Solazyme agrees with ADM commercialize renewable oils

Solazyme agrees with ADM to commercialize renewable oils

10:07 AM, 15th November 2012
Solazyme agrees with ADM to commercialize renewable oils
Jonathan Wolfson, CEO Solazyme.

SOUTH SAN FRANCISCO, US: Solazyme Inc and Archer-Daniels-Midland (ADM) Company signed a strategic collaboration, manufacturing and market development agreement in which Solazyme and ADM will produce Solazyme’s tailored algal oils in ADM’s advanced fermentation plant at Clinton, Iowa.

These oils will be sold primarily to the industrial and nutritional markets in North America.

Minor retrofitting and permitting for the Clinton fermentation plant will begin immediately. Commercial production is expected to begin in early 2014. Solazyme will initially target production of 20,000 metric tonne of oil in 2014, with an aim to increase production to 100,000 metric tonne in subsequent years.

“This agreement with ADM will further establish our commercial footprint in the US for renewable oil capacity. This world-class facility and operating team are perfectly suited to run our tailored oil fermentation technology. Further, the location’s substantial renewable oil production capacity is in close proximity to our North American target customers,” said Jonathan Wolfson, CEO Solazyme.

“ADM is also one of the largest marketers and suppliers of triglyceride oils with decades of experience and expertise in fats and oils. This collaboration offers a unique opportunity for Solazyme to access both capital-efficient manufacturing capacity and ADM’s unique research and application resources,” he added.

“This agreement with Solazyme allows us to profitably redeploy a world-class manufacturing asset that was previously used for PHA production and has been idle since January 2012,” said Mark Bemis, Senior VP and President, Corn, ADM.

“Solazyme has a portfolio of products for food and industrial applications that we think makes this collaboration an excellent option for this facility,” said Bemis.

© WOC News




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