Amyris Inc., the industrial bioscience company, has announced an update and clarification with respect to media reports regarding its inactive manufacturing joint venture with Usina São Martinho, SMA Indústria Química S.A, or SMA., noting that, at present, its existing Brotas facility is exceeding targets and provides adequate capacity to meet its near and mid-term business needs. Amyris has been in discussions with São Martinho and is considering how the joint venture could best benefit Amyris’s future production capacity and achieve investment returns comparable to or better than Amyris’s best-in-class fermentation plant in Brotas. Based on these discussions, Amyris and São Martinho have agreed to explore, over the next 60 days, the best options for the joint venture.

“We are excited about the continued strong performance and our ability to exceed our production and cost targets at Brotas,”said John Melo, president and CEO of Amyris. “Current production capacity at our Brotas facility meets our near- and mid-term growth plans and we have better economic options than our agreement with São Martinho initially contemplated. We are engaged in working towards a mutually beneficial agreement with São Martinho over the next 60 days. We continue to enjoy a strong presence and relationships in Brazil, including our more than 150 employees, our collaboration with Cosan, and our growing sales in personal care and industrial products for the Brazilian market.”

Amyris noted that the flexibility at the Brotas plant and space available potentially allows the company to double the capacity of this plant when required. In addition, the company is evaluating with São Martinho the best investment options available to determine which scenario would provide the best returns and balanced economics for both parties.