TOTAL S.A., an oil and gas company, agreed to acquire 17% equity interest in Amyris Biotechnologies, Inc. a provider of renewable products, for a purchase consideration of $132.2 million. Pursuant to the terms, TOTAL will acquire 7.1 million shares of series D preferred stock at $18.75 per share. Further, the company has agreed to make an additional payment to Amyris if its initial offering price is above $18.75.

In addition, Total entered into a partnership agreement with Amryis, to develop new products and build biological pathways to produce and commercialize renewable fuels and chemicals.

In conjunction with the transaction, Total will have the right to appoint a member of the Amyris board of directors. The acquisition will enable Total to expand its business in renewable fuels and chemicals.

Amyris has raised $382.9 million to date, including Total’s investment, from venture capitalists and corporates.

Biotechnology offers new perspectives on the conversion of biomass into molecules for biofuels and green chemistry," emphasized Philippe Boisseau, President, Total Gas & Power. “Amyris is one of the most promising start-ups in the emerging white biotechnology field. Its technology platform is a powerful accelerator for the development of industrial production routes for several of our markets. This partnership is a milestone for Total, as we aim to become an important player in this domain."

* Indicates Mandatory