Amyris Inc (NASDAQ:AMRS) entered a multi-year deal with AB Mauri North America to sell its Purecane Sweetener. As per the terms of the pact, AB Mauri will promote the use of Purecane in its baking applications. The deal allows customers of AB Mauri in Canada, the US, and Mexico to use zero-calorie sweetener to manufacture baked goods while preserving the product appeal, texture, and flavor.
Excellent prospects for Purecane brand
The deal between Amyris and AB Mauri offers promising prospects for the Purecane brand unveiled in 2019. After a year, Amyris introduced its sweetener ingredient. CEO and President of Amyris, John Melo, said the company is excited to introduce its sweetener products to AB Mauri consumers through this exclusive deal. With this agreement, the consumers get a healthier option to enjoy baking products with reduced sugar.
Offers biotechnology expertise
President of AB Mauri, Mark Prendergast, said the company partnered with Amyris to provide its biotechnology expertise to benefit customers engaged in producing baking products. Though sugar plays a vital role in improving sweetness, texture, and color in baked products, excessive consumption causes health problems. Therefore, AB Mauri chose to introduce the Purecane ingredient of Amyris in its sugar, minimizing solutions. The innovative sugar reducing solution maintains quality and taste to the consumers with no negative effect on their health.
Purecane brand sweetener, aka sugarcane RebM comprises zero glycemic and zero-calorie for use in your diet and minimizes sugar, carbohydrates, and calorie intake. It is an ideal solution for consumers who yearn to maintain better health, reducing sugar intake, and diabetics.
Amyris signs an accord to mobilize $200 million
Amyris entered a pact with institutional investors to secure funding of $200 million. The deal comprises 51% of the preferred shares and 49% of the common shares. Amyris will use the proceeds to repay the debt of $61 million out of the outstanding debt and for general corporate expenses. CFO, Han Kieftenbeld, said the funding allows the company to promote its business growth, execute strategic priorities, and ensure a positive cash flow by lowering debt.
Amyris donated more than 200,000 hand sanitizers to help healthcare workers during coronavirus crisis. The company also supplies key ingredients for personal care products and household cleaning activities.