EMERYVILLE, Calif., Oct. 6, 2015 (GLOBE NEWSWIRE) -- Amyris, Inc. (Nasdaq:AMRS), the industrial bioscience company, today announced the manufacturing of its third product produced this year at its industrial scale fermentation facility in Brotas, Brazil is now nearing completion. The product was a research and development target just 10 months ago and has now been successfully engineered, and scaled up with first shipments completed from the plant. Of the three products manufactured at the Amyris plant in Brotas this year, this product represents the second critical fragrance ingredient successfully developed and produced at industrial scale for an Amyris collaboration partner.
The company's strategic partners include 11 of world-leading companies, four of them being key market share leaders in the fragrance industry. In the flavors and fragrances portion of its business, Amyris has 17 molecules remaining under contract, with three of those molecules currently under development and two of them on track for anticipated large-scale production in 2016. The scale-up of the two molecules expected for 2016 would build upon Amyris's track record of delivering molecule targets to its customers approximately one year ahead of schedule, or less than 12 months from start of engineering to industrial production.
"We are very excited about our performance this year with execution of our third successful industrial fermentation product scale-up and first shipments completed for our latest fermentation product. This is another proof point in the predictable, breakthrough performance we are realizing with our HI-RYSE™ (Hyper-Integration for Rapid Yeast Strain Engineering) technology platform as we continue to apply this innovation to our extensive portfolio of products that are prioritized and funded by our partners," said John Melo, Amyris President & CEO.
"We expect our portfolio of contracted molecules to generate over $400M of annual product revenue at maturity and we are already realizing our target gross margin on products produced from this portfolio," continued Melo. "After a long and challenging road to predictable production and advantaged costs, we are well on our way to realizing our mission of enabling our partners to grow sustainably."
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.
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 Amyris's product revenue expectations for molecules currently under contract and its ability to successfully develop and scale-up new molecules in certain time frames, including two products for which the company expects to complete development and industrial production by 2016) 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 risks related to manufacturing capacity at Amyris's Brotas facility, 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 August 10, 2015. 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 and HI-RYSE are trademarks or registered trademarks of Amyris, Inc.