Solazyme Bunge Renewable Oils Plant Begins Commercial Production in Brazil
May 29 2014 - 5:30AM
Business Wire
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.
Solazyme, Inc.Genet Garamendi, 650-780-4777VP Corporate
CommunicationsPress@Solazyme.com