Solazyme, Inc. (NASDAQ: SZYM), a renewable oil and bioproducts company, announced today the successful completion of multiple initial fermentations at ADM’s Clinton, Iowa facility. In these runs, Solazyme achieved commercial scale production metrics, exhibited linear scalability of its process from laboratory scale, and demonstrated the ability to run at this scale without contamination. The fermentations were conducted in approximately 500,000-liter vessels, which are about four times the scale of the vessels in Solazyme’s Peoria facility. Solazyme is initially targeting annual production of 20,000 metric tons of oil starting in early 2014 at the ADM facility, with targeted expansion to 100,000 metric tons.
The scale achieved at ADM’s Clinton facility is comparable to the fermentation equipment currently under construction at the Solazyme Bunge Renewable Oils facility in Brazil. This 100,000 metric ton annual nameplate capacity facility in Brazil is on schedule to begin operations in Q4 2013.
“Working with ADM’s world class fermentation team to achieve commercial scale operations at the ADM facility shortly after announcing the partnership exhibits our ability to rapidly and successfully scale in large commercial fermentation facilities,” stated Peter Licari, CTO, Solazyme. “Solazyme is currently developing commercial facilities in the US, France and Brazil, and with these runs we have now achieved linear scale-up of over 70,000-fold from our labs.”
Solazyme is utilizing ADM’s existing Clinton, Iowa, manufacturing facility in a capital-efficient expansion of its renewable oil production platform in North America. As part of that arrangement, Solazyme has the ability to fund certain payments with equity rather than cash. To facilitate the equity payments, the Company filed a registration statement with the SEC today.
Solazyme, Inc. (NASDAQ: 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 three target markets: (1) fuels and chemicals, (2) nutrition and (3) skin and personal care.
Solazyme®, the Solazyme logo and other trademarks or service names are trademarks of Solazyme, Inc.
Forward Looking Statements
This press release contains certain forward-looking statements about Solazyme, including statements that involve risks and uncertainties concerning: its future ability to run fermentations without meaningful contamination and at commercial scale metrics; the expected production capacity of the ADM and Moema facilities; the timing of production at such facilities; the future expansion of the capacity of the ADM facility; its future ability to scale its production process in other facilities; and Solazyme's ability to maintain its relationships with its partners. 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; its limited experience in constructing and operating commercial manufacturing facilities; market acceptance of its products; delays related to construction or start-up of production facilities; its access to adequate supply of feedstock on favorable terms; its ability to manage operational costs at production facilities; its ability to manage operational costs at production facilities; 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 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.