Solazyme,
Inc. (NASDAQ: SZYM) (“Solazyme”), a renewable oil and bioproducts
company, today announced that its joint venture with Bunge Global
Innovation LLC (“Bunge”), a wholly-owned subsidiary of Bunge Limited
(NYSE:BG), has successfully produced its first commercially saleable
products on full-scale production lines, including the 625,000L
fermentation tanks, at the Solazyme Bunge Renewable Oils plant in
Brazil. Both oil and encapsulated lubricant, Encapso™, products have
been manufactured; production is continuing and is expected to reach
nameplate capacity within the next 12-18 months.
“With production underway at the Solazyme Bunge Renewable Oils plant,
Solazyme is manufacturing products at three large scale facilities,
including our 2,000 MT/year integrated facility in Peoria, the 20,000
MT/year Iowa facilities in Clinton/Galva and the 100,000 MT/year
facility in Brazil,” said Jonathan Wolfson, CEO Solazyme. “Continued
progress at the recently completed adjoining co-gen facility has
resulted in more reliable power and steam, enabling startup of
commercial operations and production of our first commercially saleable
product. We are truly excited to have begun manufacturing operations at
our joint venture’s flagship facility in Brazil.”
"The start of production at the Solazyme Bunge Renewable Oils plant is
an important milestone for this joint venture. We’re proud of the work
we have done with our partner Solazyme in bringing the world's first
built-for-purpose renewable oil plant on line. We remain committed to
the success of the joint venture and see significant market
opportunities that we can address together," said Ben Pearcy, Managing
Director, Sugar & Bioenergy, Bunge Limited.
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 four target markets: (1) fuels and
chemicals, (2) nutrition, (3) encapsulated lubricants and (4) consumer
products.
Solazyme®, Encapso™, and the Solazyme logo are trademarks of
Solazyme, Inc.
Forward Looking Statements
This press release contains certain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
about Solazyme, including statements that involve risks and
uncertainties concerning: its commercialization and production plans;
the expected nameplate capacity of its facilities and the timing of the
ramp up of its facilities. 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 within the meaning of the
Private Securities Litigation Reform Act of 1995. 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; implementation risk in deploying
new technologies; its limited experience in constructing, ramping up and
operating commercial manufacturing facilities; the availability of
consistent, reliable power and steam; its ability to enter into and
maintain strategic collaborations; its ability to obtain requisite
regulatory approvals; 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.
In addition, please refer to the documents that Solazyme, Inc. files
with the Securities and Exchange Commission, including its Quarterly
Reports on Form 10-Q, 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.
Copyright Business Wire 2014