Amyris & CJ CheilJedang Corporation Creating Manufacturing and Sales Partnership
May 20 2016 - 7:30AM
Amyris, Inc. (Nasdaq:AMRS), the industrial bioscience company, and
South Korea-based CJ CheilJedang Corporation (“CJ”)(KRX:097950),
today announced that the companies have signed a Memorandum of
Understanding (MOU) to support large-scale manufacturing of
Amyris’s farnesene in existing CJ facilities. The arrangement
described in the MOU would enable Amyris to utilize CJ’s state of
the art manufacturing capacity while minimizing the capital
investment necessary to support projected near- and mid-term demand
for product applications using farnesene. The partnership is also
expected to include the opportunity for CJ Bio (division of CJ
CheilJedang) to market select Amyris products in Asian markets as
well as the potential for Amyris to develop several products for CJ
Bio. The companies are targeting completing a definitive agreement
by the first week of August 2016.
“We are very pleased with the innovative approach of CJ
CheilJedang, to support quickly ramping up our farnesene capacity
with minimal capital investment and with the collaborative
partnership to market some of our products in Asia,” said John
Melo, President & CEO of Amyris. “This partnership completes
our commercialization strategy by providing us the ability to meet
our farnesene demand from our current partners without new
investment from Amyris and underpins our expected capacity needs to
meet farnesene demand that would require building 3-4 new plants
the size of our Brotas facility by 2020. We are also pleased with
the opportunity to partner with CJ for sales efforts in Asia and
the potential to collaborate on new products that meet the needs of
their existing customers.”
“We are excited to partner with Amyris and leverage the world’s
leading Industrial Biotechnologies to support the growing bio
economy in Asia,” said Hang Duk Roh, Head of CJ CheilJedang
BIO.
About CJ CheilJedang Corporation CJ
CheilJedang, is a Korean-based food, feed, and bioscience company,
and a subsidiary of the CJ Group. CJ CheilJedang is a global leader
in the area of industrial biotechnology with innovations in
fermentation and purification technologies. CJ is a leading
producer of fermentation-based products such as feed amino acids,
MSG, and nucleotides with global manufacturing and business
operations in 6 continents. As a socially responsible company, CJ
strives toward practicing carbon-neutral manufacturing operations
by utilizing renewable raw materials and developing value-added
co-products to minimize waste into the environment.
CJ Bio is a division of CJ CheilJedang and operates world-scale
fermentation facilities in the United States, China, Indonesia,
Malaysia and Brazil.
About Amyris
Amyris is the integrated renewable products company that is
enabling the world’s leading brands to achieve sustainable growth.
Amyris applies its innovative bioscience solutions to convert plant
sugars into hydrocarbon molecules, specialty ingredients and
consumer products. The company is delivering its No Compromise®
products in focused markets, including specialty and performance
chemicals, fragrance ingredients, and cosmetic emollients. More
information about the company is available at www.amyris.com.
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 (such as expectations regarding the company’s ability to
establish a definitive agreement following execution of the
non-binding MOU with CJ, future demand for Amyris products,
successful scale-up of manufacturing at CJ facilities and the
potential for the two companies to engage in joint product sales
and new product development) 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, among other things, risks detailed in
the “Risk Factors” section of Amyris’s annual report on Form 10-Q
filed on May 10, 2016. Amyris disclaims any obligation to update
information contained in these forward-looking statements whether
as a result of new information, future events, or otherwise.
Amyris is a registered trademark of Amyris, Inc. All other
trademarks are the property of their respective owners.
Contact:Peter DeNardoDirector, Investor
Relations and Corporate CommunicationsAmyris, Inc. +1 (510)
740-7481investor@amyris.compr@amyris.com
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