Amyris Biotechnologies Inc has reported “… that it intends to acquire a 40% stake in the Boa Vista mill, an ethanol-producing mill owned and operated by the São Martinho Group, one of the largest and most efficient sugar and ethanol producers in Brazil. The parties will work together to convert this mill to produce Amyris renewable products with first production targeted for the 2011-2012 harvest season. The Boa Vista mill, located in Quirinópolis, Goiás, began operations in June 2008. The mill currently has 2.25 million metric tons of sugarcane crush capacity. In addition, the agreement will allow the Iracema mill, also controlled by the São Martinho Group, to adopt this technology one to two years following the Boa Vista commercialization.”
More from a Release dated December 03, sourced from Amyris Biotechnologies Inc:
Amyris Biotechnologies and São Martinho Enter Into Agreement for Boa Vista Mill to be First Commercial Producer of Amyris Renewable Products | Business Wire
Amyris Acquiring 40% of Boa Vista Mill from São Martinho; Parties to Collaborate on Mill Conversion and Production
EMERYVILLE, Calif.–(BUSINESS WIRE)–Amyris Biotechnologies, Inc., announced that it intends to acquire a 40%
stake in the Boa Vista mill, an ethanol-producing mill owned and
operated by the São Martinho Group, one of the largest and most
efficient sugar and ethanol producers in Brazil. The parties will work
together to convert this mill to produce Amyris renewable products with
first production targeted for the 2011-2012 harvest season. The Boa
Vista mill, located in Quirinópolis, Goiás, began operations in June
2008. The mill currently has 2.25 million metric tons of sugarcane crush
capacity. In addition, the agreement will allow the Iracema mill, also
controlled by the São Martinho Group, to adopt this technology one to
two years following the Boa Vista commercialization.Under the terms of the agreement, Amyris is to acquire its stake in the
Boa Vista mill for Brazilian reais R$140 million, to be paid to São
Martinho through a combination of Amyris stock, cash and a note payable.
The agreement is still subject to the conclusion of the due diligence
process as well as approval of the final contracts by the board of
directors and shareholders of São Martinho and of Amyris.“The joint undertaking will produce renewable products in an integrated
chain beginning with the harvest of sugarcane and ending with the final
product, drawing on the São Martinho Group’s expertise in the production
of renewable carbon with the lowest cost in the sugar and energy
sector,” said Fabio Venturelli, CEO of São Martinho.“São Martinho is the ideal partner for the initial commercial launch of
our renewable products, providing complementary industry operating
experience to support this first commercial conversion,” said John Melo,
CEO of Amyris. “In addition, the Boa Vista mill is one of the most
modern, efficient mills in Brazil – a fitting starting point for the
launch of our renewable products.”Amyris applies synthetic biology to alter the metabolic pathways of
microorganisms to engineer “living factories” that transform sugar into
any one of 50,000 different molecules used in a wide variety of energy,
pharmaceutical and chemical applications. Amyris has proven this
technology through the delivery of its first successful commercial scale
technologies to global pharmaceutical company, sanofi-aventis, for the
production of artemisinin, a low cost anti-malarial drug.Amyris’s initial products include renewable molecules that will be used
to make a variety of consumer goods, and in various industrial
applications that are currently based on petrochemical components. It is
also possible to produce renewable diesel and jet fuel with performance
equal to or better than existing biofuels and oil-based fuels. A key
attribute of the fuel is that it is a hydrocarbon – the same component
found in today’s petroleum fuels – enabling it to be used in any kind of
diesel engine and withstand extremely low temperatures without the need
to alter engines. It can also be easily distributed within the existing
fuels infrastructure. In addition to diesel, Amyris expects to produce
renewable chemicals for a variety of consumer products and industrial
applications currently dependent on petrochemical components.About São Martinho
The São Martinho Group is one of the largest sugar and ethanol groups in
Brazil, processing 13.3 million metric tons of sugarcane each harvest
year, for production of approximately 720,000 metric tons of sugar, 600
million liters of ethanol and 15,000 MWh of electric power. The group
operates three mills: São Martinho in Pradópolis (in the Ribeirão Preto
region of São Paulo state), Iracema, in Iracemápolis (in the Limeira
region of São Paulo state), and Boa Vista (in Quirinópolis, 300 km from
Goiânia in Goiás state), in addition to Omtek, a unit that produces
ribonucleic acid (also in Iracemápolis). The average harvest
mechanization ratio is 82%, with this figure reaching 100% at the Boa
Vista mill. In February 2007, the São Martinho Group was listed on the
Novo Mercado Special Corporate Governance Segment of the Brazilian
Securities, Commodities and Futures Exchange (BM&FBOVESPA) under the
stock ticker SMTO3.About Amyris
Amyris Biotechnologies, Inc., applies proprietary synthetic biology
technology to create a portfolio of renewable fuels and chemicals that
help reduce the world’s carbon footprint. In addition to being
environmentally friendly, Amyris products are designed to be low cost,
scalable, and compatible with the existing infrastructure with
performance attributes comparable to petroleum-based products. Amyris
operates two subsidiary companies: Amyris Fuels, LLC and Amyris Brasil
S.A. Amyris Fuels is building Amyris’s U.S.-based product distribution
and marketing capabilities, generating current revenue from an expanding
distribution and customer network. Amyris Brasil was established in
March 2008 to oversee Amyris’s final scale-up, licensing, production and
distribution in Brazil. Amyris Brasil has approximately 50 employees
with facilities in Campinas, Brazil, including labs, a pilot plant and
demonstration facility. More information about Amyris is available at www.amyris.com
and www.amyrisbrasil.com.Forward-Looking Statements:
The statements contained in this release that are not historical are
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934 as amended. These include, without limitation, statements regarding
scale-up, economies and all future performance criteria of Amyris
renewable products. Words such as “expect,” “believe,” “plan,” and
similar expressions are intended to identify forward-looking statements.
These forward-looking statements are based upon the Company’s current
expectations. Forward-looking statements involve risks and
uncertainties. The Company’s actual results and the timing of events
could differ materially from those anticipated in such forward-looking
statements as a result of these risks and uncertainties.…
