Amyris Looks To Personal Care As Growth Engine For Renewable Ingredients
This article was originally published in The Rose Sheet
Sustainable ingredients being developed by Emeryville, Calif.-based biotech Amyris Inc. have piqued the interest of big players in the personal-care and fragrance industries.
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Amyris, Inc. is developing 30 molecules using its bio-fermentation technology, negotiating a bio-manufacturing joint venture that could yield $50m-$100m in proceeds, and simplifying its Consumer portfolio to unlock value. Cost containment and liquidity will continue to be key priorities for the synthetic biotech firm while it targets up to 100% revenue growth in fiscal 2023.
The deal has Amyris selling three key cosmetic ingredients to Givaudan and producing more biotech ingredients for the Swiss firm over the long term. “In the future, we will continue to push the boundaries of biotech, creating new sustainable innovations for a better beauty future,” says Givaudan’s Maurizio Volpi, president, Fragrance and Beauty.
Renewable ingredients supplier Amyris is positioning itself as a go-to player in the sustainable cosmetics arena, projecting nearly $10 million in potential sales of cosmetic emollient squalane and announcing a new deal with Swiss fragrance house Givaudan.