Amyris reports third quarter 2012 financial results

Renewable chemicals and fuels company Amyris has recorded declining financial results for the third quarter ending September 2012.

Aggregate revenues for the quarter were posted at $19.1 million (€15 million) versus $36.3 million in the same quarter 2011. The company puts the decline in revenue down to the planned transition out of the ethanol and ethanol-blended gasoline business, which is now completed.

Some positive news came via increased revenues from renewable product sales and collaborations, primarily related to the amendment of Amyris’ collaboration agreement with Total.

‘During the third quarter, we realised the benefits of our focused strategy with lower operating costs and increased sales of our renewable products. Our technology improvements continue and our commercialisation activities remain on track,’ says Amyris CEO John Melo.

Total research, development and sales, general and administrative expenses declined 26% to $33.1 million for the quarter when compared to 2011, with Amyris pointing at lower compensation and benefits expense as the main reason.

‘Our industrial-scale farnesene production facility at Paraíso is in the final stages of a successful commissioning and we remain confident about commercial production in early 2013,’ Melo adds as another positive.