Amyris, Inc. has announced that it has signed a memorandum of understanding for a partnership with Minerva Foods of Brazil to develop molecules for the sustainable production and distribution of animal protein.

Minerva will fund Amyris's development, scaling, and production of new target molecules (with additional molecules to be identified over time), which Minerva will then be responsible for commercializing.

The parties will also work on the development and production of a fermentation-based alternative to animal-based protein.

The parties expect to begin commercialization of the first product within 18 months. The new molecules will include natural preservatives from fermentation that will enable meat to be transported and sold with a longer shelf-life at reduced CO2 emission levels.

Minerva Foods is a global leader in the production and sale of fresh beef and beef by-products, live cattle exports, and processed meat. It also operates in protein trading in export markets and resale of third-party products.

"We are very pleased to partner with Amyris, the leader in synthetic biotechnology and the world's leading fermentation technology company," said Fernando Galletti De Queiroz, Chief Executive Officer of Minerva. "We envision a world where consumption of animal protein will continue and the demand for alternatives will grow. With Amyris's clean fermentation technology, we expect to lead the disruption of the animal protein industry and reduce our industry's carbon footprint."

The parties expect to sign definitive agreements in the next several weeks, followed by closing in Q2 2021, subject to customary closing conditions.