The company is using the Business Recovery Services unit of PricewaterhouseCoopers to cut $250 million in costs, including "optimizing the costs of goods sold, reducing operating expenses and streamlining the business portfolio," per Amyris.
Its formulation lineups are made with sustainably and ethically sourced ingredients and aim to capture the age of "Terrapy" a world where products and services relieve the guilt of climate-conscious consumers and reduce climate change.
Global manufacturer of fragrance and cosmetic ingredients Givaudan has reached an agreement with Amyris to acquire major cosmetic ingredients from the biotech company, including high performance emollient Neossance Squalane, plant-based silicone alternative Neossance Hemisqualane and sustainable sun protector CleanScreen.
In addition, Givaudan and Amyris have signed a long-term partnership agreement under which Amyris will continue to manufacture cosmetic ingredients for Givaudan, as well.