About AmyrisAmyris 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 expectations regarding the company's ability to establish a definitive agreement following execution of the non-binding MOU with CJ, future demand for Amyris products, successful scale-up of manufacturing at CJ facilities and the potential for the two companies to engage in joint product sales and new product development) 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, among other things, risks detailed in the "Risk Factors" section of Amyris's annual report on Form 10-Q filed on May 10, 2016. 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 is a registered trademark of Amyris, Inc. All other trademarks are the property of their respective owners. Contact:Peter DeNardoDirector, Investor Relations and Corporate CommunicationsAmyris, Inc. +1 (510) 740-7481 firstname.lastname@example.org email@example.com
EMERYVILLE, Calif., May 20, 2016 (GLOBE NEWSWIRE) -- Amyris, Inc. (Nasdaq:AMRS), the industrial bioscience company, and South Korea-based CJ CheilJedang Corporation ("CJ")(KRX:097950), today announced that the companies have signed a Memorandum of Understanding (MOU) to support large-scale manufacturing of Amyris's farnesene in existing CJ facilities. The arrangement described in the MOU would enable Amyris to utilize CJ's state of the art manufacturing capacity while minimizing the capital investment necessary to support projected near- and mid-term demand for product applications using farnesene. The partnership is also expected to include the opportunity for CJ Bio (division of CJ CheilJedang) to market select Amyris products in Asian markets as well as the potential for Amyris to develop several products for CJ Bio. The companies are targeting completing a definitive agreement by the first week of August 2016. "We are very pleased with the innovative approach of CJ CheilJedang, to support quickly ramping up our farnesene capacity with minimal capital investment and with the collaborative partnership to market some of our products in Asia," said John Melo, President & CEO of Amyris. "This partnership completes our commercialization strategy by providing us the ability to meet our farnesene demand from our current partners without new investment from Amyris and underpins our expected capacity needs to meet farnesene demand that would require building 3-4 new plants the size of our Brotas facility by 2020. We are also pleased with the opportunity to partner with CJ for sales efforts in Asia and the potential to collaborate on new products that meet the needs of their existing customers." "We are excited to partner with Amyris and leverage the world's leading Industrial Biotechnologies to support the growing bio economy in Asia," said Hang Duk Roh, Head of CJ CheilJedang BIO. About CJ CheilJedang Corporation CJ CheilJedang, is a Korean-based food, feed, and bioscience company, and a subsidiary of the CJ Group. CJ CheilJedang is a global leader in the area of industrial biotechnology with innovations in fermentation and purification technologies. CJ is a leading producer of fermentation-based products such as feed amino acids, MSG, and nucleotides with global manufacturing and business operations in 6 continents. As a socially responsible company, CJ strives toward practicing carbon-neutral manufacturing operations by utilizing renewable raw materials and developing value-added co-products to minimize waste into the environment. CJ Bio is a division of CJ CheilJedang and operates world-scale fermentation facilities in the United States, China, Indonesia, Malaysia and Brazil.