Amyris Achieves Record Low Cost Farnesene Production
October 12 2015 - 8:30AM
Amyris, Inc. (Nasdaq:AMRS), the industrial bioscience company,
today announced that after achieving a record low manufacturing
cost of $1.75 per liter for farnesene in September 2015, Amyris has
also accelerated its sales activity relating to high-performance
polymer-grade farnesene for the polymers market and Myralene™ as a
replacement for higher-priced limonene. Amyris expects several of
its current partners to place initial orders for these products
based on a guaranteed price for a three-year period that is lower
than current prices for the materials being replaced.
Myralene is a higher-performance industrial solvent compared to
equivalent products on the market and a lower cost alternative to
limonene at current prices. Customers who are switching to Myralene
as an industrial solvent are purchasing at approximately a 30%
lower price compared with current limonene market prices and are
achieving better cleaning performance without the negative
environmental impact. At these low manufacturing costs, farnesene
is also now priced competitively with isoprene as a raw material
for many high-performance polymer applications and delivers better
functional performance for Amyris's partners' end-market
materials.
Amyris has focused its business on the creation of innovative
ingredients that serve as drop-in replacements for other materials
that are costly financially and environmentally and are subject to
volatile supply issues. Amyris believes it is currently the
low-cost provider of high-performance materials produced from
sustainably-sourced sugar cane addressing the markets referenced
above, and that the total value of these global markets could soon
exceed $20 billion.
"We're very pleased with our current production cost performance
and the desire of several of our long-term partners to accelerate
sales of high-performance farnesene into these end markets," said
John Melo, Amyris President & CEO. "We expect our sales from
these markets to grow from less than $3 million in 2015 to over $20
million in 2016, with some of the shipments starting this quarter.
We are realizing our vision that lower cost, higher performance and
competitively priced materials would accelerate a transition to a
bio-economy and are very pleased to be working with some of the
world's leading companies in making this vision a reality while
helping them grow their business."
About Amyris
Amyris is the integrated renewable products company that is
enabling the world's leading brands to achieve sustainable growth.
Amyris applies its innovative bioscience solutions to convert plant
sugars into hydrocarbon molecules, specialty ingredients and
consumer products. The company is delivering its No Compromise®
products in focused markets, including specialty and performance
chemicals, fragrance ingredients, and cosmetic emollients. More
information about the company 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 lower cost production of farnesene accelerating
sales of farnesene and farnesene derivatives in the polymers and
industrial solvents markets, Amyris's revenues from products in
polymers and industrial solvents markets to grow from less than $3
million in 2015 to over $20 million in 2016, with some shipments
starting in the fourth quarter of 2015, and global market size for
these products soon exceeding $20 billion) 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 risks related
to manufacturing capacity at Amyris's Brotas facility, 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 August 10, 2015. 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 Myralene are trademarks or
registered trademarks of Amyris, Inc.
CONTACT: Peter DeNardo
Director, Investor Relations and Corporate Communications
Amyris, Inc.
+1 (510) 740-7481
investor@amyris.com
pr@amyris.com
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