this call participants will be in a listen only mode. Excuse me. The presenters will address questions from the analysts today. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, YIELD 10 Vice President of Planning and Corporate Communications, Lynne Brum. Thank you. You may begin.

Lynne Brum Thank you, Rob, and good afternoon, everyone. Welcome to the YIELD 10 Bioscience Second Quarter 2022 Conference Call. Joining me on the call today are President and CEO, Dr. Ollie Peoples, Vice President of Research and Chief Science Officer, Dr. Christy Snell, and Chief Accounting Officer, Chuck Hazzard. Earlier this afternoon, Yield10 issued our second quarter 2022 financial results. This press release as well as slides accompanying today's presentation are available on the investor relations events section of our website at yield10bio.com. Let's now turn to slide two. Please note that as part of today's discussion, management will make 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 filing with the SEC. 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 turn the call over to Ali.

Thanks, Lynn. Good afternoon, everyone, and thanks for joining our call. As 2022 is progressing, we're making solid progress executing our commercial plan to launch camelina as a platform crop with a near-term focus on the biofuel feedstock market. Today, we'll provide an update on our recent accomplishments as well as provide an update on our market development efforts to contract 1,000 acres for winter grain production. We'll also provide an update on our spring field trials with a focus on our herbicide tolerance studies review key drivers in the biofuel free stock oil market, present the second quarter financials, and summarize key milestones. We will then open the call to questions. Let's talk to slide three, Yield 10's crop innovation platform. Our innovation platform, the Trade Factory, is centered around the oilseed camelina to increase carbon capture and direct increased carbon to the seed to produce decarbonizing seed products. We are currently working to establish Camelina as a new platform crop to produce low-carbon folium replacements and food products. Let's turn to slide four, Yieldtown's business model. Our business model is to provide farmers with a new growing opportunity by building elite Camelina varieties to produce seed products for new markets. Central to our plan is to develop elite Camelina seed varieties, contract production of Camelina grain with farmers, and supply customers in the renewables and food space under offtake agreements. With our current elite varieties progressing towards commercialization and our two proprietary value-added camelina seed product traits in development, we are positioned to establish and grow a large seed products business. Our lead product is low-carbon feedstock oil to meet increased demand from the biofuel sector. Here, we are in the early commercial stage and working steadily on partner outreach to secure offtake agreements. We believe this will be followed by the launch of omega-3 camelina to produce omega-3 oils for nutrition, and PHA bioplastic camelina to supply the growing demand for biodegradable zero waste plastic packaging. Combined, these products represent a significant revenue opportunity. Let's now turn to slide five, advancing the business. We're making solid progress executing our plan to launch our camelina seed products business. Our commercial team is engaging with potential supply chain partners to form alliances that will support our capital light business model and reaching out to growers for contract planting for winter 2022-2023. This fall, we plan to contract more than 1,000 acres of grain production in areas of southern Canada and the northwest regions of the U.S. We're also wrapping up quality seed production in the winter season in the U.S. and Canada, as well as in contra-season for our spring varieties for future grain production contracts. As we build our business around Campbellina, our research team has done an outstanding job progressing new seed varieties and a strong pipeline of traits. In 2022, we had an intensive effort underway field testing herbicide tolerance and downy mildew resistance traits. As Christie will describe today, we remain on track to achieve the very important milestone towards selecting herbicide-tolerant spring camelina lines for seed scale-up and future commercialization. Our winter field program is reaching a successful conclusion. with a 17-acre field in Saskatchewan planted last fall scheduled to be harvested next week. The 21-22 program is expected to provide us with important data on winter and spring varieties drawn in a range of geographies, as well as seed for additional seed production over this upcoming winter. Our extensive spring field test program is nearing harvest in the U.S. and Canada, which will allow us to generate further proof points on our traits and identify new camelina lines for commercial development. I will now pass the call over to Christy.