EMERYVILLE -- Amyris shares jumped on Tuesday, fueled by a fresh renewable energy deal with France-based Total.
Under the intensified collaboration , Total dedicated $82 million exclusively to develop biofene, a renewable fuel derived from sugar cane feedstock.
The biofene will be used to produce renewable diesel and jet fuel.
"In addition to Amyris' continued development of jet and diesel businesses in Brazil independently, this enhanced collaboration provides a global platform for the future growth in fuels under a future joint venture with Total," Amyris CEO John Melo said in a prepared release.
Once the research and development program is complete, Amyris and Total intend to form a joint venture that would have the exclusive rights to produce and market renewable diesel and jet fuel. The venture may also produce other specialty products.
Share of Amyris climbed 9.3 percent, or 33 cents a share, and finished at $3.87 on Tuesday.
"With this refocused partnership, we'll reach our business objectives, expand our ability to become a key supplier in renewable fuels and better meet our customers' highest demands," said Philippe Boisseau, a member of Total's Executive Committee.
Contact George Avalos at 925-977-8477. Follow him at twitter.com/george_avalos.