diff --git a/cobra/__init__.py b/cobra/__init__.py
index d211b96ee..f2f548995 100644
--- a/cobra/__init__.py
+++ b/cobra/__init__.py
@@ -13,7 +13,7 @@
     DictList, Gene, Metabolite, Model, Object, Reaction, Species)
 from cobra.util.version_info import show_versions
 
-__version__ = "0.6.2"
+__version__ = "0.7.0"
 
 # set the warning format to be prettier and fit on one line
 _cobra_path = _dirname(_abspath(__file__))
diff --git a/release-notes/0.7.0.md b/release-notes/0.7.0.md
new file mode 100644
index 000000000..aa0a67e1b
--- /dev/null
+++ b/release-notes/0.7.0.md
@@ -0,0 +1,23 @@
+# Release notes for cobrapy 0.7.0
+
+## Fixes
+
+- `cobra.flux_analysis.reaction.assess`
+  [was broken](https://github.com/opencobra/cobrapy/issues/537)
+  following the release of 0.6.0 and has now been fixed (and now with
+  unit tests).
+- `production_envelope` failed when model C-source was formulated as
+  -> x instead of x <-. Fixed added option to guess the C-source by
+  taking the medium reaction with the highest input C flux.
+- `model_to_pymatbridge` needs scipy and that's correctly handled now.
+
+## New features
+- `flux_variability_analysis` now has the `pfba_factor` parameter
+  which enables the inclusion of a constraint on the max sum of
+  absolute fluxes when doing FVA.
+
+## Deprecated features
+
+- `cobra.flux_analysis.reaction.assess_{precursors,products}` were
+  essentially copies of each other and have been merged to
+  `cobra.flux_analysis.reaction.assess_component`
diff --git a/release-notes/next-release.md b/release-notes/next-release.md
index 554dfd629..a5451d7c2 100644
--- a/release-notes/next-release.md
+++ b/release-notes/next-release.md
@@ -2,22 +2,7 @@
 
 ## Fixes
 
-- `cobra.flux_analysis.reaction.assess`
-  [was broken](https://github.com/opencobra/cobrapy/issues/537)
-  following the release of 0.6.0 and has now been fixed (and now with
-  unit tests).
-- `production_envelope` failed when model C-source was formulated as
-  -> x instead of x <-. Fixed added option to guess the C-source by
-  taking the medium reaction with the highest input C flux.
-- `model_to_pymatbridge` needs scipy and that's correctly handled now.
-
 ## New features
-- `flux_variability_analysis` now has the `pfba_factor` parameter
-  which enables the inclusion of a constraint on the max sum of
-  absolute fluxes when doing FVA.
 
 ## Deprecated features
 
-- `cobra.flux_analysis.reaction.assess_{precursors,products}` were
-  essentially copies of each other and have been merged to
-  `cobra.flux_analysis.reaction.assess_component`
diff --git a/setup.cfg b/setup.cfg
index 8c6b82e81..6554b0b37 100644
--- a/setup.cfg
+++ b/setup.cfg
@@ -1,5 +1,5 @@
 [bumpversion]
-current_version = 0.6.2
+current_version = 0.7.0
 commit = True
 tag = True
 parse = (?P<major>\d+)
diff --git a/setup.py b/setup.py
index 851a344e9..db8bafbcc 100644
--- a/setup.py
+++ b/setup.py
@@ -144,7 +144,7 @@ def build_extension(self, ext):
 
 setup(
     name="cobra",
-    version="0.6.2",
+    version="0.7.0",
     packages=find_packages(),
     setup_requires=setup_requirements,
     install_requires=["future", "swiglpk", "optlang>=1.1.5", "ruamel.yaml<0.15",