AMYRIS CLOSES ECOFABULOUS TRANSACTION, AND COMMENCES PRODUCTION OF CONSUMER PRODUCTS IN RENO, NEVADA PLANT
Amyris, Inc. (Nasdaq: AMRS) has successfully acquired EcoFabulous, a clean beauty brand targeted at Gen Z consumers, as part of its strategy to enhance growth in the sustainable beauty market. The acquisition complements Amyris' existing consumer brands, which include Rose Inc., JVN, Biossance, Pipette, and Purecane. Furthermore, the company has commenced production at its Reno, Nevada facility ahead of schedule, aiming for product sales to begin in Q3 2022. This move is expected to reduce reliance on third-party manufacturers and improve supply chain efficiency.
- Acquired EcoFabulous to strengthen presence in Gen Z clean beauty market.
- Commenced consumer product production ahead of schedule in Reno, Nevada.
- Expected sales from EcoFabulous to begin in Q3 2022, enhancing revenue potential.
- Integration of production is anticipated to reduce manufacturing costs.
- Risks related to liquidity and funding of operating expenses.
- Potential delays in product launches and integration of EcoFabulous.
- Possible impact on business operations from COVID-19-related disruptions.
EMERYVILLE, Calif., Feb. 9, 2022 /PRNewswire/ -- Amyris, Inc. (Nasdaq: AMRS), a leading synthetic biotechnology company accelerating the world's transition to sustainable consumption through its Lab-to-Market™ operating platform today announced that it has closed the acquisition of EcoFabulous, a Gen Z-focused clean beauty consumer brand. Amyris also announced the start of production of a range of consumer products at the Reno, Nevada facility ahead of its mid-year schedule.
Consistent with its 2022 communicated plan to launch a new Gen-Z clean beauty offering, Amyris has completed the acquisition of EcoFabulous cosmetics. EcoFabulous is a brand dedicated to providing Gen Z consumers affordably priced skin care and color cosmetics with an emphasis on sustainability, product performance and efficacy. Amyris expects sales to begin during the third quarter of 2022 through its direct-to-consumer ecommerce platform and retail partnerships. The acquisition furthers Amyris' growth and market leadership in clean beauty and complements Amyris' family of consumer brands.
The transition to the consumer production plant in Reno is an important first step in Amyris' strategy to consolidate manufacturing capabilities across its growing family of consumer brands. It reduces Amyris' reliance on third party manufacturing, enhances control over its supply chain and is expected to result in lower unit costs of its consumer products.
"We are very pleased with the addition of EcoFabulous to our family of consumer brands," said John Melo, President and Chief Executive Officer of Amyris. "Our consumer growth is accelerating due to the early success of our recently launched brands, Rose Inc. and JVN, along with the continued momentum of Biossance, Pipette and Purecane. We have also successfully brought forward production in Reno, Nevada which will support our consumer product growth. The first consumer products will be produced this quarter ahead of our previously communicated mid-year 2022 target. We continue to execute well across our business and expect the first quarter to be our strongest consumer revenue quarter yet."
About Amyris
Amyris (Nasdaq: AMRS) is a leading synthetic biotechnology company, transitioning the Clean Health & Beauty and Flavors & Fragrances markets to sustainable ingredients through fermentation and the company's proprietary Lab-to-Market™ operating platform. This Amyris platform leverages state-of-the-art machine learning, robotics and artificial intelligence, enabling the company to rapidly bring new innovation to market at commercial scale. Amyris ingredients are included in over 20,000 products from the world's top brands, reaching more than 300 million consumers. Amyris also owns and operates a family of consumer brands that is constantly evolving to meet the growing demand for sustainable, effective and accessible products. For more information, please visit http://www.amyris.com.
Amyris, the Amyris logo and Lab-to-Market are trademarks or registered trademarks of Amyris, Inc. in the U.S. and/or other countries.
Forward-Looking Statements
This release contains forward-looking statements, and any statements other than statements of historical fact could be deemed to be forward-looking statements. These forward-looking statements include, among other things, statements regarding future events, such as the expectation of EcoFabulous sales to begin in the third quarter of 2022 and that the acquisition of EcoFabulous will further Amyris' growth and market leadership in clean beauty; the expected benefits of commencing manufacturing at the Reno consumer product plant and the timing thereof; and Amyris' expectations regarding accelerated consumer growth due to early success of its recently launched consumer brands, including that the first quarter of 2022 will be Amyris' strongest consumer revenue quarter to date. These statements are based on management's current expectations and actual results and future events may differ materially due to risks and uncertainties, including risks related to the Amyris' liquidity and ability to fund operating and capital expenses, risks related to potential delays or failures in completing and integrating planned acquisitions, risks related to potential delays or failures in development, regulatory approval, launch, production and commercialization of products, risks related to the COVID-19 pandemic and resulting global economic, financial and supply chain disruptions that may negatively impact Amyris' business operations and financial results, risks related to reliance on third parties, and other risks detailed from time to time in filings Amyris makes with the Securities and Exchange Commission, including Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The companies disclaim any obligation to update information contained in these forward-looking statements, whether as a result of new information, future events, or otherwise.
View original content to download multimedia:https://www.prnewswire.com/news-releases/amyris-closes-ecofabulous-transaction-and-commences-production-of-consumer-products-in-reno-nevada-plant-301478435.html
SOURCE Amyris, Inc.
FAQ
What is the significance of Amyris acquiring EcoFabulous?
When will EcoFabulous products be available for purchase?
How does the Reno facility impact Amyris' production?
What are the financial risks mentioned in Amyris' press release?
