Amyris and Kuraray Expand Collaboration in Farnesene-Based Polymers
March 31 2014 - 8:00AM
Amyris, Inc. (Nasdaq:AMRS), the leading synthetic biology innovator
and renewable products company, and Kuraray Co., Ltd. (TSE:3405), a
pioneering global chemical products company with a long history of
commercializing a range of resins, fibers, textiles and other
materials, announced today the expansion and extension of their
ongoing collaboration in high performance polymers using Biofene®,
Amyris's brand of renewable farnesene.
"Kuraray has been a strong collaboration partner over the last
two years, and I welcome our expanding work together in developing
and commercializing high performance materials from Biofene," said
John Melo, President & CEO of Amyris. "Based on the positive
feedback from tire manufacturers for Liquid Farnesene Rubber, we
remain confident that Biofene will play a critical role in
improving the sustainability of the tire industry. We are also
encouraged that with Kuraray in Japan we are launching a new
category of elastomers made from Biofene," added Melo.
Under the transaction agreements, the parties have extended the
duration of the research and development portion of their
collaboration for at least two more years. The parties also
reaffirmed their commercialization goals by expanding types of, and
fields of use for, Kuraray polymer products containing Biofene. As
detailed in the agreement, Amyris will receive an undisclosed
amount of collaboration funding over the next two years, and
Kuraray will purchase approximately $4 million of Amyris's common
stock in April of this year.
"Our joint technical progress in the last two years has been
tremendous, and we are optimistic about the commercialization of
farnesene-based polymers with Amyris in the near future and our
expanded ongoing collaboration to new polymer products, including
viscosity index improvers, sealants, and adhesives," said Tomoyuki
Aya, Senior Executive Officer of Kuraray. "And, as Amyris shares
our commitment to develop pioneering technology, I'm pleased that
Kuraray has agreed to make a capital investment in Amyris," Aya
added.
Amyris and Kuraray launched their collaboration in 2011 with an
initial focus on using Biofene-based polymers to replace
petroleum-derived feedstocks in tires. During this time, Kuraray
has developed Biofene-based liquid rubber (LFR) that reacts with
tire rubber more easily than traditional materials and strengthens
adhesion of rubber components to improve tire shape, stability, and
performance. Today, leading tire manufacturers are conducting
field, safety and performance tests of Kuraray's Biofene-based
liquid rubber in their tire formulations with a number of these
tests nearing conclusion. Also, during this period, Kuraray
produced and began customer sampling and product evaluation for a
new category of elastomers, Hydrogenated Styrenic Farnesene
Copolymer (HSFC), which have shown to have improved flow properties
and low residual strain, opening opportunities for vibration
dampening product applications.
About the Companies
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
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 commercialization of Amyris's production in
Brazil. For more information, visit the company's website at
www.amyris.com.
Kuraray was established in 1926. In 1950, the company achieved a
corporate milestone as the first in the world to bring polyvinyl
alcohol synthetic fiber to market. In subsequent years, Kuraray
used its proprietary technology in the area of polymer chemistry
and synthetic chemistry to develop resins, chemicals, fibers and
textiles, and other products for use in a wide variety of end
applications. Kuraray has overseas subsidiaries in 19 countries.
For more information, visit the company's website at
www.kuraray.co.jp/en.
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 the anticipated activities under and benefits of a
collaboration, the closing of a sale of Amyris equity,
commercialization of farnesene-based polymers, and the role of
farnesene in improving the sustainability of the tire industry)
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 and 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 5, 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, Biofene and No Compromise are
trademarks or registered trademarks of Amyris, Inc.
CONTACT: Amyris, Inc.
Joel Velasco
(510) 740-7481
investor@amyris.com
Kuraray Co., Ltd.
Public Relations
https://www.kuraray.co.jp/en/inquiry/
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