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Business

Amyris And Cobalt Investors Pitch In

by Melody M. Bomgardner
January 6, 2014 | APPEARED IN VOLUME 92, ISSUE 1

Biobased chemicals firms Amyris and Cobalt Technologies have raised additional funds from investors. Publicly traded Amyris will receive $28 million in cash from current stockholder Temasek and new investor Wolverine Asset Management in exchange for promissory notes. Amyris makes farnesene from sugar at its facility in Brotas, Brazil. The firm says the funding will help it achieve positive cash flow from operations in 2014. Privately held Cobalt, meanwhile, has raised $4.1 million from its backers, including Life Sciences Partners and VantagePoint Capital Partners. The company is working with two unidentified Asian chemical firms to scale up processes for converting biomass to butadiene and 1-butanol.

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