Amyris, Inc., a renewable products company, focuses on providing sustainable alternatives to a range of petroleum-sourced products. The company uses its proprietary synthetic biology platform to design microbes, primarily yeast, and use them as living factories in established fermentation processes to convert plant-sourced sugars into renewable hydrocarbons. The company is in the process of developing, and, in some cases, commercializing, products from these hydrocarbons in several target markets, including cosmetics, lubricants, flavors and fragrances, performance materials, and transportation fuels. Products The company is focused on developing a range of products to address five identified markets: cosmetics, flavors and fragrances, performance materials, lubricants and transportation fuels. Cosmetics: Through basic chemical finishing steps, the company is able to convert Biofene into squalane. Squalane is used as an emollient in cosmetics and other personal care products. Squalane traditionally has been manufactured from olive oil or extracted from deep-sea shark liver oil. The company has agreements with several regional distributors, including in Japan, South Korea, North America, Brazil and Europe. Lubricants: Lubricants are manufactured by combining a base oil with additives required by lubricant product applications, including engine oils, gear oils, hydraulic oils and turbine oils. In 2010, the company entered into an agreement with Cosan Combustíveis e Lubrificantes S.A. and Cosan S.A. Industria e Comércio to establish a joint venture for the worldwide development, production and commercialization of renewable base oils for the automotive, industrial and commercial lubricants markets. In March 2013, the company expanded this collaboration to also include additives and lubricants for the automotive, industrial and commercial lubricants markets. The joint venture is operated through Novvi LLC (or Novvi). Flavors and Fragrances: The company produces natural oils and aroma chemicals that are commonly used in the flavors and fragrances market. Performance Materials: Polymers are used in the manufacture of thousands of products that incorporate plastics and other polymeric materials. In 2011, the company entered into a collaboration agreement with Kuraray Co., Ltd. (Kuraray) to develop certain polymers from Biofene. Under the agreement, Kuraray would develop polymers from Biofene to replace or complement petroleum-derived molecules such as butadiene and isoprene in the production of specified classes of high-performing polymers. The company’s synthetic biology platform is able to produce other building blocks with the potential to provide an array of new renewable polymers to serve various markets. Transportation Fuels The company has selected diesel as its primary area of focus within the transportation fuels market. In 2012, the company entered into amendments of its technology license, development, research and collaboration agreement with Total Energies Nouvelles Activités USA, SAS (Total), and in 2013 the company established a joint venture with Total with respect to such programs to establish a renewable diesel development program. The company has received required approvals with Brazilian Agência Nacional do Petróleo, Gas Natural e Biocombustíveis (or ANP) for specific uses of its fuel in Brazil and has registered its Diesel Fuel with the California Air Resources Board (or CARB). Total Collaboration Products The company has a license, development, research and collaboration agreement with Total that sets forth the terms for the research, development, production and commercialization of chemical and/or fuels products to be agreed on by the parties. The company has retained rights to produce and commercialize products in the following markets: flavors and fragrances; cosmetics, pharmaceuticals, consumer packaged goods, food additives, and pesticides. Intellectual Property As of January 31, 2014, the company had 247 issued U.S. and foreign patents and 327 pending U.S. and foreign patent applications that are owned by or licensed to the company. Strategy The company’s business strategy is to focus on direct commercialization of renewable products while moving products in commodity industries, including its fuels and base oil lubricants products, into joint venture arrangements with established companies. Research and Development The company’s research and development expenditures included approximately $56.1 million, as of December 31, 2013. Significant Events In September 2014, Amyris, Braskem and Michelin announced that Braskem is joining the ongoing collaboration between Michelin and Amyris. This collaboration was initiated to develop and commercialize renewable isoprene, sourced from various biomass as an additional sustainable pathway to produce isoprene. History The company was founded in 2003. It was formerly known as Amyris Biotechnologies, Inc. and changed its name to Amyris, Inc. in 2010.
morningstar inc (MORN:NASDAQ GS)
22 West Washington Street
Chicago, IL 60602
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