December 6, 2013

Amyris, Total form 50-50 renewable fuel JV

My apologies for the lack of posts (again) as I have been busy working on getting information for the Bio-Materials newsletter before folks from around the world start their holiday events.

However, let me post this one from Amyris' recent announcement on its joint venture formation with its largest investor, French oil firm, Total. Yesterday, Amyris announced the formation of a 50-50 joint venture called Total Amyris BioSolutions B.V. with Total. The JV now holds exclusive rights and a license to produce and market renewable diesel and jet fuel from Amyris's farnesene.

The JV company was formed as a Netherlands-based private company with limited liability. Total and Amyris each contributed EUR 50 million in cash to the joint venture, which in the case of Amyris, was borrowed from Total via secured promissory note. Total has certain rights to buy out Amyris's interest in the JV before the completion of their R&D program.

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