22 June 2010 16:21 [Source: ICIS news]
HOUSTON (ICIS news)--Brazilian sugar major Cosan and US biotechnology company Amyris plan to launch a joint venture (JV) to commercialise sugarcane-based renewable chemicals for automotive and industrial applications, the companies said on Tuesday.
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"We believe this JV will strengthen Cosan's downstream position in high value add chemicals," said Marcos Lutz, chief executive officer of Cosan. “Amyris’s technology can greatly expand the range and value of products that we can derive from our cane.”
Financial terms of the agreement were not disclosed.
Under the venture, the parties would jointly commercialise target products throughout the world, the companies said, adding they expected to complete a definitive agreement later this year.
Cosan is an integrated company in the sugar, ethanol and energy sectors with 62m tons/year of sugarcane crushing capacity.
Amyris designs microorganisms to produce molecules for use as renewable chemicals and transportation fuels. Its Brazilian subsidiary oversees a joint venture with sugar and ethanol producer Usina Sao Martinho.
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