Solazyme Announces First U.S. Commercial Passenger Flight on Advanced Biofuel
Flight #1403 from Houston to Chicago flies on 40 percent Solajet™; Signs Letter of Intent for 20 million gallons of renewable aviation fuel per year starting in 2014
South San Francisco, CA – November 7, 2011 – Solazyme, Inc. (NASDAQ: SZYM), a renewable oil and bioproducts company, announced today that United Airlines flew the world's first commercial aviation flight on a microbially-derived biofuel using Solajet™, Solazyme's algae-derived renewable jet fuel. The Eco-skies Boeing 737-800 plane was fueled with 40 percent Solajet and 60 percent petroleum-derived jet fuel. The commercial Eco-skies flight departed from Houston's IAH airport at 10:30AM this morning and landed at Chicago's ORD airport this afternoon.
Solazyme, which is ramping up production capacity to produce 500,000 MT of renewable oil by 2015, also signed a Letter of Intent with United to supply up to 20 million gallons per year (approximately 70,000 MT) of renewable jet fuel starting in 2014.
"Today's historic flight with United marked a significant milestone in the history of aviation, and demonstrated the commercial applicability of our drop-in fuel," said Jonathan Wolfson, CEO, Solazyme. "The U.S. Navy has demonstrated the effectiveness of our fuel in multiple vessels over the past year, and we are honored to be working with industry pioneers such as United and Honeywell's UOP to see this important next step in the commercialization of our renewable fuels."
Solazyme's algae-derived renewable jet fuel, Solajet, was manufactured via Solazyme's proprietary fermentation process and renewable jet fuel processing technology from Honeywell's UOP. Solajet fully complies with the ASTM D7566 specification for Synthetic Paraffinic Kerosene from Hydroprocessed Esters and Fatty Acids, which specifies bio-based fuels intended to be blended with commercial jet fuel (Jet-A).
To date, Solazyme has produced and delivered the largest quantities of microbially-derived advanced biofuels in history. These deliveries include over 375,000 liters of in-specification marine diesel and jet fuel.
About Solazyme, Inc.
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.
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: the future manufacture and delivery of jet fuel by Solazyme and the timing of such delivery; the potential purchase of fuel by United Airlines; the timing and capacity of Solazyme's future oil production and Solazyme's overall commercialization plans. 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 ability to produce in-spec jet fuel at a commercially acceptable price; Solazyme's ability to access sufficient manufacturing capacity; and Solazyme's ability to maintain existing, and establish new, strategic business relationships. 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.
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