Amyris (Nasdaq: AMRS) has inked a deal with French oil giant Total (TOTF.PA) to jointly develop, produce and commercialize biofuels for the aviation industry.
Total, which bought a majority stake in solar leader SunPower earlier this year, also owns a 20% stake in Massachusetts-based Konarka, which makes organic solar cells, as well as 22% of Amyris, as part of its strategy to diversify into solar and biofuels. It is the fifth largest oil and gas company in the world.
Total and Amyris will form a 50-50 joint venture company that will have exclusive rights to produce and market biodiesel and jet fuel worldwide, and non-exclusive rights to other products derived from Biocene, such as drilling fluids, solvents, polymers and specific biolubricants. The venture will begin operations early next year.
They will also expand their ongoing R&D collaboration to accelerate deployment of Biofene® for use as diesel. Total will contribute $105 million to the $180 million program.
About Amyris
Amyris is focused on providing petroleum substitutes for a wide range of projects. Besides jet fuel, its oils can be used as ingredients in cosmetics, flavors and fragrances, polymers, lubricants and consumer products.
Its Biofene process genetically modifies yeast, which through fermentation convert plant sugars into a variety of hydrocarbon molecules which can be used as base oils.
The company has labs and a pilot plant in California and a pilot plant and demonstration facility in Brazil, where it’s expanding.
Its Amyris Fuels division has fuel distribution capabilities in the US.
Amyris says its biodiesel delivers the same energy density, engine performance, and storage properties as petroleum diesel, as well as improved lubricity and superior cold weather performance.
"Total aims to become a key supplier in renewable fuels," says Philippe Boisseau, President of Gas & Power at Total. "Renewable fuels produced with Amyris’s advanced technology will benefit from the know-how and customer access of Total, which operates in more than 130 countries. It will strengthen Total’s position in the global renewable diesel market, which is projected to nearly double in size to 32 million tons in 2020 from 17 million tons in 2010."
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