“We continue to prudently manage the business, and we are proud to remain on schedule with all major projects. We have a healthy balance sheet and increasing partner commitments, and we are making steady progress against our planned capacity and commercialization strategy,” said Tyler Painter, CFO of Solazyme.
Other Recent Business Highlights
- Solazyme Bunge Renewable Oils pours foundation for Brazil facility: Solazyme and Bunge Global Innovation LLC (“Bunge”), a wholly-owned subsidiary of Bunge Limited (NYSE: BG), remain on track for a 100,000 metric ton renewable oil production facility adjacent to Bunge’s Moema sugarcane mill in Brazil. The earthwork has been concluded and the foundation work recently begun.
- Solazyme Roquette Nutritional Joint Venture Continues Forward: The Phase II buildout for 5,000 MT of production in Lestrem is on track for completion in 2Q13.
- Peoria Manufacturing Operation: Peoria is currently producing high oleic and lauric oils, among others, for partners and routinely shipping multi-ton tailored oil samples to strategic partners.
- Algenist®: Revenue continues to climb reaching nearly $12 million for the year to date, more than double the comparable year-ago period. During the third quarter, we introduced two new SKUs, bringing the total number to fifteen.
Solazyme will hold a conference call for investors on November 14 at 1:30 p.m. PT (4:30 p.m. ET). Investors may access the call by dialing 973-409-9250. A live webcast of the call will be available from the Investor Relations section of www.solazyme.com. A recording of the call will also be available by calling 404-537-3406; access code 38851131 beginning approximately two hours after the call, and will be available for one week. A webcast replay from today’s call will also be available from the Investor Relations section of www.solazyme.com approximately two hours after the call and will be available for up to thirty days.About Solazyme, Inc. Solazyme, Inc. (SZYM) is a renewable oil and bioproducts company that transforms a range of low-cost plant-based sugars into high-value oils. Headquartered in South San Francisco, Solazyme's renewable products can replace or enhance oils derived from the world's three existing sources – petroleum, plants and animal fats. Initially, Solazyme is focused on commercializing its products into three target markets: (1) fuels and chemicals, (2) nutrition and (3) skin and personal care.
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