Amyris Inc. said its farnesene plant in Brazil has achieved the production run rate of 1 million liters over a 45-day period, surpassing the production performance milestones under the purchase agreement for financing.
"Our farnesene plant in Brazil is operating well, meeting our technology, volumetric and cost targets," said John Melo, the company's CEO.
With all six fermentors running as planned and with the ongoing production rate, Melo said the company is on track to achieve its year-end cost targets. Its plant at Brotas is expected to produce more farnesene this year than Amyris has produced in its entire prior contract manufacturing operations combined; the company has surpassed the 5 million liter production mark.
"More importantly, we are growing the market with new, innovative products. Using a blend of renewable diesel, public transit buses in Brazil's largest cities have logged well over 15 million miles, improving performance while reducing emissions," Melo added. "Our cosmetics business has grown over 80% year-on-year following the introduction of Neossance Squalane, our renewable version of this premium emollient.
The Amyris production facility, located adjacent to the Paraiso sugarcane mill in Brotas, Sao Paulo in Brazil, began commercial operations at the beginning of 2013 and had all six fermentors running in July to align with commercial volume needs. Amyris's farnesene is a renewable hydrocarbon molecule addressing growing demand in a broad range of applications, from diesel and jet fuel to high-performance materials.
Amyris received a $35 million loan to provide bridge financing until the closing of the first tranche of its pending convertible note financing, which it expects in the coming weeks.
"By producing 1 million liters of farnesene in a 45-day period, we have surpassed the production performance milestones under the purchase agreement for the financing and are on track to meet the remaining milestones," Melo concluded.
