Amyris, Inc. (NASDAQ: AMRS), a leading renewable chemicals and fuels company, announced that it has received final approval from the Brazilian Development Bank (BNDES) for a R$ 22 million project financing facility for Amyris Brasil Ltda.’s first industrial-scale production facility located in Piracicaba, São Paulo.
“We are very appreciative of the confidence shown by BNDES in approving funding for the first of our Brazilian production facilities,” said John Melo, CEO of Amyris. “This relationship demonstrates the important role BNDES can play in enabling our technology to add value to the sugarcane sector. The funds support our investment in production capital expenditures, and we look forward to expanding our relationship with BNDES and the Brazilian government as we advance on our production of renewable chemicals and fuels in the country.”
“BNDES sees great potential in green-chemistry projects that add new technologies to the sugarcane sector, where Brazil is competitive and the world leader,” said Roberto Zurli Machado, Director of BNDES.
Amyris is scaling its Biofene production in Brazil, Europe and the United States through five production arrangements. Earlier this year, Amyris began operations of its first production facility located in Piracicaba, São Paulo, Brazil at a facility owned by Biomin do Brasil Nutricão Animal Ltda., a company focusing on animal nutrition. Amyris is currently building additional dedicated facilities in Brazil at Usina São Martinho S.A., one of the largest sugar and ethanol producers in Brazil, and at Paraíso Bioenergia S.A.
Source: Amyris, Inc., press release, 2011-11-01.