EMERYVILLE, Calif., May 05, 2017 (GLOBE NEWSWIRE) -- Amyris, Inc. (Nasdaq:AMRS), the industrial bioscience company, today announced that its partner's success in developing high performance liquid farnesene rubber (LFR) for use in winter tire applications has led to accelerated adoption due to the performance enhancements of LFR. This has led to commercialization plans being accelerated by two additional major tire brands that are now developing tires utilizing LFR and expanding their use beyond winter tire applications. As a result, Amyris sold farnesene to its collaboration partner for conversion to LFR in the first quarter of 2017 alone equaling all of the material shipped in fiscal 2015 and 2016 combined and expects to see continued shipments during 2017 to meet accelerated demand.
"We are pleased with the early success and market adoption of our partner's LFR additive from a sustainable source for tires," said John Melo, President & CEO of Amyris. "The recognized performance qualities of winter tires using LFR has caused notable interest by leading tire companies and has resulted in substantially stronger demand in 2017 than either Amyris or our collaboration partner had anticipated. We are encouraged by the market reception toward utilizing LFR to make safer high-performance tires and excited at the expanded use beyond winter tire applications. This is a great example of our impact on making our planet healthier, providing consumers with a better performing tire and helping our partners gain market share."
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 expected demand for and shipments of farnesene for LFR during 2017 and anticipated expansion of the use of LFR beyond winter tire applications) 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 and No Compromise are registered trademarks of Amyris, Inc.
Contact: Peter DeNardo Director, Investor Relations and Corporate Communications Amyris, Inc. +1 (510) 740-7481 email@example.com firstname.lastname@example.org