EMERYVILLE, Calif. & SÃO PAULO--(BUSINESS WIRE)-- Amyris, Inc. (NASDAQ:AMRS), a leading renewable chemicals and fuels company, and ETH Bioenergia, a leading producer of ethanol, electric energy and sugar controlled by Odebrecht S.A., announced today that they have signed a memorandum of understanding for the formation of a joint venture to produce Biofene®, Amyris’s renewable farnesene.
Under the agreement, the joint venture would be able to access up to two million tons of sugarcane crush capacity per year at one of ETH’s greenfield mills in Brazil. The joint venture will be controlled by ETH, and Amyris will have exclusive marketing rights for the Biofene produced at the facility. By leveraging ETH’s renowned skills on biomass production and industrial performance and Amyris’s technology, the parties expect to be able to begin production by 2014.
“ETH has been at the leading edge of sugarcane ethanol production in Brazil and now, with our technology, Amyris will be able to market renewable products made from Biofene produced at one of ETH’s new mills,” said John Melo, CEO of Amyris. “Through this joint venture with ETH, and other agreements already announced in Brazil, Amyris now has access to 15 million tons of sugarcane crush capacity for our production.”
“Innovation is at the core of ETH´s strategy. ETH is committed to becoming a leader in the production of sugarcane-based renewable fuels, and Amyris brings a technology platform and the marketing channels to create value to ETH’s value-chain in Brazil,” said José Carlos Grubisich, CEO of ETH Bioenergia. “ETH is firmly committed to expanding the production of ethanol and high value-added products from sugarcane, combining competitiveness and sustainability.”
ETH generates clean and renewable energy through its nine state-of-the-art units and constantly invests in research to increase its productivity and develop new applications for ethanol and sugarcane-based products. The company has invested R$ 6 billion and is committed to investing an additional R$ 2 billion, taking all its units to their maximum production capacity, generating 3 billion liters of ethanol and 2,700 GWh of electric energy by 2013.
The joint venture with ETH represents Amyris’s sixth production agreement at locations spanning three continents. Amyris is scaling its Biofene production in Brazil, Europe and the United States through various production arrangements.
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 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.
About ETH Bioenergia
Controlled by Odebrecht, ETH Bioenergia produces and commercializes sugarcane ethanol and electricity from biomass. With investments of over R$ 8 billion (over $4.5 billion dollars), ETH is a leading producer in bioenergy, with annual production to reach 3 billion liters of ethanol and 2,700 GWh in cogeneration from sugarcane by 2013. The Company has established five production clusters, located in the Brazilian states of São Paulo, Mato Grosso, Mato Grosso do Sul, and Goiás. More information about ETH is available at www.eth.com.
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 the production commencement date) 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 and quarterly reports on Form 10-Q filed on May 11, 2011 and August 11, 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.
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