Propel Fuels ( www.propelfuels.com), a leading retailer of renewable fuels and clean mobility solutions, and Solazyme, Inc. (NASDAQ: SZYM), a renewable oils and bioproducts company, today announced that sales and survey results from their 30-day retail pilot program show consumers prefer its environmental benefits compared to conventional fuels; would purchase more of it if it was widely available and would even pay a premium for it. The pilot program, which marked the first commercial availability of algal derived fuels, offered Soladiesel BD in a B20 blend to consumers through Propel’s Clean Fuel Points in Redwood City, San Jose, Berkeley, and Oakland. In the consumer survey, 92 percent of participants noted that they would be more likely to purchase algae-derived fuel for its environmental benefits; 70 percent indicated that they would purchase the fuel more frequently if it were derived from algae; and nearly 40 percent of customers indicated they would pay a premium for algae-derived fuel. Sales results reflected the enthusiasm indicated by the survey, with a 35 percent volume increase at Propel stations offering the algae-derived fuel over area sites not participating in the pilot. “Our fuels have already been successfully demonstrated in fleet vehicles, corporate buses, military applications and the first U.S. commercial flight on biofuel,” said Bob Ames, VP of Fuels, Solazyme. “The successful pilot program with Propel further exhibits strong consumer appetite for the superior performance and environmental properties of Soladiesel.” Solazyme’s high quality algae-based Soladiesel BD meets or exceeds ASTM quality specifications and has shown performance enhancements including superior cold temperature operating performance and environmental benefits. Life Cycle Associates, an independent greenhouse gas measurement firm, determined that Soladiesel® provides an 85-93% greenhouse gas emissions reduction when compared to conventional petroleum-based diesel. In addition, testing by the National Renewable Energy Laboratory (NREL) indicates that in a 20 percent blend, Soladiesel BD significantly outperforms ultra-low sulfur diesel in total hydrocarbons (THC), carbon monoxide (CO) and particulate matter tailpipe emissions. This includes an approximate 30 percent reduction in particulates, a 20 percent reduction in CO and an approximate 10 percent reduction in THC. “Propel is committed to providing drivers true choice at the pump by bringing to market the world’s highest quality and most sustainable fuels,” said Matt Horton, CEO of Propel Fuels. “The results show strong preference for algae-based fuel, and we are thrilled to have partnered with Solazyme to enable our customers to be the first in the country to purchase this next generation biofuel.”
About PropelHeadquartered in Redwood City, California, Propel Fuels operates a network of green-built filling stations providing convenient access to American, low-carbon fuels and clean mobility solutions. The company offers consumers and fleets new fuel choices that make progress toward reducing carbon emissions, creating jobs, and lowering America’s dependence on foreign oil. Propel has also developed CleanDrive®, the nation’s first integrated carbon emission reduction tracking platform, and is the only fueling company in the country to enable drivers to offset their emissions at the pump through their CarbonOffset program. Propel operates a growing network of locations in California and Washington State. More information is available at www.propelfuels.com and by following Propel on Twitter at: @PropelFuels. About Solazyme, Inc. Solazyme, Inc. (NASDAQ: 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®, 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: the future attributes of Solazyme fuel and the benefits of use thereof; and the future behavior of consumers based on survey results. 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: Solazyme's limited history in commercializing products; implementation risk in deploying new technologies; market acceptance of its products; 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.
In addition, please refer to the documents that Solazyme, Inc. files with the Securities and Exchange Commission, including its Current Reports on Form 8-K and its Quarterly Reports on Form 10-Q for a discussion of these and other risks. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release. Solazyme is not under any duty to update any of the information in this press release.