Solazyme,
Inc. (NASDAQ: SZYM), a renewable oil and bioproducts company, and
AkzoNobel, a leading global paints and coatings company and a major
producer of specialty chemicals, announced today that they have entered
into an agreement targeting the development of advanced tailored oils
and commercial sales for near-term product supply.
Tailored oils can enhance or replace petroleum-derived chemicals, and
improve upon the performance of plant oils and animal fats. The Solazyme
and AkzoNobel agreement is rooted in a shared commitment to
sustainability and high-performance products derived from triglyceride
oils.
“AkzoNobel’s leadership in specialty chemicals and sustainability makes
them a natural partner for us to work with,” said Jean-Marc Rotsaert,
Chief Operating Officer, Solazyme. “Akzo’s significant product sales and
growth strategy in the Americas also overlaps well with our
manufacturing footprint.”
Commercial supply of multi-thousand ton quantities of highly sustainable
algal oil is expected to originate from the Solazyme Bunge Renewable
Oils Joint Venture oil manufacturing plant in Brazil. Sales of product
are anticipated to commence in 2014, with pricing to be competitive and
based upon Solazyme’s cost of manufacturing.
“We think the tailored triglycerides developed by Solazyme can offer
valuable new technology for our Surface Chemistry and Decorative Paints
businesses, and we are excited about our partnership with such an
innovative, promising new business,” said Graeme Armstrong, Corporate
Director for Research, Development and Innovation, AkzoNobel. Added
Peter Nieuwenhuizen, Director Future-proof Supply Chains, “We look
forward to a multi-faceted alliance with Solazyme, including supply in
the Americas region, and joint research and development to drive new
functionality alongside improved sustainability.”
Product development efforts are anticipated to begin in the second half
of 2013, and are focused on a number of AkzoNobel’s end market
applications, specifically surfactants and paints and coatings.
About Solazyme:
Solazyme, Inc. is a renewable oil and bioproducts company that
transforms a range of low-cost plant-based sugars into high-value
tailored 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's oils and fuels provide compelling solutions to
increasingly complex issues of fuel scarcity, energy security and
environmental impact while fitting into the pre-existing multi-trillion
dollar fuel infrastructure. For more information, please visit our
website: http://www.solazyme.com
Solazyme®, the Solazyme logo and other trademarks or service names are
the trademarks of Solazyme, Inc.
About AkzoNobel:
AkzoNobel is a leading global paints and coatings company and a major
producer of specialty chemicals. AkzoNobel supply industries and
consumers worldwide with innovative products and are passionate about
developing sustainable answers for our customers. The AkzoNobel
portfolio includes well-known brands such as Dulux, Sikkens,
International and Eka. Headquartered in Amsterdam, the Netherlands,
AkzoNobel are consistently ranked as one of the leaders in the area of
sustainability. With operations in more than 80 countries, AkzoNobel’s
50,000 people around the world are committed to excellence and
delivering Tomorrow’s Answers Today™.
This press release contains certain forward-looking statements about
Solazyme, including statements that involve risks and uncertainties
concerning: agreement on the oils to be developed; the potential uses of
such oils; the ability to launch successful products from such
development; the speed of any such development; market demand for such
products; the impact of new product introduction on long-term
competitiveness and pricing; agreement on definitive supply terms; and
Solazyme's ability to maintain its relationships with its partners and
customers. 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; 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 Annual Report
on Form 10-K, as updated from time to time, 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.
