Solazyme Announces U.S. Commercial Production Of Renewable™ Algal Oils At Iowa Facilities
Inc. (NASDAQ:SZYM), a Renewable
™ oil and bioproducts company,
announced today that commercial operations have commenced at both Archer
Daniels Midland Company (ADM)’s Clinton, Iowa facility, and...
Solazyme, Inc. (NASDAQ:SZYM), a Renewable ™ oil and bioproducts company, announced today that commercial operations have commenced at both Archer Daniels Midland Company (ADM)’s Clinton, Iowa facility, and the downstream companion facility operated by American Natural Products in Galva, Iowa (ANP). Highlighting the flexibility of Solazyme’s technology platform, Solazyme, ADM and ANP have successfully manufactured three distinct and unique Tailored TM oil products at the facilities, and products are currently being sold and distributed in both the U.S. and Brazil. Volumes shipped to Brazil are being utilized for market development activity in advance of the opening of the Solazyme Bunge Renewable Oils Moema facility. As stated previously, production at the ADM and ANP facilities is expected to ramp to a nameplate capacity of 20,000 MT/yr within 12-18 months, with targeted potential expansion to 100,000 MT/yr in subsequent years. “This is a critical milestone for Solazyme’s large scale commercial manufacturing capabilities. The Solazyme, ADM and ANP teams have done an excellent job bringing up commercial operations at the Iowa facilities with Solazyme’s Tailored TM oil production technology. We have already successfully produced three Tailored TM oil products at scale and have begun selling these products into the North American marketplace,” said Jonathan Wolfson, CEO Solazyme. “Consistent with our stated plans, we are focused initially on ensuring consistent and reliable operations as we build customer trust. While we acknowledge that it is still early days, we look forward to the opportunity to expand our production volume and the slate of oil products available.” Truckloads of product are now shipping from the Iowa operations for use in applications including lubricants, metalworking and home and personal care. These shipments are being made pursuant to multiple supply agreements as well as spot purchases, and include reorders. In the high-performance lubricants and metalworking fluids industries, Solazyme’s Renewable ™ Tailored™ algal oils help to provide outstanding performance and a sustainable solution with better lubrication, surface tension and viscosity index, plus enhanced stability at elevated temperature, pressure and speed. In home and personal care, Solazyme’s Tailored™ algal oils offer better performance and a more sustainable alternative to existing oils. 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. TailoredTM, RenewableTM, Solazyme®, and the Solazyme logo are trademarks of Solazyme, Inc.About ADM For more than a century, the people of Archer Daniels Midland Company (NYSE: ADM) have transformed crops into products that serve vital needs. Today, 30,000 ADM employees around the globe convert oilseeds, corn, wheat and cocoa into products for food, animal feed, industrial and energy uses. With more than 265 processing plants, 460 crop procurement facilities, and the world’s premier crop transportation network, ADM helps connect the harvest to the home in more than 140 countries. For more information about ADM and its products, visit www.adm.com. Forward Looking Statements This press release contains certain forward-looking statements about Solazyme, including statements that involve risks and uncertainties concerning: the scheduled completion of manufacturing facilities; the capacity and expandability of its manufacturing facilities and the timetable for reaching capacity; the uses of its products; the attributes and future performance of its products; production volume and number of available products. 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 operating history; its limited history in commercializing products; implementation risk in deploying new technologies; implementation risk in deploying its technology at ADM’s Clinton facility; its limited experience in retrofitting, constructing and operating commercial manufacturing facilities; market acceptance of its products; meeting market demand; production delays related to the ramping up and ongoing operation and optimization of production facilities; the performance of products; its access to adequate supply of feedstock on favorable terms; its ability to enter into and maintain strategic collaborations; its ability to obtain requisite regulatory approvals or permits; and its access, on favorable terms, to any required financing. 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.