Amyris, ETH Bioenergia invest $3bn in renewable energy

23 October 2011 (Last Updated October 23rd, 2011 18:30)

Renewable chemicals and fuels company Amyris, in partnership with ETH Bioenergia, has signed a memorandum of understanding (MoU) for the formation of a joint venture to produce Biofene, Amyris’s renewable farnesene, in Brazil.

Renewable chemicals and fuels company Amyris, in partnership with ETH Bioenergia, has signed a memorandum of understanding (MoU) for the formation of a joint venture to produce Biofene, Amyris's renewable farnesene, in Brazil.

The firms have invested R$6bn ($3bn) and plan to invest an additional R$2bn ($1.1bn) to generate 3bn litres of ethanol and 2,700 GW/h of electric energy by 2013.

As per the agreement, the joint venture will access up to two million tons of sugarcane crush capacity per year at one of ETH's greenfield mills in Brazil.

Amyris CEO John Melo said the company will be able to market renewable products made from Biofene produced at one of ETH's new mills.

"Through this joint venture with ETH, and other agreements already announced in Brazil, Amyris now has access to 15 million tons of sugarcane crush capacity for our production," Melo said.