Amyris Biotechnologies’ reputation as one of the more closely watched bio-fuels startup is secure.
The new money will be used to accelerate the development of Amyris' bio-fuel
The Emeryville company announced two days ago it raised another $24.75 million and now says it expects to complete the rest of an estimated $62 million Series C round by this fall.
The round is being led by existing white-shoe investors: Khosla Ventures and Kleiner Perkins Caufield & Byers. TPG Biotech and the Brazilian conglomerate Votorantim Novos Negocios also are leading the round.
The company is among the highest profile startups attempting to use a bio-engineered form of yeast to convert sugar cane into a variety of renewable fuels and chemicals, including a diesel replacement. In June, it showed off a demonstration facility built in the heart of the Brazilian sugar cane processing industry.
The company plans to use the $24.75 million it raised to accelerate the development of its bio-fuel operations. The plan is to begin commercializing the fuels and chemicals in 20i1, with a goal of producing 200 million gallons a year.
The company had previously raised $120 million.
Jean-Baptiste Su
Mark Boslet
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