Third quarter GAAP net loss attributable to Solazyme, Inc. common stockholders was $30.7 million, which compares with net loss of $22.5 million in the prior year period. On a non-GAAP basis, the net loss was $22.3 million for the third quarter of 2013, compared with net loss of $19.4 million in the prior year quarter. A reconciliation of GAAP to non-GAAP results is included below.“We continue to closely manage our expenses and are well-capitalized to broadly commercialize our technology in 2014,” said Tyler Painter, CFO of Solazyme.
- Enters Into Supply Agreement with Unilever: In September, Solazyme and Unilever finalized their first commercial supply agreement for a Solazyme Tailored TM algal oil which includes an initial supply of at least 10,000 MT. Supply is planned to begin in early 2014.
- Enters Into Supply Agreement with Goulston Technologies: In October, Solazyme announced its entry into the textile lubricants market through a commercial supply agreement with Goulston Technologies, Inc. This agreement enables Goulston to introduce Solazyme’s algal oils into the estimated $1B textile lubricants market and the companies plan to further broaden the portfolio of Solazyme Tailored TM algal oil offerings for this market.
- Extension and Renewal of JDA agreements with Unilever and Bunge: Solazyme further deepened the relationship with the consumer packaged goods giant, Unilever, into 2014. Under the extended agreement, the companies plan to accelerate the commercialization of a second novel Tailored™ algal oil. In addition, Solazyme and Bunge extended and expanded their JDA to enable the Solazyme Bunge Renewable Oils JV to have access to a broader portfolio of oils.
- Producing Whole Algal Food Ingredients at Peoria: Solazyme has begun production of Whole Algal food ingredients at Peoria and is actively delivering samples in response to over 160 requests from food ingredients companies and other potential customers.
- Solazyme Health Sciences launches a new brand: This week, Solazyme Health Sciences launched EverDeep™, a new line of patented anti-aging skincare products that is distributed through direct response infomercials and the internet and which includes a new proprietary microalgae-based ingredient from Solazyme. This represents Solazyme’s second consumer-focused skin-care brand and a significant expansion of our Health Sciences business.