Total, Amyris Form Joint Venture to Turn Plants Into Fuels
The venture will begin operations in the first quarter of 2012, the companies said today in a statement. Total will also contribute $105 million to an existing $180 million research program that’s aimed at commercializing a process that converts organic sugars from plants into transportation fuels.
Amyris, the Emeryville, California-based biofuel company that’s 21 percent owned by Total, sells chemicals and transportation fuels made from plant sugars. The collaboration is an expansion of a partnership created in June 2010, when Total invested in Amyris. The venture will help Amyris commercialize its fuel products and provides Total with a new supply of fuel.
Shares of Amyris fell 0.2 percent to $10.40 at 10:15 a.m. in New York. Total rose 3 percent to 38.38 euros in Paris.
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