Follow Green Car Magazine on Twitter
Amyris Biotechnologies, Inc. today announced that it is securing funding to advance progress toward the company’s targeted 2011 first commercialization, including scale up and commercial plant design activities. In recent months, Amyris has opened both a pilot plant and demonstration facility in Campinas, Brazil, and advanced its work with an established engineering, procurement and construction management (EPCM) firm to complete detailed plant design and engineering plans.
Amyris is in the process of securing its first production site and expects to begin to order equipment for this plant toward the end of the year. “We are making strong progress toward realizing our near-term goal of bringing our renewable products to market, seeking to provide the world with low cost, scalable alternatives to petroleum sourced fuels and chemicals.” said John Melo, chief executive officer, Amyris. “This funding will enable us to continue to move aggressively toward this goal, and demonstrates investor confidence in our technology, our business strategy, and our execution on this strategy in both the U.S. and in Brazil.” Amyris has raised $41.75 million in the current Series C round, from new investors GrupoCornelioBrennand of Brazil and Naxos UK, as well as from previous investors including Khosla Ventures, Kleiner Perkins Caufield & Byers, TPG Biotech and Votorantim Novos Negocios. The Company anticipates additional closings this fall, targeting a total funding of approximately $60 million, which would bring total equity raised to-date to approximately $165 million. These funds have enabled the company to build its synthetic biology platform of engineered yeast to produce a portfolio of renewable chemicals and transportation fuels, establish Brazil operations and scale up facilities, engage mill owners for access to sugarcane feedstock and scale-up production, and build a U.S. distribution subsidiary that is already generating revenue.
Popularity: unranked [?]
