08 August 2013 14:51 [Source: ICIS news]
HOUSTON (ICIS)--US renewable chemicals and fuels firm Amyris said on Thursday that Singapore government fund Temasek has agreed to invest an additional $60m (€45m) in the company.
Amyris said that Temasek agreed to buy up to $60m in convertible notes in a private placement. Temasek is already an Amyris stockholder, investing $50m into the company in mid-2010.
Amyris said that the proceeds from the sale of the convertible note would "provide financial flexibility as Amyris scales up production and commercial sales of renewable hydrocarbons." It did not specify in what projects the funds would be invested.
"This financing agreement is an affirmation of our largest stockholders' continued support for our strategy," said Amyris CEO John Melo.
Temasek will buy the notes in two tranches. The agreement with Temasek is subject to Amyris’ stockholder approval and other closing conditions, Amyris added.
($1 = €0.75)
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