EMERYVILLE, Calif. & SÃO PAULO--()--Amyris, Inc. and Cosan S.A. announced today that they have executed term sheets to establish a joint venture for the worldwide development, production and commercialization of renewable intermediate chemicals for specific industrial and automotive applications.
“Cosan is the largest mill group in Brazil, and we are pleased to add this strategic alliance to expand our commercialization efforts”
Amyris’s synthetic biology platform enables the production of a wide variety of renewable products from sugarcane. Cosan has established product development, manufacturing and marketing capabilities. Under the joint venture, the parties will jointly commercialize the target products throughout the world. The parties expect to complete a definitive agreement later this year.
“Cosan is the largest mill group in Brazil, and we are pleased to add this strategic alliance to expand our commercialization efforts,” said John Melo, chief executive officer of Amyris. “We will be working with Cosan on a focused class of products and expect to benefit greatly from their resources and capabilities.”
"We believe this JV will strengthen Cosan's downstream position in high value add chemicals," said Marcos Lutz, chief executive officer of Cosan. “Amyris’s technology can greatly expand the range and value of products that we can derive from our cane.”
Amyris is building an integrated renewable products company applying industrial synthetic biology to genetically modify microorganisms to serve as living factories. Amyris designs these microorganisms to produce defined molecules for use as renewable chemicals and transportation fuels. Amyris Brasil S.A., a subsidiary of Amyris, oversees the establishment and expansion of Amyris’s production in Brazil, including SMA Indústria Química S.A., its joint venture with Usina São Martinho, one of the largest sugar and ethanol producers in Brazil. In addition, Amyris is building fuels distribution capabilities in the United States through its subsidiary, Amyris Fuels LLC. More information about Amyris and its subsidiaries is available at www.amyris.com or www.amyrisbrasil.com.
Cosan is a fully-integrated company in the sugar, ethanol and energy sectors. With 62 million tons of crushing capacity, Cosan is among the largest producers and processors of sugarcane, sugar and ethanol. The company is also the third largest fuel distributor in Brazil, with license of the Esso and Mobil brands. Cosan is presently in the logistics business through its subsidiary, Rumo Logística, responsible for the logistics of sugar export, and through a participation in TEAS (ethanol port in Santos).
This press release contains forward-looking statements, including quotations from Amyris management and statements relating to Amyris’s expectations regarding a strategic partnership arrangement. You should not place undue reliance on these forward-looking statements because they involve many risks and uncertainties that are, in some cases, beyond our control and that could materially affect actual results. Factors that could materially affect actual results can be found in Amyris’s Registration Statement on Form S-1 dated May 25, 2010, as amended, particularly under the caption "Risk Factors." Amyris expressly disclaims any intent or obligation to update these forward-looking statements except as required by law.