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Amyris has announced disappointing third quarter results as it revealed that aggregate revenues for the quarters ending 30 September 2012 were $19.1m versus $36.3m in the third quarter the previous year.
The decline in revenue is due to the company’s planned transition out of the ethanol and ethanol-based gasoline business, which is now complete. Partially offsetting this decline were increased revenues from other renewable product sales and collaborations, primarily related to the amendment of the company’s collaboration with Total.
John Melo, president and ceo of Amyris says: “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.
“Amyris’ industrial scale farnesne production facility at Paraiso is in the final stages of a successful commissioning and we remain confident about commercial production in early 2013.”