Solazyme Commits to Commercializing Algal Renewable Oil for Food and Fuel at 2009 Clinton Global Initiative
Solazyme Commits to Commercializing Algal Renewable Oil for Food and Fuel
Company Announces Commitment at the 2009 Clinton Global Initiative, Achieves "The Green Leap" Certificate
South San Francisco, CA – September 24, 2009 – Solazyme, Inc., the leader of renewable oil production and algal biotechnology, announced its commitment to commercialize algal renewable oil production technology for food and fuel at the 2009 Clinton Global Initiative. The fuels will reduce emissions of carbon and promote energy independence by developing cost-effective advanced biofuels from algae.
"Bringing a commitment to the Clinton Global Initiative solidifies Solazyme’s dedication and progress toward commercialization of our renewable oil production technology from algae," said Jonathan Wolfson, CEO of Solazyme. "Our technology can help the U.S. combat global climate change and promote energy independence."
The first implementation of Solazyme’s large scale renewable oil production platform will occur in research and development, as well as producing and developing fuels for the Navy from algae. Solazyme's project with the Department of Defense, which is just one component of a larger commercialization strategy, will ultimately deliver 20,000 gallons of 100% algae renewable F-76 marine fuel and 1,500 gallons of JP-5 jef fuel to the Navy.
In addition, Solazyme's technology produces natural algal oils for food. The company has developed highly nutritious, high-oleic edible oils as well, providing a new and renewable source of natural oils for the world's food sources.
"We have developed breakthrough technology that can be used to tackle two of the world's most pressing issues of climate change and hunger," said Wolfson.
Wolfson, on behalf of Solazyme, was presented with a special award at the Clinton Global Initiative from RK Pachauri, chairman of the Intergovernmental Panel of Climate Change (IPCC). The company was one of two recognized as a "Green Leap" for developing a technology that leaps forward to combat the world’s climate challenge.
Solazyme, Inc. is a renewable oil and bioproducts company and the leader in algal biotechnology. Founded in 2003 and headquartered in South San Francisco, Solazyme’s unique technology allows algae to produce oil and biomaterials in standard fermentation facilities quickly, efficiently and at large scale. These natural oils and biomaterials are tailored not only for fuel production, but also as replacements for fossil-derived petroleum and a variety of natural plant oils and compounds, making them useful in a wide range of products: from oleochemicals, to cosmetics, to foods. Solazyme’s oils and fuels provide compelling solutions to increasingly complex issues of fuel scarcity, energy security and environmental impact while fitting cleanly into the pre-existing multi-trillion dollar fuel infrastructure. Solazyme’s investors among others include Braemar Energy Ventures, Harris & Harris Group, Lightspeed Venture Partners, The Roda Group, and Vantage Point Venture Partners. For more information, please visit our website: http://www.solazyme.com.
CA Contact: Genet Garamendi, Solazyme 650-963-5228 ggaramendi [at] solazyme [dot] com
DC Contact: David Di Martino, 202-247-7271 dd [at] bluelinesc [dot] com