US renewables firm Amyris lands govt loan for Brazil project

01 November 2011 21:41  [Source: ICIS news]

HOUSTON (ICIS)--Amyris will receive a loan of Brazilian reais (R) 22m ($13m, €9m) from Brazil's Development Bank (BNDES) to finance its renewable farnesene project in the country, the US renewable fuels firm said on Tuesday.

Amyris last week announced a deal with Brazilian ethanol maker ETH Bioenergia, which will give the company access to up to 2m tonnes/year of sugarcane to produce renewable farnesene. Production is scheduled to begin in 2014, the company said.

Amyris' renewable farnesene is branded Biofene.

($1 = R1.70) ($1 = €0.72)

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By: William Lemos
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