Prominent Investors Include DAG Ventures, Khosla Ventures, Kleiner Perkins
Caufield & Byers, and TPG Ventures Strong Endorsement of Technology Pioneer at Forefront of Developing No-
EMERYVILLE, Calif., Sept. 19 /PRNewswire/ -- Amyris Biotechnologies, an innovator in the development of renewable hydrocarbon biofuels, today announced that it closed the first tranche of its $70 million Series B funding. Duff Ackerman & Goodrich Ventures (DAG Ventures) led the financing and was joined by existing Series A investors, including Khosla Ventures, Kleiner Perkins Caufield & Byers, and TPG Ventures. The Series B funding will be used to further the development and scale up of its technology for the production of three transportation biofuels: bio-gasoline, bio-diesel, and bio-jet, and to support business initiatives to enable Amyris to bring its biofuels to market as early as 2010.
"Amyris has not only a break-through technology but a clearly defined strategy to commercialize a promising slate of next-generation biofuels that could have a profound impact on the transportation market," said R. Thomas Goodrich at DAG Ventures. "We are investing with strong confidence in what Amyris is creating as well as the management and scientific team the company is putting in place to execute on its vision."
"No-compromise transportation fuels derived from renewable sources hold substantial promise for meeting the tremendous need for alternative energy sources in the future," said John Melo, CEO of Amyris. "We have already succeeded in creating these biofuels in our lab. We are delighted with the strong interest in our Series B funding which will enable us to continue the research and scale-up of our technology and to implement our business model as the first biofuels company to go from production to customer."
Amyris pioneered a unique technology platform that allows it to use a
|SOURCE Amyris Biotechnologies|
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