Save 31% on BioAmber’s IPO

Jim Lane Will BioAmber complete its IPO? As the industry waits, fingers crossed, the biosuccinic developer sweetens the pot with warrants, lower share prices. In Canada, BioAmber has reduced the proposed price range for its IPO to $10-$12 per share, down from a $15-$17 range as it seeks to keep the initial public offering on track. Overall, the company now proposes to raise between $80 million and $110.4 million in the offering, now scheduled for May 13th according to the latest calendar from NASDAQ. At the offering’s midpoint and excluding the sale of up...

Spring Blossoms: Amyris First Quarter Earnings

Jim Lane Lily flowered tulip 'Maytime' photo by Tom Konrad In California, Amyris (AMRS) announced net income of $16.4M on revenues of $6.2M for Q1 2014, after reporting a $32.6M loss in Q1 2013 on revenues of $9.0M. The change in net income was primary due to a non-cash benefit relating to outstanding convertible notes, a result of a decrease in the Company’s stock price at 3/31/14 compared to the stock price at 12/31/13. In a release accompanying the results, the company highlighted that it: Achieved combined...

Ramp-Up Delay Sends Solazyme Stock Into Free-Fall

Jim Lane Revenue and customer numbers are up at Solazyme (SZYM), 60% YOY growth from Q3 2013 to Q3 2014. But a slowdown in the rollout at Moema capacity leads to a spectacular 58% one-day drop in the stock price. What happened? Solazyme has been on a relatively steady downward trajectory for the past few quarters, dropping from the $11-$13 range and down into the $6-$8 range. And then plunged a stunning 58 percent to $3.14 yesterday – amidst downgrades by Cowen & Company, Pacific Crest and Baird generally to Market Perform or Neutral, and remains...

Amyris Aims For Huge Second Half

Jim Lane The Pharaohs of Farnesene continue to pick up momentum. In California, Amyris (AMRS) reported a net loss of $35.5M for the second quarter of 2014 on sales of $9.3M, with a 5.4 percent increase in sales over Q2 2013. Renewable product sales were $4.4M for the quarter, while “Recognized grants and collaborations revenues” reached $4.9M. In announcing results, the company highlighted: • End of quarter cash, cash equivalents and short-term investments balance of $90.2 million. • Lowest farnesene production costs to date and successful start of fragrance molecule production. • Addition of Braskem as a...

Two Thumbs Up for Solazyme: AkzoNobel deal, new technology for structured oils

Jim Lane The sector’s perennial hottest company strikes again with “potentially disruptive” new technology to change the positioning and performance of triglyceride oils. In California, Solazyme (SZYM) and AkzoNobel announced an agreement targeting the development of advanced tailored triglyceride oils and commercial sales for near-term product supply. The agreement focuses on supply for the chemical giant’s Surface Chemistry and Decorative Paints businesses. Commercial supply of multi-thousand ton quantities of highly sustainable algal oil is expected to originate from the Solazyme Bunge Renewable Oils Joint Venture oil manufacturing plant in Brazil. Sales of product are anticipated to commence...

Gevo: Are We There Yet?

by Debra Fiakas CFA The renewable chemicals and biofuel company Gevo, Inc. (GEVO:  Nasdaq) is scheduled to report fourth quarter 2013 financial results on March 25th.  Analysts have a couple of weeks to prepare questions for management during the earnings conference call.  Top on the list has to be got to be about Gevo’s recent agreement to license its novel isobutanol technology to Porta Hnos of Argentina.  Porta Hnos is a well established ethanol producer so if the license is consummated, it is expected that this partner has the ability to execute on plans to produce isobutanol for...

Solazyme Launches Biodegradable Encapsulated Lubricant For Drilling Market

Jim Lane Enters oil & gas drilling market with world’s first encapsulated lubricant. Solazyme: “Targeted delivery technology provides improved performance and sustainability.” In California, Solazyme (SZYM) announced its entry into the oil and gas drilling fluids additive market. Building upon its proprietary platform of high performance, sustainable Tailored oils, Solazyme has introduced Encapso, the world’s first encapsulated biodegradable lubricant for drilling fluids designed to deliver high-grade lubricant precisely at the point of friction where and when needed most. At the same time, the company announced its intent to offer $100M in aggregate principal notes due in 2019 and...

Solazyme: Now, Express Yourself in the oils you choose.

Jim Lane In an on-time arrival, Solazyme starts up at 500,000 liter scale in Clinton, Iowa.  In California, Solazyme (SZYM) announced that commercial operations have commenced at both Archer Daniels Midland Company’s (ADM) Clinton, Iowa facility, and the downstream companion facility operated by American Natural Products in Galva, Iowa. Highlighting the flexibility of Solazyme’s technology platform, Solazyme, ADM and ANP have successfully manufactured three distinct and unique tailored oil products at the facilities, and products are currently being sold and distributed in both the U.S. and Brazil. Volumes shipped to Brazil are being utilized for...
earnings roundup

Living Endangeredly- Q2 Biobased Earnings Roundup

by Jim Lane In hand we now have the latest earnings reports from what you might call the 8 Pathfinders – eight publicly traded stocks whose second quarter results offer insights into the health and performance of the advanced bioeconomy as 2019 heads towards its closing crescendos. Our 8 Pathfinders – In the world of global renewable diesel at scale, Neste (Neste.HE); pure-play enzymes, Novozymes (NVMB); In pharma and synbio, Codexis (CDXS); as a hybrid play in advanced fuels, Aemetis (AMTX); in advanced marine and jet fuels, Gevo (GEVO); for biodiesel and hydrocarbons, Renewable Energy Group (REGI); in advanced began foods,...