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Amyris And TOTAL Form Fuels Joint Venture

Stocks in this article: AMRS

EMERYVILLE, Calif. and PARIS, Dec. 5, 2013 (GLOBE NEWSWIRE) -- Amyris, Inc. (Nasdaq:AMRS) and Total (Paris:TOTF) announced today the formation of Total Amyris BioSolutions B.V., a 50-50 joint venture that now holds exclusive rights and a license under Amyris's intellectual property to produce and market renewable diesel and jet fuel from Amyris's renewable farnesene. TOTAL is Amyris's largest investor, holding approximately 18% of its outstanding common stock, and is deeply committed to the development of next-generation renewable fuels from biomass.

TOTAL and Amyris logo

" The joint-venture Total Amyris Biosolutions is a first step towards the commercialization of our renewable diesel and jet fuels. We are in the phase of scaling-up the industrial process and we expect to start commercialization within the next few years, once our joint research and development goals are met," said Philippe Boisseau, President, Marketing & Services and New Energies, and a member of TOTAL's Executive Committee. " As far as commercialization is concerned, t he new joint-venture will benefit from the know-how and customer access of TOTAL, which operates in more than 130 countries and is aiming to become a key supplier in renewable fuels," Boisseau added.

" The formation of this joint venture, anticipated by our streamlined collaboration agreement signed last year, paves the way for us to initiate our fuels commercialization efforts globally, building on Amyris experience with renewable diesel in Brazil and the growing demand for lower-emission jet fuels worldwide," said John Melo, President & CEO of Amyris, Inc. " TOTAL has been a strategic partner for Amyris for the last three years and a model of how global companies can leverage our inspired science to deliver sustainable solutions for a growing world," Melo added.

Detailed information regarding the terms of the collaboration and funding structure can be found in Amyris's SEC filings.

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