Yield10 Bioscience Inc YTEN shares are trading higher Thursday after the company signed a Memorandum of Understanding (MOU) with American Airlines Inc AAL.
What To Know: The two companies will collaborate in developing the value chain for Camelina as a low-carbon feedstock oil for sustainable aviation fuel (SAF). Camelina is an annual oilseed plant in the mustard family that is native to Europe.
American noted that it's committed to helping to scale SAF production as part of its climate strategy. Yield10 and American plan to work together to support development.
Under the MOU, the companies could potentially secure offtake agreements for Camelina oil-based SAF for use in the commercial airline business. The companies also plan to work together to support applications for government grants.
"SAF made from feedstocks that maximize carbon reduction is critical to our climate goals. We believe cover crops, like the Camelina varieties that Yield10 is working on, could play a significant role in helping us decarbonize," said Jill Blickstein, American's vice president of sustainability.
See Also: Best Airline Stocks Right Now
YTEN Price Action: Yield10 has a 52-week high of $7.21 and a 52-week low of $1.63.
The stock was up 17.2% at $3.14 at time of publication, according to Benzinga Pro.
Photo: courtesy of Yield10.
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