Listed US-based renewable energy and fuel company Amyris closed an $83.7m stock placement on Monday which saw participation from the Singapore government-backed Temasek Holdings and oil and gas corporation Total Gas & Power among others.
Also participating in the round were Naxyris, a subsidiary of investment firm NAXOS Capital Partners, as well as Biolding Investment, which is backed by Sheikh Abdullah bin Khalifa Al Thani, and investment entities backed by Amyris directors John Doerr of Kleiner Perkins Caufield & Byers (KPCB) and Fernando Reinarch.
In addition to the common stock placement, Biolding committed to investing $15m in Amyris, subject to the commissioning of a production plant in Brazil run jointly by Amyris and bioenergy company Paraíso Bioenergia.
Founded in 2003, Amyris provides renewable products services that cover both therapeutic and alternative energy needs. The funding coincides with the publishing of Amyris’ financial results for the final quarter of 2011. Revenue was up to $147, from $80.3m in 2010.
Amyris floated on NASDAQ in October 2010, raising $85m, after raising more than $225m from backers including industrial conglomerate the Vorantim Group, venture capital firms KPCB, DAG Ventures and Khosla Ventures, and private equity firm TPG. $7m of equity was added in October 2011.
In conjunction with the financing, Temasek, Biolding and Naxyris will all gain a seat on Amyris’ board of directors, though the investors have not yet named who will take each seat.