EMERYVILLE, Calif., Jan. 20, 2015 (GLOBE NEWSWIRE) -- Amyris, Inc. (Nasdaq:AMRS) announced today it plans to launch its first industrial cleaning products containing Amyris's Myralene™ renewable solvents through U.S. AutoForce and U.S. Lubricants, divisions of U.S. Venture, Inc.
This planned partnership will enable Amyris's high performance renewable industrial cleaning products to gain visibility and access to over 35,000 automotive aftermarket and industrial outlets served by U.S. Venture divisions.
"We are excited about the marketing capability of the U.S. AutoForce and U.S. Lubricants teams and committed to establishing a mutually-beneficial marketing collaboration that enables Myralene-based cleaning products to become preferred cleaning agents for the auto service industry and other industrial applications," said John Melo, President & CEO of Amyris, Inc.
Amyris has developed a best-in-class renewable solvent produced from plant sugars. The Myralene solvent is derived from Amyris's renewable hydrocarbon building block, farnesene. Myralene sustainably-sourced, VOC-exempt solvents provide a favorable viscosity profile, superior degreasing power, excellent thermal and hydrolytic stability, low odor, no color, and ready biodegradability.
"We're excited at the performance of the Myralene product line and the potential of combining our industry-leading distribution business with Amyris renewable products. Our access to a large variety of automotive aftermarkets and industrial consumers provides both of our companies with strong opportunities for growth," said John Schmidt, CEO of U.S. Venture, Inc.
"Amyris continues to deliver strong operational performance as we execute on our plan to deliver positive cash flow from operations in 2015. The initial customer feedback on products formulated with our renewable ingredients, such as our Myralene solvents, has been positive and underscores the potential growth in our No Compromise® product portfolio. Customers want better performing products that are competitively priced and do not damage the environment," concluded Melo.
About the Companies
Amyris is a global renewable products company providing sustainable alternatives to a variety of non-renewable resources. Amyris uses its innovative bioscience technology to convert plant sugars into hydrocarbon molecules. Amyris creates ingredients and is commercializing its No Compromise® products in the flavors and fragrances, cosmetics, specialty fluids, polymers, lubricants, and fuels industries. 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.
For over 60 years, U.S. Venture, Inc. has been recognized as an innovative leader in the distribution of petroleum and renewable energy products, lubricants, and tires and parts for the automotive aftermarket. Guided by its company vision, "To be the very best value-adding distributor of products that vehicles consume in North America," they deliver unconventional, creative solutions that give their customers a competitive edge. Headquartered in Appleton, Wisconsin, the company's business divisions are U.S. Oil, U.S. AutoForce®, U.S. Lubricants and U.S. Gain. More information about Amyris is available at www.usventure.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 (such as distribution and commercialization arrangements for a potential product line and expectations for sales growth, as well as benefits and attributes, of products formulated with Myralene) 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, regulatory approvals, 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 7, 2014. 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, Myralene and No Compromise are trademarks or registered trademarks of Amyris, Inc. All other trademarks are the property of their respective owners.