Amyris, Inc. a leading synthetic biotechnology company accelerating the world's transition to sustainable consumption through its Lab-to-MarketTM operating platform, announced the completion of a previously announced joint venture agreement with MF 92 VENTURES LLC ("Minerva"), a Minerva Foods subsidiary, to develop molecules for the sustainable production and distribution of animal protein ("the Joint Venture").
The Joint Venture between Amyris and Minerva will be focused on enhancing the sustainability of the Brazilian meat exporting market, which is the largest in the world. Minerva and Amyris will collaborate on the development, scale-up and production of new target molecules, which Minerva will fund and bring to market commercially. The new molecules will target several sustainability objectives, including improving and lowering the carbon intensity of producing animal protein; sustainable packaging; and fermentation-based, natural preservatives that facilitate the transport of meat around the world. Additionally, the parties expect to work on the production of fermentation-based protein as an alternative to animal-based protein.
Relevant regulatory approvals have been attained for the development and scale-up of a vertical technology and commercialization platform that aims to transform the way protein is produced. The Joint Venture is expected to generate first license revenue for Amyris before the end of 2021 and deliver first commercial production of its initial targets in 2022.
We are very pleased to partner with Amyris, the leader in synthetic biotechnology and the world's leading fermentation technology company. We have a strong track record of commercializing innovative technologies for producing animal protein and reducing carbon emissions. With Amyris' clean fermentation technology, we expect to lead the disruption of the animal protein industry and reduce our industry's carbon footprint."
Fernando Galletti De Queiroz, Chief Executive Officer of Minerva
We are excited to further expand the reach of our technology and manufacturing expertise through our partnership with Minerva Foods. We believe this collaboration will accelerate the commercialization of natural, sustainably produced molecules that are capable of transforming the production and supply chain of animal protein. We have a proven track record in biotechnology of developing and scaling molecules that are transforming several vertical markets. We are executing well and are on track for a strong fourth quarter."
John Melo, President and Chief Executive Officer of Amyris