Solazyme, Inc. (NASDAQ:SZYM), a renewable oil and bioproducts company, today announced its entry into the textile lubricants market through a commercial supply agreement with Goulston Technologies Inc., a leading global producer of high-performance fiber lubricants. Goulston expects to commercialize a new class of sustainable products using Solazyme’s renewable high-performance, Tailored™ algal oils for textile lubricants. Solazyme expects to supply Goulston’s high oleic oil needs under the agreement.
“Our business continues to grow globally – driven by innovation. Solazyme’s unique renewable Tailored™ oil technology provides us with new options to develop our next generation of high performance products,” said Srinivasan Ranganathan, Goulston Chief Technology Officer. “In addition, our goal is to provide the industry with the highest performance lubricants with the lowest environmental impact. We are committed to using sustainable raw materials wherever possible and we are excited to announce the immediate introduction of high-performance textile finishes based on Solazyme algal oils. We plan to further expand the use of this breakthrough technology into additional products and markets starting in 2014.”
“Solazyme’s renewable Tailored™ algal oils are able to provide outstanding performance and a more sustainable solution with better lubrication, surface tension and viscosity index, plus enhanced stability at elevated temperature, pressure and/or speed, making them ideal for technical applications like textile finishes and for the general lubricants market,” said Rob Evans, Vice President, Sales, Solazyme. “We have executed an agreement to supply Goulston’s high oleic oil needs using our best-in-class algal derived high oleic oil and we look forward to further partnering with Goulston Technologies to develop and commercialize an expanded portfolio of products in the future.”
As a result of continuing growth in global fiber production, industry estimates now put the fiber lubricant market at more than 1 billion pounds annually.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. Solazyme®, Tailored™, the Solazyme logo and other trademarks or service names are trademarks of Solazyme, Inc. This press release contains certain forward-looking statements about Solazyme, including statements that involve risks and uncertainties concerning: its development and commercialization plans; the anticipated demand for its products; the attributes and performance of its products and uses therefor. When used in this press release, the words “will”, “expects”, “intends” and other similar expressions and any other statements that are not historical facts are intended to identify those assertions as forward-looking statements. Any such statement may be influenced by a variety of factors, many of which are beyond the control of Solazyme, that could cause actual outcomes and results to be materially different from those projected, described, expressed or implied in this press release due to a number of risks and uncertainties. Potential risks and uncertainties include, among others: implementation risk in deploying new technologies; Solazyme’s limited history in commercializing products; the success of Solazyme products in targeted applications and markets; market acceptance of its products; its ability to obtain requisite regulatory approvals; and its ability to enter into and maintain strategic collaborations. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of Solazyme.
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