Growth opportunity accelerates for Amyris and owner of Domino® and C&H® sugar brands
EMERYVILLE, Calif., Oct. 03, 2018 (GLOBE NEWSWIRE) -- Amyris, Inc. (Nasdaq:AMRS) a leader in the development and production of sustainable ingredients for the Health & Wellness, Clean Beauty and Flavors & Fragrances markets today announced it has signed its first major supply and distribution agreement for its new, sugarcane-derived, zero calorie sweetener with ASR Group, the world’s largest cane sugar refiner.
“We are pleased to collaborate with Amyris to deliver a great-tasting, zero calorie sweetener made from cane sugar to the marketplace. This product is among the highest in purity and best in flavor profile that we have seen,” said Richard Dyer, Chief Science and Innovation Officer for ASR Group. “We’re looking forward to growing our business by introducing this new product into our portfolio at a time when our customers and consumers are looking for calorie reduction without sacrificing their love for the taste of sugar.”
ASR Group is a dynamic company, with multi-national operations, and its portfolio includes the leading regional brands: Domino® Sugar and C&H® Sugar in the United States, Redpath® in Canada, Tate & Lyle® in the United Kingdom and Sidul® in Portugal.
The long-term agreement for a significant volume of Amyris’s ingredient guarantees ASR Group a supply of the sugarcane-derived sweetener – key to the company’s future plans to expand its product offering with a new sweetener brand to be marketed and distributed globally, via business to business and direct to consumer. The agreement also fits well with Amyris’s strategy to create value for market leaders in long-term partnerships.
“We’re delighted that ASR Group, a long-time leader worldwide in the sugar and sweetener markets, has become the first commercial customer and long-term partner for our sweetener,” said John Melo, Amyris President & CEO. “Amyris’s growth strategy depends on our ability to reach consumers. The more successful we are with consumers, the faster we will grow. Today’s announcement demonstrates significant strategic progress in becoming the leader in delivering caloric reduction to consumers.”
“We are continuing our commitment to help our customers achieve their health goals. We did it first with Biossance, our clean beauty skincare and now with our first major sale of our zero calorie sweetener, which provides consumers with the sweetness they love with zero calories.
Amyris’s zero calorie sweetener has received designation as GRAS (Generally Recognized as Safe) by an independent expert panel. Amyris will manufacture its sweetener in Brazil, where it currently produces its other specialty ingredients. By making plant-based products using safe and sustainable ingredients, Amyris is continuing to disrupt markets. Its No Compromise™ approach guarantees that everything Amyris makes is sustainable with high levels of purity, performs better and is lower in cost, compared to ingredients made from non-sustainable sources.
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 and services 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.
About ASR Group
ASR Group is the world’s largest refiner and marketer of cane sugar, with an annual production capacity of more than 6 million tons of sugar. The company produces a full line of grocery, industrial, food service and specialty sweetener products. Across North America, ASR Group owns and operates six sugar refineries, located in New York, California, Maryland, Louisiana, Canada and Mexico. The company also farms sugarcane and owns sugar mills in Mexico and Belize. In Europe, the company owns and operates sugar refineries in the United Kingdom and Portugal as well as jointly owns a refinery in Italy. The company’s portfolio includes the leading brands Domino®, C&H®, Florida Crystals®, Redpath®, Tate & Lyle®, Lyle’s®, Sidul® and Notadolce®. ASR Group is owned by Florida Crystals Corporation and Sugar Cane Growers Cooperative of Florida. For more information, visit www.ASR-Group.com.
This release contains forward-looking statements, and any statements other than statements of historical fact could be deemed to be forward-looking statements. These forward-looking statements include, among other things, statements regarding future events. 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 Amyris's liquidity and ability to fund operating and capital expenses, potential delays or failures in development, production and commercialization of products, risks related to Amyris's reliance on third parties, and other risks detailed from time to time in filings Amyris makes with the Securities and Exchange Commission, including Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. 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 trademarks or registered trademarks of Amyris, Inc. in the U.S. and other countries. All other trademarks are the property of their respective owners.
Director, Investor Relations and Corporate Communications
+1 (510) 740-7481