Amyris, Inc. and Firmenich are expanding their collaboration agreement to include a third ingredient for the flavors and fragrances market. Under the current agreement, established in November 2010, Firmenich is funding work at Amyris to develop a first ingredient with rights to co-fund a second. Amyris has delivered on a key milestone for the development of that first ingredient, well ahead of schedule. The parties expect to begin work on the second ingredient on schedule and, as a result of the performance so far, have decided to expand the collaboration to now incorporate a third ingredient.
The goal of the Amyris-Firmenich collaboration is to promote long-term interests of the flavors and fragrances industry by providing sustainable ingredients that are cost competitive. Under the agreement, Amyris will manufacture and supply key ingredients to Firmenich, and Firmenich will market and distribute them exclusively in the flavors and fragrances market. Both parties will share in the economic value derived from these ingredients.
“We are very pleased with the progress of our collaboration with Amyris,” said Patrick Firmenich, CEO of Firmenich. “Innovation and sustainability are integral components of our company philosophy, and this expanded partnership with Amyris will continue our commitment to provide high-quality ingredients to the flavors and fragrances market.”
“We are excited to be expanding our productive collaboration with Firmenich,” said John Melo, CEO of Amyris. “Our progress with Firmenich demonstrates our commitment to delivering results to our customers that exceed expectations, and validates our plans to begin production and sale of Amyris sourced flavors and fragrances ingredients starting next year.
Notes to editors
Firmenich is the world’s largest privately-owned company (No. 2 worldwide) in the fragrance and flavor business. Founded in Geneva, Switzerland, in 1895, it has created many of the world’s best-known perfumes and flavors that we enjoy each day. Its passion for smell and taste is at the heart of its success. It is renowned for its creativity and innovation, as well as its exceptional understanding of consumer trends. Each year, it invests around 10% of its turnover in R&D, reflecting its continuous desire to understand, share and sublimate the best that nature has to offer. Firmenich had an annual turnover of 2.873 billion Swiss Francs at end June 2010. More information about Firmenich is available at www.firmenich.com.
About Amyris, Inc.
Amyris is an integrated renewable products company focused on providing sustainable alternatives to a broad range of petroleum-sourced products. Amyris uses its industrial synthetic biology platform to convert plant sugars into a variety of molecules -- flexible building blocks that can be used in a wide range of products. Amyris’s initial portfolio of commercial products is based on Biofene®, Amyris’s brand of renewable farnesene, a long-chain hydrocarbon. Amyris is commercializing these products both as No Compromise® renewable ingredients in cosmetics, flavors and fragrances, polymers, lubricants and consumer products, and also as No Compromise renewable diesel and jet fuel. Amyris Brasil Ltda., a subsidiary of Amyris, oversees the establishment and expansion of Amyris's production in Brazil. More information about Amyris is available at www.amyris.com
.Amyris Forward-Looking Statements
This release contains forward-looking statements, and any statements other than statements of historical facts could be deemed to be forward-looking statements. These forward-looking statements include, among other things, statements regarding future events that involve risks and uncertainties. These statements are based on management's current expectations and actual results and future events may differ materially due to risks and uncertainties, including those associated with any delays or failures in development, production or commercialization of products, liquidity and ability to fund capital expenditures, Amyris's reliance on third parties to achieve its goals, and other risks detailed in the "Risk Factors" section of Amyris's Form 10-K, as filed annually. Amyris disclaims any obligation to update information contained in these forward-looking statements whether as a result of new information, future events, or otherwise.