- Solazyme and Bunge form Joint Venture (JV) for commercial-scale renewable oil production facility in Brazil. The JV, Solazyme Bunge Renewable Oils, will have an expected annual production capacity of 100,000 metric tons of oil. It will utilize Solazyme’s renewable tailored oil production technology, coupled with Bunge’s sugarcane supply and processing capabilities, to produce sustainable tailored triglyceride oils for use in oleochemical and fuel applications.
- Signed Contingent Offtake Agreement and Phase 2 Joint Development Agreement (JDA) with The Dow Chemical Company for tailored bio-based dielectric fluids. The Contingent Offtake Agreement requires Dow to purchase all of its microbe-based oils for use in dielectric fluid applications from Solazyme. Final pricing for the oils will be linked to certain items including Solazyme’s sugar-based feedstock costs. We anticipate that the multi-year JDA will accelerate the commercialization of Solazyme’s base oils for dielectric insulating fluids for transformers and other electrical applications. We expect Solazyme’s algal oils will provide higher flash points and increased functionality in dielectric insulating fluids for transformers and other electrical applications.
- Solazyme’s Algenist® average monthly revenues year to date 2012 doubled as compared to average monthly revenues in 2011.
- Partnered with Volkswagen to evaluate emissions reductions and demonstrate the performance of Clean Diesel technology when powered by advanced renewable diesel. This 12-month evaluation period of Soladiesel RD ® in Volkswagen vehicles is an important step in demonstrating the drop-in capability of our fuels.
- First ever operational deployment of advanced biofuels by the Department of Defense uses Soladiesel ® HRD-76 on USS Ford Frigate voyage. The ship successfully journeyed from its homeport in Everett, WA to San Diego, CA using Soladiesel ® HRD-76, Solazyme’s 100% algal derived renewable marine diesel fuel. The voyage was fueled using 95,000 liters of a 50/50 blend using Soladiesel ® and petroleum F-76 in the ship’s LM 2500 diesel turbines.
Solazyme Reports First Quarter 2012 Results
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