November 10, 2011

3Q Renewable Chems Earnings news

I don't usually follow much of the earnings season (except for titanium dioxide, chlor-alkali and soda ash that I have to cover for ICIS Chemical Business...) but I'll make an exception on this quarter for some of our renewable chems companies such as Codexis, Amyris, Gevo, Solazyme, and Metabolix. I hope I did not miss anybody else.

We've already covered a bit about Amyris in this post. Not much new information on Gevo after the blog covered the company's investor day in September.

Codexis, however, told investor analysts during its third quarter earnings call on November 1, that it is re-positioning itself as more of a "product company" than a tech licensing company. Codexis said much of its future revenue will now come from product sales made using the company's enzymes and microbes instead of R&D funding.
“While more than half of our revenue today comes from R&D funding, we expect in the future to earn revenue from three sources – the sale of enzymes, of products made using our enzymes and microbes, and royalties from the use of our technology. We now have more than 50 pharmaceutical companies using our enzymes. We intend to repeat that revolution in biofuels and bio-based chemicals – where our CodeEvolver platform enables us to extract sugar from non-food biomass and to turn that sugar into high value chemicals and fuels.” – Alan Shaw, CEO of Codexis

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