Soladiesel® Algae-Based Fuel Drives Successful Consumer Trial at Propel Fuels Locations
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 SoladieselBD
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 SoladieselBD 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, SoladieselBD
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 Propel
Headquartered 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.
