Following a year of emerging from Chapter 11 bankruptcy, Amyris is seeking to regain its footing with a renewed focus on its core competencies in sustainable ingredient manufacturing. Last month, Amyris announced that it had acquired full ownership of its precision fermentation plant in Barra Bonita, Brazil, by purchasing Ingredion’s 31% stake in their RealSweet joint venture. The JV was established in 2021 to develop and commercialize fermentation-derived Rebaudioside M (Reb M), a high-purity steviol glycoside known for its sugar-like taste and zero-calorie profile. Reb M is produced in Barra Bonita using Amyris’s precision fermentation technology.

This dissolution of the JV will enable Amyris to have complete control over the Barra Bonita facility, enhancing its capacity to produce other fermentation-derived ingredients. Ingredion will have exclusive rights to utilize Amyris’s fermentation technology for the production and commercialization of Reb M. In November 2023, Ingredion announced a significant investment to expand the production capacity of its subsidiary, PureCircle, at its stevia production facility in Malaysia. This expansion aims to quadruple Ingredion’s output of stevia ingredients, including Reb M.

At the Barra Bonita plant, Amyris is completing the construction of its fourth precision fermentation line, which is expected to be operational in early 2026. The investment, announced last November, will increase Amyris’s capacity and flexibility for producing specialty ingredients.

Amyris was previously publicly traded on the NASDAQ stock exchange under the ticker symbol AMRS. The company filed for bankruptcy in August 2023. To support its reorganization, Amyris secured $190 million in debtor-in-possession financing, which facilitated continued operations during the bankruptcy process. Following bankruptcy, the company entered into an Amended and Restated Loan Agreement, which provided up to $160 million in new financing to support its revitalized business model.

As part of its restructuring, Amyris consolidated its research and development activities, focusing efforts in the United States and Brazil. Consequently, the company ceased funding its Portuguese subsidiary, Amyris Bio Products Portugal Unipessoal, which specialized in fermentation byproducts and waste, areas no longer aligned with Amyris’s strategic direction. During its restructuring, Amyris divested several assets, including the following:

Consumer Brands Sold at Auction

1. Biossance
   Acquired by THG Beauty (The Hut Group) for $20 million. Biossance was Amyris’s flagship skincare brand, renowned for its sugarcane-derived squalane products.
2. MenoLabs
   Sold to Dr. Reddy’s Laboratories for $3 million. This brand specializes in supplements targeting perimenopause and menopause symptoms.
3. Pipette
   Acquired by HRB Brands for $1.75 million. Pipette focused on clean baby and maternal skincare products.
4. 4U by Tia
   Purchased by Scent Theory Products for $600,000. This textured haircare line was developed in collaboration with actress Tia Mowry.
5. JVN Hair
   Acquired by Windsong Global for $1.25 million. The brand was co-founded with Jonathan Van Ness and emphasized clean haircare solutions.

Brands Shut Down or Discontinued

• Costa Brazil
  Initially shuttered by Amyris, it was later acquired by its founder, Francisco Costa, for $350,000.
• Onda Beauty
  Closed during the restructuring process. Co-founder Larissa Thomson subsequently repurchased the brand for $220,000.
• EcoFabulous
  Discontinued as part of the company’s strategic exit from consumer brands.
• Terasana
  Shut down during the restructuring phase.
• OlikaDifferent
  Operations ceased amid the company’s financial reorganization.

Brands with Uncertain Status

• Rose Inc.
  A cosmetics brand co-founded with Rosie Huntington-Whiteley; its future remains uncertain post-bankruptcy.
• Stripes
  A menopause-focused brand launched with Naomi Watts; its status post-restructuring is unclear.

Ingredient Business Divestiture

• Neossance® Squalane, Neossance® Hemisqualane, and CleanScreen™
  In February 2023, Amyris sold these key cosmetic ingredients to Givaudan for $200 million in cash and up to $150 million in performance-based earnouts. Amyris continues to manufacture these ingredients under a long-term partnership agreement.

There is currently no publicly available information on the specific ownership structure of the company or identifying the current shareholders of the re-organized private entity. Before bankruptcy, Amyris reportedly had in its portfolio 16 unique biological and semi-synthesized ingredients that were developed, scaled, and commercialized; 33 ingredients in active development; and 250 molecules in its library, utilizing proven strains.

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