This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Solazyme's CEO Discusses Q2 2012 Results - Earnings Call Transcript

Stocks in this article: SZYM

In nutrition our Solazyme Roquette Nutritionals JV had a big win when we received an FDA no questions notification corresponding to the generally recognized as safe filing with the FDA for use of an algal oil and foods [ph].

Outside the JV, we’re sampling new tailored oils to some of the food companies in the world. In chemicals, we’re producing new and breakthrough tailored oil profiles that will disrupt existing markets and define new ones.

In fuels, the US Navy demonstrated the Green Strike Group at RIMPAC 2012 and the EPA granted registration for our SoladieselRD fuel. Diving a bit deeper, our Solazyme Bunge renewable oils JV is opt to a great start.

In June, we broke ground on our first 100,000 metric ton commercial facility located at Bunge’s flagship sugar cane mill in Moema, Brazil. We recently commenced civil works at the site and we remain unscheduled for operations in the fourth quarter of 2013.

We also announced the formation of the JV management team including the employment of Hildo Henz as the general manager. Hildo is a seasoned executive who brings proven experience. He served as a CEO of a major refining joint venture between Petrobras and Repsol where he was responsible for over $1.3 billion on capital expansion projects and while at Branko, a major sugar and ethanol producer in Brazil, he managed green field projects in excess of $500 million.

Here in the US, we’re pleased with the progress at our manufacturing facility in Peoria, Illinois where we commenced operations for an integrated bio refinery with the DOE on schedule during the quarter.

This facility now enables us to produce substantial quantities of algal oil for market development at a single sight, providing for sampling and market seeding for a multitude of partners and potential customers in an integrated commercial scale facility.

3 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,814.94 -2.96 -0.02%
S&P 500 2,067.03 -2.38 -0.12%
NASDAQ 4,758.2520 +3.36 0.07%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs