EMERYVILLE, Calif.--(BUSINESS WIRE)--Amyris, Inc. (NASDAQ:AMRS) announced today that it has entered into a manufacturing agreement with Paraíso Bioenergia S.A., a renewable energy company producing sugar, ethanol and electricity headquartered in São Paulo State, Brazil. Under the agreement, Amyris will construct fermentation and separation capacity to produce Amyris products and Paraíso will supply sugar cane juice and other utilities; Amyris will retain the full economic benefits enabled by the sale of Amyris renewable products over the lower of sugar or ethanol alternatives.
The new production facility will be designed to process juice from up to one million tons of cane annually. By leveraging Paraíso’s infrastructure and feedstock, Amyris expects to be able to begin production at the location in 2012.
“With our success to date in running our technology at industrial scale, we are now able to enter into a broader range of production arrangements to support commercialization of our products,” said John Melo, CEO of Amyris. “Our agreement with Paraíso, an established and respected cane processor, gives us another springboard to move quickly to commercial scale production.”
“Paraíso is increasingly looking to diversify the uses of sugar cane,” said Dario Gaeta, CEO of Paraíso. “Amyris’s facility emphasizes Paraíso's leadership in leveraging new technologies.”
The Paraíso-based operation represents Amyris’s fifth production agreement at locations spanning three continents. Amyris expects to begin contract manufacturing production this year in Brazil at Biomin GMBH, in the U.S. with Tate & Lyle Ingredients Americas, Inc., an affiliate of Tate & Lyle PLC and in Spain with Antibióticos. In 2012, Amyris expects to commence production at Paraíso and SMA Indústria Química S.A., Amyris’s joint venture with Grupo São Martinho. Amyris plans to produce Biofene™, Amyris’s renewable farnesene, at these facilities and then sell the farnesene directly to industrial customers or chemically finish it into a range of final products. Currently, Amyris is performing finishing under an agreement with Glycotech, Inc.
About Amyris, Inc.
Amyris is an integrated renewable products company focused on providing sustainable alternatives to a broad range of petroleum-sourced products. Amyris uses its industrial synthetic biology platform to convert plant sugars into a variety of hydrocarbon molecules - flexible building blocks which can be used in a wide range of products. Amyris is commercializing these products both as No Compromise® renewable ingredients in cosmetics, flavors and fragrances, polymers, lubricants and consumer products, and also as No Compromise renewable diesel and jet fuel. Amyris Brasil S.A., a subsidiary of Amyris, oversees the establishment and expansion of Amyris's production in Brazil. Amyris also has fuel distribution capabilities in the United States through its subsidiary, Amyris Fuels, LLC. More information about Amyris is available at www.amyris.com.
About Paraíso Bioenergia
Paraíso is a renewable energy company producing sugar, ethanol and electricity from sugar cane. It is located in the middle of São Paulo State, Brazil, near the Paulinia fuel distribution center and Santos harbor. Paraíso has more than 2,200 employees with professional management and strong corporate governance. Main shareholders include the Albuquerque Pinheiro Family Holding and DGF - FIP Terra Viva Fund, representing investors such as BNDESPar and FINEP, as well as some of Brazil’s largest pension funds (Fachesf, Petros – the Petrobras Pension Fund –and Funcef, among others).
Forward-Looking Statements
This release contains forward-looking statements, and any statements other than statements of historical facts could be deemed to be forward-looking statements. These forward-looking statements include, among other things, statements regarding future events (such as statements regarding construction plans for a manufacturing facility, manufacturing capacity, timing of commencement of production at a planned manufacturing facility, and plans for commercialization and sales of products) that involve risks and uncertainties. These statements are based on management’s current expectations and actual results and future events may differ materially due to risks and uncertainties, including those associated with any delays or failures in development, production or commercialization of products, our reliance on third parties to achieve our goals, and other risks detailed in the “Risk Factors” section of Amyris’s annual report on Form 10-K filed on March 14, 2011. Amyris disclaims any obligation to update information contained in these forward-looking statements whether as a result of new information, future events, or otherwise.
Amyris, Biofene and No Compromise are trademarks or registered trademarks of Amyris, Inc.