(AMRS) Meets Major Milestone at Its Farnesene Production Facility
Amyris CEO to Speak at Advanced Biofuels Leadership Conference on Strong Performance of Amyris’s Renewable Hydrocarbon Production in Brazil
EMERYVILLE, Calif., Oct. 11, 2013 — Amyris, Inc. (Nasdaq:AMRS), a leading renewable chemicals and fuels company, announced that its farnesene plant in Brazil has achieved the production run rate of 1 million liters over a 45-day period. Amyris’s Chief Executive Officer John Melo will speak later today at the Advanced Biofuels Leadership Conference (ABLCNext) today in San Francisco, California.
“Our farnesene plant in Brazil is operating well, meeting our technology, volumetric and cost targets. With all six fermentors running as planned and with our ongoing production rate, we are on track to achieve our year-end cost targets. Our plant at Brotas is expected to produce more farnesene this year than we produced in our entire prior contract manufacturing operations combined. All told, we have surpassed the 5 million liter production mark,” said John Melo in his prepared remarks.
“More importantly, we are growing the market with new, innovative products. Using a blend of renewable diesel, public transit buses in Brazil’s largest cities have logged well over 15 million miles, improving performance while reducing emissions. Our cosmetics business has grown over 80% year-on-year following the introduction of Neossance® Squalane, our renewable version of this premium emollient,” Amyris’s CEO added.
The Amyris production facility, located adjacent to the Paraiso sugarcane mill in Brotas, Sao Paulo in Brazil, began commercial operations at the beginning of 2013 and had all six fermentors running in July to align with commercial volume needs. Amyris’s farnesene is a renewable hydrocarbon molecule addressing growing demand in a broad range of applications, from diesel and jet fuel to high-performance materials.
ADDITIONAL FUNDING RECEIVED
Amyris’s CEO also noted the Company’s successful efforts to secure financing saying, “As we announced earlier this week, we received a $35 million loan to provide bridge financing until the closing of the first tranche of our pending convertible note financing, which we expect in the coming weeks.”
“By producing 1 million liters of farnesene in a 45-day period, we have surpassed the production performance milestones under the purchase agreement for the financing and are on track to meet the remaining milestones,” Melo concluded.
In August 2013, Amyris entered into an agreement for a private placement of senior convertible promissory notes for approximately $60 million in cash proceeds. Two of Amyris’s leading stockholders committed to purchase the notes in two tranches. By achieving 1 million liters of production in a 45-day period, Amyris satisfied one of the two conditions required to avoid a reduction in the conversion price of the first-tranche notes (the other being a target for gross margins from product sales) and one of the key closing conditions for the second tranche. Additional information regarding the terms of the financing, including detailed discussion of the triggers for conversion price adjustments and additional closing conditions, is provided in Amyris’s regulatory filings.
ONLINE WEBCAST
Amyris is participating in the Advanced Biofuels Leadership Conference taking place from October 9-11 in San Francisco.
Amyris’s CEO John Melo will make a presentation at 9:45 AM PT (12:45 PM ET) on Friday, October 11 at the Intercontinental Hotel in San Francisco regarding the Company’s performance. The remarks will be webcast on Amyris’s Investor Relations website at http://investors.amyris.com.
A replay of the webcast will be available in the Investor Relations section of the Company’s website approximately two hours after the conclusion of the event and will remain available for approximately 60 calendar days.
About Amyris
Amyris (Nasdaq:AMRS) 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 that 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 Ltda., 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.
Amyris 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 achieving production cost and volume targets and closing of a pending financing) 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, liquidity and ability to fund capital expenditures, Amyris’s reliance on third parties to achieve its goals, and other risks detailed in the “Risk Factors” section of Amyris’s Form 10-Q, as filed on August 9, 2013. 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, the Amyris logo and No Compromise are trademarks or registered trademarks of Amyris, Inc.
