Home > News > featured news > AMYRIS AND MINERVA FOODS COMPLETE JOINT VENTURE AND LICENSE AGREEMENTS TO SCALE LOW CARBON PROTEIN PRODUCTION PLATFORM

FOOD SYSTEMS

AMYRIS AND MINERVA FOODS COMPLETE JOINT VENTURE AND LICENSE AGREEMENTS TO SCALE LOW CARBON PROTEIN PRODUCTION PLATFORM

AMYRIS | December 24, 2021

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

Spotlight

Initial observations on guidance relating to clean vehicle credit under section 30D

The whitepaper provides some helpful information regarding the expected application of the Critical Mineral Requirement and the Battery Component Requirement. For instance, the whitepaper provides some useful clarifying information such as stating that “critical minerals” for purposes of section 30D refers to the applicable critical minerals defined in the Section 45X (the advanced manufacturing production tax credit) and identifying what items are included as battery components.

More featured news

Spotlight

Initial observations on guidance relating to clean vehicle credit under section 30D

Related News

TRANSPORTATION

Minesto Collaborates TCCGE for Tidal and Ocean Current Energy Built

Minesto | March 02, 2023

Minesto, an ocean energy developer, has recently entered a collaboration agreement with Taiwan Cement Green Energy (TCCGE) for tidal and ocean current energy built out in Taiwan, establishing its market position in Asia. This agreement covers assessments of the economic and technical feasibility of the selected sites, site development and applications for feed-in tariffs. The large share of fossils, about 95%, depends on the ocean energy resource in Taiwan. With advanced technologies, the energy transition in Taiwan is moving forward in this area. In 2022, it introduced a new ocean energy electricity feed-in tariff to support the renewable energy transition. Minesto would bring an innovative solution for renewable energy with unique underwater kites that are faster than a stream, generating clean electricity from the movement of water. It also provides site development, operations, service and maintenance. CEO of Minesto, Dr. Martin Edlund said, "Taiwan Cement is an experienced and successful developer of renewable energy production in Taiwan with a strong focus on pioneering projects and an openness for new technologies. Minesto's Dragons are still in the early stage of commercial deployment, and that makes this collaboration even more valuable for us, them and Taiwan." (Source – Cision PR Newswire) Project Manager of Minesto Taiwan, Dr. Yung-Lung Chen said, "Our long-term commitment to Taiwan can finally bear fruit. We are looking forward to working with one of the strongest and most renowned companies in Taiwan to seek synergies in local production and supporting infrastructure while leveraging on Taiwanese manufacturing and technology strengths." (Source – Cision PR Newswire) About Minesto Headquartered in Vastra Frolunda, Vastra Gotaland County, Minesto, renewable energy semiconductor manufacturing company offers solutions for technology development, ocean energy, tidal energy, renewable energy, engineering, offshore renewables, energy transition, climate change, and sustainability. It has been striving to decrease the global carbon footprint of the energy industry through commercial clean energy production from ocean currents and tidal streams since 2007. Its patented product Deep Green, a subsea kite technology, is a cost-effective measure of sustainability. It is listed on the Nasdaq First North stock exchange and operates in Sweden, Wales, Northern Ireland and Taiwan.

ENERGY

Apex Signs Offtake Agreement with Meta for Huge Clean Energy Generation

Apex Clean Energy | January 31, 2023

On January 30, 2023, Apex Clean Energy signed an Environmental Attribute Purchase Agreement (EAPA) with Meta to generate total renewable energy in the Angelo Solar Project with a 195 MW facility, supporting the regional operations in Tom Green County (Texas). The Angelo Solar Project will generate around $31.7 million in tax revenue for the local community, approximately $22 million in landowner payments, and about 400 jobs during construction, with commercial operations expected in early 2024. The other earlier declared transactions would continue to manifest between Apex and Meta, like an 80 MW EAPA with Altavista Solar, 197 MW with Jayhawk Wind, 175 MW with Lincoln Land Wind, 200 MW with Aviator Wind East, and 225 MW with Great Pathfinder Wind, along with this agreement. President and CEO of Apex Clean Energy, Mark Goodwin, said, “The success of our company and our mission, to accelerate the shift to clean energy, relies on partnerships with first movers like Meta that have set ambitious standards driving the energy transition. He added, “As we advance our sixth project alongside Meta, this portfolio, now totaling more than a gigawatt, represents a diverse set of best-in-class wind and solar projects in markets across the United States.” (Source – Business Wire) Urvi Parekh, Head of Renewable Energy at Meta, said, “We appreciate Apex’s partnership in helping us bring a total of one gigawatt of new renewable energy to the grid across Texas, Virginia, Illinois, Kansas, and Iowa.” She added, “This new solar project will support our commitment to 100% renewable energy and will help bring jobs and investment to the local community.” (Source – Business Wire) About Apex Clean Energy Apex Clean Energy generates clean energy with a diverse portfolio of about 40 gigawatts. At its headquarters in Charlottesville (Virginia) and nationwide, 400 specialists are working on its projects. Its renewable frontiers are wind, solar, storage facilities, distributed energy resources, and green fuel technologies in North America. Established in 2009 as a modest start-up, the company has grown into a successful business that encourages employee initiative and autonomy.

SOLAR+STORAGE

CPS Energy Completes Its FlexPOWER Bundle℠ Initiative

CPS Energy | February 10, 2023

On February 09, 2023, CPS Energy, a utility company, reached agreements with three companies, completing its FlexPOWER Bundle initiative, which was released as a Request for Proposal (RFP) in 2020. This initiative will deliver 580 megawatts (MW) of solar, 500 MW of natural gas and 50 MW of storage capacity of green energy. In addition, CPS Energy will release a separate RFP for adding 320 MW of solar capacity, including solar community proposals, and update its generation portfolio. Regarding the agreements, Calpine, a power company, will provide approximately 500 MW of firming capacity; Ashtrom Renewable Energy firm, in collaboration with OnPeak Power, will provide 100 MW; and green energy investor Eolian will grant exclusive rights for 50 MW of energy storage. San Antonio Mayor, Ron Nirenberg, said, "When we launched the FlexPOWER Bundle, we cast an international net to see what new technologies we could procure for our community." He added, "These last three agreements signify years of hard work and will provide reliable generation to our community. We look forward to our new partnerships and what they will mean for the City of San Antonio." (Source – Cision PR Newswire) President and CEO of CPS Energy, Rudy D. Garza, said, "Securing these last three agreements marks the end of a more than two-year long process that the CPS Energy team has been working diligently on." He added, "The FlexPOWER Bundle was created to further diversify our generation mix, which we have accomplished, and we look forward to continuing to add solar capacity to our portfolio with a new 320 MW RFP to be launched in the coming months." (Source – Cision PR Newswire) About CPS Energy Headquartered in San Antonio, Texas, CPS Energy, a municipally owned electric and natural gas company, is providing secure, affordable services across the Greater San Antonio area. It focuses on job creation, educational investment, clean energy investment, and economic development as a community partner. With employees' volunteerism and commitment to the community, it has conducted programs that add value to the customers, offering reliable power along with sensitivity towards the environment. Its partners include companies working for clean energy, efficiency, and innovation, especially in solar power. It specializes in the fields of public utilities, renewable energy, electricity, and natural gas