The company sold 14,177,849 shares of common stock to its existing investors and the transaction included $37.25m in cash proceeds; conversion by Total Gas & Power USA of $5m from an outstanding senior unsecured convertible promissory note.
In addition to the transaction, the company has also started the production of Biofene, the company’s brand of renewable farnesene at its new industrial fermentation facility in Brazil.
Amyris president & CEO John Melo said that the company has the support of its majority investors who are committed to its new industrial fermentation facility.
"Our own farnesene plant at Paraiso has been successfully commissioned, with initial farnesene production underway. We anticipate sales from this facility during the first quarter of 2013," Melo concluded.
