Amyris Biotechnologies, Inc., a producer of renewable chemicals and transportation fuels, is securing funding to advance progress toward the company’s targeted 2011 first commercialization, including scale up and commercial plant design activities.
In recent months, the company has opened both a pilot plant and demonstration facility in Campinas, Brazil, and advanced its work with an established engineering, procurement and construction management firm to complete detailed plant design and engineering plans. Amyris is in the process of securing its first production site and expects to begin to order equipment for this plant toward the end of the year.
The company has raised $41.75m in the current Series C round, from new investors GrupoCornelioBrennand of Brazil and Naxos UK, as well as previous investors including Khosla Ventures, Kleiner Perkins Caufield & Byers, TPG Biotech and Votorantim Novos Negocios. Amyris anticipates additional closings this fall, targeting a total funding of approximately $60m.
Commenting on the financing, John Melo, Chief Executive Officer of Amyris, said: “This funding will enable us to continue to move aggressively toward this goal, and demonstrates investor confidence in our technology, our business strategy, and our execution on this strategy in both the U.S. and in Brazil”.