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Amyris Meets Major Milestone at Its Farnesene Production Facility



Published October 14, 2013
Amyris, Inc., a leading renewable chemicals and fuels company,
announced that its farnesene plant in Brazil has achieved the
production run rate of 1 million liters over a 45-day period. Amyris's
Chief Executive Officer John Melo will speak later today at the
Advanced Biofuels Leadership Conference (ABLCNext) today in San
Francisco, California.

"Our farnesene plant in Brazil is operating well, meeting our
technology, volumetric and cost targets. With all six fermentors
running as planned and with our ongoing production rate, we are on
track to achieve our year-end cost targets. Our plant at Brotas is
expected to produce more farnesene this year than we produced in our
entire prior contract manufacturing operations combined. All told, we
have surpassed the 5 million liter production mark," said John Melo in
his prepared remarks.

"More importantly, we are growing the market with new, innovative
products. Using a blend of renewable diesel, public transit buses in
Brazil's largest cities have logged well over 15 million miles,
improving performance while reducing emissions. Our cosmetics business
has grown over 80% year-on-year following the introduction of
Neossance(R) Squalane, our renewable version of this premium
emollient," Amyris's CEO added.

The Amyris production facility, located adjacent to the Paraiso
sugarcane mill in Brotas, Sao Paulo in Brazil, began commercial
operations at the beginning of 2013 and had all six fermentors running
in July to align with commercial volume needs. Amyris's farnesene is a
renewable hydrocarbon molecule addressing growing demand in a broad
range of applications, from diesel and jet fuel to high-performance
materials.

ADDITIONAL FUNDING RECEIVED

Amyris's CEO also noted the Company's successful efforts to secure
financing saying, "As we announced earlier this week, we received a $35
million loan to provide bridge financing until the closing of the first
tranche of our pending convertible note financing, which we expect in
the coming weeks."

"By producing 1 million liters of farnesene in a 45-day period, we have
surpassed the production performance milestones under the purchase
agreement for the financing and are on track to meet the remaining
milestones," Melo concluded.

In August 2013, Amyris entered into an agreement for a private
placement of senior convertible promissory notes for approximately $60
million in cash proceeds. Two of Amyris's leading stockholders
committed to purchase the notes in two tranches. By achieving 1 million
liters of production in a 45-day period, Amyris satisfied one of the
two conditions required to avoid a reduction in the conversion price of
the first-tranche notes (the other being a target for gross margins
from product sales) and one of the key closing conditions for the
second tranche. Additional information regarding the terms of the
financing, including detailed discussion of the triggers for conversion
price adjustments and additional closing conditions, is provided in
Amyris's regulatory filings.


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