Corrected: US Amyris sees $300m revenue from bio-based plastic additives

23 February 2011 21:58  [Source: ICIS news]

Correction: In the ICIS story headlined “US Amyris sees $300m revenue from bio-based plastic additives” dated 23 February 2011, please read in the first paragraph …US renewable chemical company Amyris expects potential revenues of around $300m/year (€219m/year) for its farnesene-based bioplastic additives, the chief executive said on Wednesday … instead of … Starting in the first half of 2012, US renewable chemical company Amyris is expecting a potential $300m/year (€219m/year) revenue for its farnesene-based bioplastic additives, a company official said on Wednesday …. In the fourth paragraph, please read … chief executive John Melo … instead of … chief financial officer Jerri Hilleman …. In the fifth paragraph, please read …Melo … instead of … Hilleman …. Please read the sixth paragraph as … Sales to M&G could reach $300m/year, he added …. A corrected story follows.

NEW YORK (ICIS)--US renewable chemical company Amyris expects potential revenues of around $300m/year (€219m/year) for its farnesene-based bioplastic additives, the chief executive said on Wednesday.

Amyris has developed its platform molecule, called farnese, that can serve as a base chemical building block using sugarcane as feedstock.

Amyris has partnered with Italy-based Mossi & Ghisolfi (M&G) in June to supply the company with farnesene for use as a plastic additive in M&G’s production of polyethylene terephthalate (PET).

The beverage company Coca-Cola is M&G’s largest PET customer, said Amyris chief executive John Melo, during a presentation at the Jefferies Clean Technologies conference in New York.

“M&G will use our sugar-based farnesene as an alternative to petroleum-based oxygen scavengers for their PET,” Melo said.
Sales to M&G could reach $300m/year, he added.

Amyris is also currently working on other farnesene-based polymers and said that they expect to announce another partnership in this area.

Amyris’ farnesene is also being developed in applications such as flavours and fragrance, lubricants, consumer product ingredients and fuel.

The conference ends on Thursday.

($1 = €0.73)

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By: Doris de Guzman
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