EMERYVILLE, Calif., Dec. 27, 2012 (GLOBE NEWSWIRE) -- Amyris, Inc. (Nasdaq:AMRS), a leading renewable chemicals and fuels company, today announced it has completed a $42.25 million private placement of its common stock. In addition, Amyris announced its purpose-built industrial fermentation facility in Brazil has successfully begun production of Biofene, Amyris's brand of renewable farnesene.
"We are encouraged by the continued, strong commitment from our major investors, particularly as we start up our new industrial fermentation facility for the production of our renewable hydrocarbons in Brazil," said John Melo, Amyris President & CEO.
"Our own farnesene plant at Paraiso has been successfully commissioned, with initial farnesene production underway. We anticipate sales from this facility during the first quarter of 2013," Melo concluded.
The Company sold 14,177,849 shares of common stock in a private placement to existing Amyris investors. The transaction included $37.25 million in cash proceeds and the conversion by Total Gas & Power USA, SAS of $5 million from an outstanding senior unsecured convertible promissory note. Additional details will be provided in the Company's upcoming SEC filings.
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's initial portfolio of commercial products is based on Biofene®, Amyris's brand of renewable farnesene, a long-chain hydrocarbon. 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. More information about Amyris is available at www.amyris.com.
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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 commercial sales of Biofene from a production facility and the prospects for Amyris technology) 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 quarterly report on Form 10-Q filed on November 9, 2012. 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.
Media and Investor Relations Joel Velasco +1 (510) 597-5577 email@example.com