Solazyme, Inc. (NASDAQ: SZYM), a renewable oil and bioproducts company, announced today the appointment of Peter Kovacs to the company’s Board of Directors. Mr. Kovacs brings over 45 years of food, specialty chemical, and industrial biotechnology experience to the company and has been a member of Solazyme’s Strategic Advisory Board since 2007.
“Peter brings a wealth of knowledge in the commercialization of new technologies including biotechnologies into our key markets, including nutrition and industrial and personal care chemicals,” said Jonathan Wolfson, CEO, Solazyme. “As we move into this next phase of commercialization, we welcome the expertise and guidance that Peter will provide as a board member, having already benefited from years of his expertise as an advisor.”
Mr. Kovacs joined the Kelco Company, a San Diego-based industrial biotechnology and specialty chemicals manufacturer and a Division of Merck & Co. Inc., as a laboratory chemist in 1967. After a series of domestic and international technical and business assignments, Mr. Kovacs was appointed President and CEO of the company in 1993, leading the sale of Kelco from Merck to Monsanto in 1994. He was subsequently chosen to join the Monsanto Operating Council and led the integration of the NutraSweet Company with Kelco, forming an $800 million food and industrial ingredient firm, which became one of the largest industrial biotechnology companies, the NutraSweet Kelco Company. He then served as President and CEO of NutraSweet Kelco until his retirement in 1997 after 30 years of service.
Solazyme, Inc. is a renewable oil and bioproducts company that transforms a range of low-cost plant-based sugars into high-value tailored 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. Solazyme's oils and fuels provide compelling solutions to increasingly complex issues of fuel scarcity, energy security and environmental impact while fitting into the pre-existing multi-trillion dollar fuel infrastructure.