EMERYVILLE, Calif. and TOKYO, March 31, 2014 (GLOBE NEWSWIRE) -- Amyris, Inc. (Nasdaq:AMRS), the leading synthetic biology innovator and renewable products company, and Kuraray Co., Ltd. (TSE:3405), a pioneering global chemical products company with a long history of commercializing a range of resins, fibers, textiles and other materials, announced today the expansion and extension of their ongoing collaboration in high performance polymers using Biofene®, Amyris's brand of renewable farnesene.
"Kuraray has been a strong collaboration partner over the last two years, and I welcome our expanding work together in developing and commercializing high performance materials from Biofene," said John Melo, President & CEO of Amyris. "Based on the positive feedback from tire manufacturers for Liquid Farnesene Rubber, we remain confident that Biofene will play a critical role in improving the sustainability of the tire industry. We are also encouraged that with Kuraray in Japan we are launching a new category of elastomers made from Biofene," added Melo.
Under the transaction agreements, the parties have extended the duration of the research and development portion of their collaboration for at least two more years. The parties also reaffirmed their commercialization goals by expanding types of, and fields of use for, Kuraray polymer products containing Biofene. As detailed in the agreement, Amyris will receive an undisclosed amount of collaboration funding over the next two years, and Kuraray will purchase approximately $4 million of Amyris's common stock in April of this year.
"Our joint technical progress in the last two years has been tremendous, and we are optimistic about the commercialization of farnesene-based polymers with Amyris in the near future and our expanded ongoing collaboration to new polymer products, including viscosity index improvers, sealants, and adhesives," said Tomoyuki Aya, Senior Executive Officer of Kuraray. "And, as Amyris shares our commitment to develop pioneering technology, I'm pleased that Kuraray has agreed to make a capital investment in Amyris," Aya added.
Amyris and Kuraray launched their collaboration in 2011 with an initial focus on using Biofene-based polymers to replace petroleum-derived feedstocks in tires. During this time, Kuraray has developed Biofene-based liquid rubber (LFR) that reacts with tire rubber more easily than traditional materials and strengthens adhesion of rubber components to improve tire shape, stability, and performance. Today, leading tire manufacturers are conducting field, safety and performance tests of Kuraray's Biofene-based liquid rubber in their tire formulations with a number of these tests nearing conclusion. Also, during this period, Kuraray produced and began customer sampling and product evaluation for a new category of elastomers, Hydrogenated Styrenic Farnesene Copolymer (HSFC), which have shown to have improved flow properties and low residual strain, opening opportunities for vibration dampening product applications.
About the Companies
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 commercialization of Amyris's production in Brazil. For more information, visit the company's website at www.amyris.com.
Kuraray was established in 1926. In 1950, the company achieved a corporate milestone as the first in the world to bring polyvinyl alcohol synthetic fiber to market. In subsequent years, Kuraray used its proprietary technology in the area of polymer chemistry and synthetic chemistry to develop resins, chemicals, fibers and textiles, and other products for use in a wide variety of end applications. Kuraray has overseas subsidiaries in 19 countries. For more information, visit the company's website at www.kuraray.co.jp/en.
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 (such as the anticipated activities under and benefits of a collaboration, the closing of a sale of Amyris equity, commercialization of farnesene-based polymers, and the role of farnesene in improving the sustainability of the tire industry) 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 and 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 quarterly report on Form 10-Q filed on November 5, 2013. 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, the Amyris logo, Biofene and No Compromise are trademarks or registered trademarks of Amyris, Inc.