Amyris Management Discusses Q2 2012 Results - Earnings Call Transcript

We will also provide certain forward-looking statements about events and circumstances that have not yet occurred and including projections of Amyris' operating activities in 2012 and beyond. Actual outcomes and results may differ materially from those contained in these statements due to a number of risks and uncertainties, including those provided in the company's recent SEC filings available on the SEC website at www.sec.gov. Please refer to these filings for detailed discussions of relevant risks and uncertainties. The company undertakes no responsibility to update the information in this call. The current report on Form 8-K furnished with respect to our press release is available on the company's website in the Investors section under SEC Filings and on the SEC website.

I would now turn the call over to John Melo.

John G. Melo

Good afternoon, and thank you for joining us for our quarterly update. During the second quarter, we continue to make progress on our technology development, our industrial-scale production and the execution of our commercialization plans, consistent with the strategy outlined earlier this year.

I'll first share what we've accomplished this past quarter and then provide some additional context for what we will be doing in the upcoming months. Amyris' first large-scale plant located in Brazil, at Paraíso, remains on track and on budget. Paraíso will be mechanically complete this week, with initially -- initial commissioning already started. We deliberately narrowed our current contract manufacturing operations, CMOs, from 3 to 1 CMO, take a while in Decatur, Illinois. We transferred our trained operators from Biomin, our resilient CMO, to support commissioning and operations at Paraíso. We had stable and reliable operations, with no failed runs and performance at scale that is statistically indistinguishable from our last scale performance.

We have made improvements to our cost structure, both through OpEx reductions as well as efficiency gains. We are in the final stages of the plant closure of our ethanol trading business, which will reduce our top line revenue and offer more transparency into our renewables business, as Steve will describe later on this call.

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