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The company, which makes biofuel from a microbes, said it will stay the course, and expects a demo flight with its biofuel soon.
Amyris is set to begin producing chemicals at a large scale through a contract manufacturing deal--a big step for the renewable chemical and biofuels industry, which has struggled to scale up.
Eyeing Brazil, biotech company Amyris plans to raise $100 million to build facilities that convert cane sugar into replacements for petroleum-based fuels.
Biotech start-up has genetically optimized microbes to produce diesel fuel from sugar cane. Its first plant, in California, will be followed by a commercial plant in Brazil.
Sugar cane is mostly used for ethanol today, but Amyris says it will be a feedstock for more powerful fuels by 2010.