CONTACT: Amyris, Inc. Joel Velasco (510) 740-7481 investor@amyris.com
TraderPower Featured Companies
Top Small Cap Market News
- $SOBR InvestorNewsBreaks – SOBR Safe Inc. (NASDAQ: SOBR) Closes on $8.2M Private Placement
- $CLNN InvestorNewsBreaks – Clene Inc. (NASDAQ: CLNN) Announces Participation at Two Upcoming Investor Conferences
- $ATBHF Aston Bay Holdings Ltd. (TSX.V: BAY) (OTCQB: ATBHF) Releases Updated Report on Storm Copper Project Drilling Program
- $LGVN InvestorNewsBreaks – Longeveron Inc. (NASDAQ: LGVN) to Present at This Month’s Congenital Heart Surgeons’ Society Annual Meeting
- $LEXX InvestorNewsBreaks – Lexaria Bioscience Corp. (NASDAQ: LEXX) Begins Subject Dosing in Human Pilot Study #3 Evaluating Oral DehydraTECH-Processed Tirzepatide
- $FSTTF InvestorNewsBreaks – First Tellurium Corp. (CSE: FTEL) (OTC: FSTTF) Shares Additional Information on the PyroDelta Thermoelectric Generator, Relationship with Subsidiary
- $TMET.V Gold Stutters as Strong US Jobs Data Dampens Expectations of Large Rate Cuts
- $RFLXF JPMorgan Executive Says US Backlash Against ESG Is Exaggerated
- $SFWJ InvestorNewsBreaks – Software Effective Solutions Corp. (d/b/a MedCana) (SFWJ) Releases Report on Series of Acquisitions, Multiple Cannabis Licenses
- $EAWD IEA Hosts G20 Ministers, Influential Personalities to Discuss Clean and Affordable Energy Transition
Recent Posts
- $EAWD IEA Hosts G20 Ministers, Influential Personalities to Discuss Clean and Affordable Energy Transition
- $SFWJ InvestorNewsBreaks – Software Effective Solutions Corp. (d/b/a MedCana) (SFWJ) Releases Report on Series of Acquisitions, Multiple Cannabis Licenses
- $RFLXF JPMorgan Executive Says US Backlash Against ESG Is Exaggerated
- $TMET.V Gold Stutters as Strong US Jobs Data Dampens Expectations of Large Rate Cuts
- $FSTTF InvestorNewsBreaks – First Tellurium Corp. (CSE: FTEL) (OTC: FSTTF) Shares Additional Information on the PyroDelta Thermoelectric Generator, Relationship with Subsidiary
- $LEXX InvestorNewsBreaks – Lexaria Bioscience Corp. (NASDAQ: LEXX) Begins Subject Dosing in Human Pilot Study #3 Evaluating Oral DehydraTECH-Processed Tirzepatide
- $LGVN InvestorNewsBreaks – Longeveron Inc. (NASDAQ: LGVN) to Present at This Month’s Congenital Heart Surgeons’ Society Annual Meeting
- $ATBHF Aston Bay Holdings Ltd. (TSX.V: BAY) (OTCQB: ATBHF) Releases Updated Report on Storm Copper Project Drilling Program
Recent Comments
Archives
- October 2024
- January 2023
- June 2022
- December 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- November 2020
- October 2020
- September 2020
- August 2020
- July 2020
- June 2020
- May 2020
- April 2020
- March 2020
- February 2020
- January 2020
- December 2019
- November 2019
- October 2019
- September 2019
- August 2019
- July 2019
- June 2019
- May 2019
- April 2019
- March 2019
- February 2019
- January 2019
- December 2018
- November 2018
- October 2018
- September 2018
- August 2018
- July 2018
- June 2018
- May 2018
- April 2018
- March 2018
- February 2018
- January 2018
- December 2017
- November 2017
- October 2017
- September 2017
- August 2017
- July 2017
- June 2017
- May 2017
- April 2017
- March 2017
- February 2017
- January 2017
- December 2016
- November 2016
- October 2016
- September 2016
- August 2016
- July 2016
- June 2016
- May 2016
- April 2016
- March 2016
- February 2016
- January 2016
- December 2015
- November 2015
- October 2015
- September 2015
- August 2015
- July 2015
- June 2015
- May 2015
- April 2015
- March 2015
- February 2015
- January 2015
- December 2014
- November 2014
- October 2014
- September 2014
- August 2014
- July 2014
- June 2014
- May 2014
- April 2014
- March 2014
- February 2014
- January 2014
- December 2013
- November 2013
- October 2013
- September 2013
- August 2013
- July 2013
- June 2013
- May 2013
- April 2013
- March 2013
- February 2013
- January 2013
- December 2012
- November 2012
- October 2012
- September 2012
- August 2012
- July 2012
- June 2012
- May 2012
- April 2012
- March 2012
- February 2012
- January 2012
- December 2011
- November 2011
- October 2011
- September 2011
- August 2011
- July 2011
- June 2011
- May 2011
- April 2011
- March 2011
- February 2011
- January 2011
- December 2010
- November 2010
- October 2010
- September 2010
- August 2010
- July 2010
- June 2010
- May 2010
- April 2010
- March 2010
- February 2010
- January 2010
- December 2009
- November 2009
- October 2009
- September 2009
- August 2009
- July 2009
- June 2009