July 16, 2012 / 8:34 PM / 5 years ago

UPDATE 1-Codexis says biofuel talks with Shell advance

July 16 (Reuters) - Biofuels and biochemicals maker Codexis Inc said it was in talks with Royal Dutch Shell that would allow Codexis to sell its biofuels enzymes to other companies outside Brazil.

Codexis currently has a partnership with Shell that expires in October and provided about half Codexis’ 2011 revenues of $123.9 million.

Codexis and Shell have been collaborating on developing cellosic ethanol through Shell’s Raizan joint venture with Cosan in Brazil. Raizan owns about 16 percent of Codexis.

Codexis shares rose more than 11 percent in post-market trading to $4.31 per share.

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