France-based energy major Total has reaffirmed its
partnership and financial backing to the technology of US renewable products
company Amyris, the companies said on Tuesday.
Total dedicated an $82 million funding budget over the next
three years exclusively for the deployment of Biofene,
Amyris's renewable farnesene, for production of renewable
diesel and jet fuel.
Upon completion of the research and development program,
Total and Amyris intend to form a joint venture company that
would produce and market renewable diesel and/or jet fuel, as
well as non-exclusive rights to other specialty products, the
Today we reaffirm our strategic relationship with
Total to achieve our joint development and commercialization
objectives for renewable diesel and jet fuel, said John
Melo, CEO of Amyris.
In addition to Amyris' continued development of jet
and diesel businesses in Brazil independently, this enhanced
collaboration provides a global platform for the future growth
in fuels under a future joint venture with Total, Melo
With this refocused partnership, we'll reach our
business objectives, expand our ability to become a key
supplier in renewable fuels and better meet our customers
highest demands, said Philippe Boisseau, president of
supply/marketing and a member of Total's executive
Under Tuesdays announcement, Total agreed to fund $30
million during the third quarter of 2012. Additional funding
will be triggered by Total at annual decision points in
mid-2013 and 2014, the company said.
Amyris and Total have had a successful research
partnership since 2010 and we continue, through this amended
collaboration, to pursue our shared strategy of building the
world's leading renewable technology platform, said Dr.
Arthur D. Levinson, chairman of the board of directors of
Today's agreement deepens this long-term partnership
and enables Amyris to continue investing in its core technology while accessing the
market know-how and scale-up capability of Total.