Amyris net loss widens in Q2 2012

Aug 1, 2012 - US renewable chemicals and fuels firm Amyris Inc (NASDAQ:AMRS) on Tuesday said its net loss widened to USD 46.8 million (EUR 38.1m) in the second quarter of 2012 from USD 42.6 million a year earlier.

Net loss per share was USD 0.81, compared with USD 0.95 a year back, while non-GAAP net loss expanded to USD 37.9 million, or USD 0.66 per share, from USD 34.7 million, or USD 0.78 per share.

Revenues in the three months through June fell to USD 19.3 million from USD 32 million as a result of the wind-down of the company's ethanol and gasoline trading unit, Amyris Fuels.

At the end of the quarter, Amyris had USD 67.1 million of cash, cash equivalents and marketable securities.

Chief executive John Melo said that during the period the company had shrunk its contract manufacturing business and cut operating costs, while continuing to advance its technology and commercialisation operations. Melo added that the company's industrial-scale farnesene plant at Paraiso in Brazil was on target and in a process of initial commissioning.

Earlier on Tuesday, Amyris unveiled a deal to beef up its partnership with Total (EPA:FP), whereby the French oil and gas group would provide up to USD 82 million over three years for the development of Biofene, Amyris' renewable farnesene, for renewable diesel and jet fuel production.

(USD 1.0 = EUR 0.813)

Choose your newsletter by Renewables Now. Join for free!