EMERYVILLE, Calif.--()--Amyris, Inc. announced today that it has entered into an off-take agreement with Shell for the supply of Amyris No Compromise® diesel. The parties have agreed to the terms under which Shell may purchase the renewable fuel from Amyris, including pricing relative to a defined biodiesel price index. The companies intend to cooperate to obtain the necessary European approvals for use of this fuel.
Amyris applies industrial synthetic biology to genetically modify microorganisms to serve to produce a broad range of hydrocarbon products, including farnesene. Amyris modifies farnesene to become Amyris diesel. The U.S. Environmental Protection Agency has officially registered Amyris’s renewable diesel fuel at a 20% blend rate, the first time a hydrocarbon-based fuel made from plant-derived resources has been registered for commercial sale. Third-party testing indicates that this fuel, which is blended with petroleum diesel, overcomes a number of the challenges facing current biofuels:
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.
This press release contains forward-looking statements, including statements relating to expected sales under a supply agreement. 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 include the timing of any purchases under our agreement with Shell, and other factors that can be found in the prospectus that is part of Amyris’s most recently filed Registration Statement on Form S-1 dated June 22, 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.