11 December 2009 17:29 [Source: ICIS news]
SAO PAULO (ICIS news)--Amyris Brasil and local sugar and three ethanol producers seek to diversify the use of sugarcane toward more value-added products, a company official said on Friday.
“We believe this is another step in the right direction of diversifying the use of sugar cane towards more value added products,” said Roel Colliers, Amyris Brasil general director. Amyris Brasil is a subsidiary of Amyris Biotechnologies.
Letters of intent signed by Amyris and Brazilian producers are aimed at partnering the production of high value renewable specialty chemicals and fuels produced from sugar cane to be distributed by Amyris, Cosan, Acucar Guarani and Bunge, the company said.
The letters of intent follow the announcement on 3 December that Amyris would acquire a 40% stake in the Boa Vista mill, owned by Sao Martinho Group.
According to the Amyris, the potential deal is under study and the company is in the phase of obtaining the financial resources for the investment
According to press reports, Amyris would invest $50m (€34m) in each mill. However, the company did not offer detailed investment figures.
Amyris said in a press release that it intends to bring its renewable fuels and chemicals to market by 2011 through production at the Boa Vista mill.
The agreements with Bunge, Cosan and Guarani should cover Amyris’ planned production through 2013-2014, it said. Combined with Boa Vista mill, the crushing capacity would be over 12m tonnes/year, Amyris said.
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