Amyris scales down Biofene production

Sustainable-energy company Amyris Inc. said it was scaling back on its plant expansion to just one, instead of two, this year. As a result, the company said it was withdrawing its 2012 production guidance of between 40 million liters and 50 million liters of Biofene®. a renewable hydrocarbon building block made using Amyris’ technology. Amyris converts plant sugars into hydrocarbon molecules, which can be used in a range of products such as cosmetics, flavors, fragrances, lubricants, diesel and jet fuel. In addition, the Emeryville, Calif.-based company said it no longer expects positive cash flow from operations this year and said it will cover the gap by seeking extra equity financing. Amyris said it expects to close on the financing in the next few weeks. John Melo, president and chief executive officer, said that the company wants to focus on quality, rather than producing “volume for the sake of volume.” Melo said that the new focus on quality over quantity hasn’t changed the company’s long-term plans and that its growth strategy remains on track. (February 11, 2012)