Amyris Receives Approval For R$ 22 Million Funding From Brazil’s Development Bank
Inc. (NASDAQ:AMRS), a leading renewable chemicals and fuels company,
today announced that it has received final approval from the Brazilian
Development Bank (BNDES) for a R$ 22 million project financing...
Amyris, Inc. (NASDAQ:AMRS), a leading renewable chemicals and fuels company, today announced that it has received final approval from the Brazilian Development Bank (BNDES) for a R$ 22 million project financing facility for Amyris Brasil Ltda.’s first industrial-scale production facility located in Piracicaba, São Paulo. “We are very appreciative of the confidence shown by BNDES in approving funding for the first of our Brazilian production facilities,” said John Melo, CEO of Amyris. “This relationship demonstrates the important role BNDES can play in enabling our technology to add value to the sugarcane sector. The funds support our investment in production capital expenditures, and we look forward to expanding our relationship with BNDES and the Brazilian government as we advance on our production of renewable chemicals and fuels in the country.” “BNDES sees great potential in green-chemistry projects that add new technologies to the sugarcane sector, where Brazil is competitive and the world leader,” said Roberto Zurli Machado, Director of BNDES. Amyris is scaling its Biofene production in Brazil, Europe and the United States through five production arrangements. Earlier this year, Amyris began operations of its first production facility located in Piracicaba, São Paulo, Brazil at a facility owned by Biomin do Brasil Nutricão Animal Ltda., a company focusing on animal nutrition. Amyris is currently building additional dedicated facilities in Brazil at Usina São Martinho S.A., one of the largest sugar and ethanol producers in Brazil, and at Paraíso Bioenergia S.A. About Amyris 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 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. Amyris also has fuel distribution capabilities in the United States through its subsidiary, Amyris Fuels, LLC. For more information, visit www.amyris.com. Forward-Looking StatementsThis 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 receipt of funds based on BNDES approval of funding and our expectations for expansion of our relationship with BNDES) 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, our reliance on third parties to achieve our goals, and other risks detailed in the “Risk Factors” sections of Amyris’s annual report on Form 10-K filed on March 14, 2011 and quarterly reports on Form 10-Q filed on May 11, 2011 and August 11, 2011. 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, No Compromise and Biofene are trademarks or registered trademarks of Amyris, Inc.