Amyris gains more financing, begins Biofene production in Brazil
Amyris Inc. announced it has completed a $42.25 million private placement of its common stock. In addition,the company announced its purpose-built industrial fermentation facility in Brazil has successfully begun production of Biofene, Amyris's brand of renewable farnesene.
"We are encouraged by the continued, strong commitment from our major investors, particularly as we start up our new industrial fermentation facility for the production of our renewable hydrocarbons in Brazil," said John Melo, Amyris President & CEO. "Our own farnesene plant at Paraiso has been successfully commissioned,
with initial farnesene production underway. We anticipate sales from this facility during the first quarter of 2013."
The company sold 14,177,849 shares of common stock in a private placement to existing Amyris investors. The transaction included $37.25 million in cash proceeds and the conversion by Total Gas & Power USA, SAS of $5 million from an outstanding senior unsecured convertible promissory note. Additional details will be provided in the company's upcoming SEC filings.