Solazyme, Bunge expand renewable oil capacity

Solazyme, Bunge to expand renewable oil capacity

10:49 AM, 15th November 2012
Solazyme, Bunge to expand renewable oil capacity
Jonathan Wolfson, CEO, Solazyme.

SOUTH SAN FRANCISCO, US: Solazyme Inc has entered into a joint venture expansion framework agreement with Bunge Global Innovation LLC. The agreement sets forth the intent of the partners to expand joint venture-owned oil production capacity at Solazyme Bunge Renewable Oils from the current 100,000 metric tonne under construction in Brazil to 300,000 metric tonne by 2016 at select Bunge owned and operated processing facilities worldwide.

The companies intend to expand the portfolio of oils to be produced out of their joint venture facility in Brazil. The expanded field and portfolio of oils would include certain tailored food oils for sale in Brazil, where Bunge is the largest supplier of edible oils through several of its retail brands. The parties intend to work together through joint market development to bring new healthy and nutritious edible oils to the Brazilian market.

“Bunge’s global presence in sugar, significant presence in vegetable oil markets and large-scale processing experience make it an ideal partner for Solazyme. Our shared experience to date makes capacity expansion together a very attractive proposition and we look forward to rapid commercialization of the tailored oils we will produce,” said Jonathan Wolfson, CEO, Solazyme.

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