EMERYVILLE, Calif., March 21, 2013 (GLOBE NEWSWIRE) -- Amyris, Inc. (Nasdaq:AMRS), a leading renewable chemicals and fuels company, welcomed the announcement that Tonon Bioenergia, a Brazilian agro-industrial group with growing investments in the sugarcane industry, has signed a contract to acquire the Paraiso Bioenergia sugarcane mill, which supplies feedstock to Amyris's farnesene production unit in Brotas, Brazil.
"Tonon Group's proposed acquisition of the sugarcane feedstock supplier of our Biofene® plant underscores the confidence in our business model and our ability to add value to the Brazilian sugarcane industry with renewable fuels and chemicals," said Paulo Diniz, President of Amyris Brasil. "While this change of control does not affect our operations in Brotas, we are pleased with the financial strength and growth strategy of the Tonon Group as well as their ability to secure additional sugarcane syrup to support our growth," Diniz added.
"Amyris's successful operations and strategic relationship were important factors in our decision to acquire the Paraiso sugarcane mill," said Rodrigo Aguiar, Chief Executive Officer of Tonon Bioenergia. "This acquisition represents an important element of Tonon's growth strategy, building on our two existing sugarcane mills in Brazil," Aguiar concluded.
In December 2012, Amyris successfully began production of Biofene, Amyris's brand of renewable farnesene, a long-chain branched hydrocarbon, at its Brotas facility. Product shipments from the Brotas plants began in late January and have continued according to plan.
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.
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 Tonon Group's completion of an acquisition of the Paraíso Bioenergia sugarcane mill, prospects for and growth of Amyris's production plant at Brotas, and the ability to secure additional sugarcane syrup) 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. This press release also contains trademarks of other businesses that are the property of their respective owners.