U.S. companies Amyris technology for renewable products, and Total, focused on operations of oil and gas, announced on Tuesday (July 31) contracts to expand collaborative research and development (R & D) and form a joint venture to develop, produce and sell biofuels and other renewable products.
One of the objectives of the agreement is to accelerate the program Biofene, Amyris ´s renewable farnesene which allows the production of renewable diesel using sugar as raw material. Diesel focuses on serving as jet fuel.
Launched in 2010, the R & D is managed by the two companies. Total pledged to contribute with US$ 105 million in order to proceed with the work.
Additionally, the proposed joint venture, from which each company will have 50% of control, will have exclusive rights to produce and sell aviation fuel and renewable diesel, and non-exclusive rights to license to other renewable products, such as drilling fluids, solvents, polymers and certain bio-lubricants. The joint venture plans to start operations later in the second half of 2012.