Scientists can now grow wood in a lab without cutting a single tree (interestingengineering.com)

This is the submission from two days ago of the MIT stuff the article is largely about: https://news.ycombinator.com/item?id=31537071

Can somebody confirm my understanding? They're able to grow plant cells in a mold (e.g. a chair) then after the cells mature, remove the mold and have a solid piece of material that is basically wood?