“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.