Amyris says biofene sales rise 35% as Q3 results released
In California, Amyris announced its highest farnesene production volumes at the lowest quarterly unit costs to date, as part of its third quarter financial results package.
“We expect continued growth in 2014 in new areas such as lubricants, specialty fluids and polymers,” said John Melo, Amyris President & CEO, who confirmed that “we are on the right track to achieve our objective of positive cash flow from operations in 2014 and profitability in 2015,”
In Q3, the company said it operated with all six fermentors during the entire quarter at the Company’s farnesene production facility in Brotas, São Paulo, Brazil, and reduced its quarterly average farnesene production cash cost to less than $5 per liter. The company said that combined sales of Neossance Squalane emollient, renewable diesel for niche markets, and farnesene for the lubricants market were in line with previous quarter and 35% higher than same period in 2012.
Overall, the company reported revenues of $7.0 million compared to aggregate revenues of $19.1 million in the third quarter of 2012, noting that 2012 results included $1.7 million of sales related to the Company’s ethanol and ethanol-blended gasoline business, a business which the Company transitioned out of in the third quarter of 2012. The $4.1 million was related to renewable product sales compares with $3.0 million in Q3 2012. GAAP net loss attributable to common stockholders for the quarter was $24.2 million ($0.32 per share) compared to a loss of $20.3 million ($0.34 per share) in the comparable quarter of 2012.
Category: Fuels
