EMERYVILLE, Calif., April 18, 2017 (GLOBE NEWSWIRE) -- Amyris, Inc. (Nasdaq:AMRS), the industrial bioscience company, today announced that it has expanded the scope of its relationship with Phyto Tech Corp (D/B/A "Blue California"). Blue California is based in Southern California and is a global leader in food, flavor and fragrance ingredients and nutraceuticals.
Amyris No Compromise® ingredients into China have been more than doubling in sales and are expected to continue strong growth in the personal care and nutrition segments. To support this product growth without capital investment, Amyris has entered into an agreement with Blue California whereby its affiliates will provide access to its fermentation manufacturing in China and provide the necessary capital to produce No Compromise ingredients for Amyris. Blue California and its affiliates have an expanding fermentation production base in China with capacity to support the Amyris technology. This partnership also includes Blue California's status as the preferred contract manufacturer for Amyris outside China when and where it is able to meet the current cost structure of Amyris production to maintain Amyris's low cost, high performance product value proposition. In this relationship, Amyris will provide the technology and our partner is providing the capital and capacity for manufacturing that meets Amyris's demand and Amyris is responsible for delivering the products to its customers and collaboration partners.
With the strong demand for farnesene-based Vitamin E oil with another Amyris partner in China, and the company's opportunity to supply intermediates and ingredients for the large and fast growing Chinese food ingredients market, the revenue opportunity in China is significant. The company expects to generate $50 million or more in revenue over the next 12-18 months from its sales into China.
"We're very pleased with the access to Blue California's fermentation capacity and the continued deepening of our partnership with them," said John Melo, Amyris President and CEO. "Blue California's leadership in natural ingredients creates a strong strategic linkage between our two businesses. We believe that our relationship, which is incremental to the current strategic and financial transactions we have been engaged in, will contribute to Amyris revenue growth over the next 12 months and will play a key part in our record product sales into the Chinese market. This expansion is a result of the successful license agreement and technology transfer with Blue California in December and is one of several key strategic partnerships we are in the process of completing."
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 growth of sales of Amyris products, including in the personal care and nutrition segments, in China and other Asian markets, anticipated growth in Blue California's and its affiliates' fermentation production base and capacity to support Amyris technology in China, expected growth in the Chinese food ingredients market, Amyris's anticipated revenue from its sales into China over the next 12-18 months, the expected effect of the relationship between Amyris and Blue California on Amyris's revenue over the next 12 months and product sales into the Chinese market, and the anticipated completion of other key strategic partnerships) 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 annual report on Form 10-K filed on April 17, 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, Biossance and No Compromise are registered trademarks of Amyris, Inc. All other trademarks are trademarks of their respective owners.
Contact: Peter DeNardo Director, Investor Relations and Corporate Communications Amyris, Inc. +1 (510) 740-7481 firstname.lastname@example.org email@example.com