EMERYVILLE, Calif. and BRISBANE, Australia, June 20, 2017 (GLOBE NEWSWIRE) -- Amyris, Inc. (Nasdaq:AMRS), the industrial bioscience company, and the Government of Queensland, Australia today announced the next step their plans to develop a leading industrial biotechnology hub in Southeast Asia. Plans call for developing a new production plant with support from local partners to produce Amyris's sugar cane-based ingredient called farnesene, which is used in products including cosmetic emollients, fragrances, nutraceuticals, polymers, and lubricants.
Acceleration of this project, which was first announced on December 6, 2016, came out of the Queensland Government's Biofutures Acceleration Program that offers support to companies to build commercial-scale biorefineries in regional Queensland. Amyris was chosen based on its legacy expertise in operating such production facilities.
Queensland Premier Annastacia Palaszczuk said the interest by Amyris was welcome.
"Amyris is seeking to replicate its successful biorefinery in Brazil and sees Queensland as an ideal location due to the abundance of sugarcane and close proximity to Asia," Ms Palaszczuk said.
"The company's proposed biorefinery would aim to produce 23,000 tonnes a year of a sugar cane-based ingredient called farnesene which is used in a range products including cosmetics, fragrances, nutraceuticals, polymers, and lubricants."
"The Queensland Government's funding and support for biorefinery projects will create high-value jobs and investment in regional Queensland by using renewable feedstocks to create biofuel and other bioproducts."
"We are very pleased with the commitment of the Queensland Government to be leaders of the Bioeconomy," said John Melo, Amyris President & CEO. "Our growing demand in China for Vitamins and the Asian demand for cosmetics and fragrances supports a new specialty farnesene fermentation factory in Queensland. The funding from the Queensland government along with the operating expertise and sugar cane base of our local partner make this factory possible and enable savings from our current production in Brazil and the associated shipping costs. Like all our new projects, this factory is expected to be sold out when it starts operating with agreements to supply our current partners in China and other Asian markets. Queensland offers an excellent location option for Amyris with its favorable business climate, extensive sugar industry and geographic proximity to these markets."
Amyris and the Government of Queensland have successfully partnered on a number of initiatives since 2010 designed to foster adoption of renewable product solutions targeting large global markets while also supporting the development of a Queensland-based biotechnology industry using feedstock from local sugarcane.
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 and produce specialty ingredients and consumer products. The company is delivering its No Compromise® products across a number of markets, including specialty and performance chemicals, flavors and fragrances, cosmetics ingredients, pharmaceuticals, and nutraceuticals. More information about the company is available at www.amyris.com.
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 the expected development of a leading industrial biotechnology hub in Southeast Asia, including a new production plant, the anticipated demand in Asia for Amyris products, expected cost savings from the planned production facility relative to Amyris's current production in Brazil, and the anticipated demand for production at such facility) 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 May 15, 2017. 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 No Compromise are registered trademarks of Amyris, Inc. All other trademarks are trademarks of their respective owners.
Note to Editors: Please see news release issued December 6, 2016, entitled, "Amyris Partners with Queensland to Create the Leading Industrial Biotechnology Hub in Southeast Asia".
Contacts: Kerryn Manifold Queensland Government Deputy Director - Government Media Unit +61 424 510973 email@example.com Peter DeNardo Director, Investor Relations and Corporate Communications Amyris, Inc. +1 (510) 740-7481 investor@Amyris.com pr@Amyris.com