Amyris Biotech

The company's core business revolves around its proprietary Lab-to-Market™ technology platform, which uses genetically engineered microorganisms, primarily yeast, to convert plant-based sugars from sugarcane into a wide array of molecules through fermentation. This process serves as a sustainable alternative to traditional manufacturing methods that often rely on petrochemicals or scarce natural resources. Amyris operates as both a business-to-business (B2B) ingredient supplier and a direct-to-consumer (D2C) brand portfolio manager. For its B2B segment, the company develops and manufactures specialty ingredients for the flavors and fragrances, cosmetics, pharmaceuticals, and nutraceuticals markets, selling them to large corporations. Its D2C model involved creating and marketing its own consumer brands, such as Biossance (skincare) and JVN (haircare), which utilized its bio-manufactured ingredients.

Amyris's product portfolio is diverse, stemming from its flexible production platform. A cornerstone ingredient is squalane, a high-performance emollient traditionally sourced from shark livers, which Amyris produces from sugarcane, thereby offering a sustainable alternative for the cosmetics industry. Another key product is hemisqualane, a plant-based silicone alternative. The company has successfully commercialized over a dozen molecules, including a zero-calorie sweetener (Reb M) and ingredients for fragrances. In early 2023, the Swiss fragrance and cosmetic ingredient maker Givaudan acquired a significant portion of Amyris's cosmetic ingredients portfolio, including squalane and hemisqualane, in a deal that included a long-term manufacturing agreement.

Despite its scientific and commercial successes, the company faced significant financial challenges. After years of operating at a loss, Amyris filed for Chapter 11 bankruptcy protection in August 2023. The restructuring plan involved divesting its portfolio of consumer brands to focus on its core competencies: research and development, and the commercialization of sustainable ingredients for its B2B clients. As part of this transition, long-time CEO John Melo stepped down in June 2023, and Han Kieftenbeld was appointed as interim CEO. The company successfully emerged from bankruptcy in May 2024, with Kathy Fortmann installed as the new CEO to lead a strategy focused on B2B customers.