Solazyme, Inc., and Imperium Renewables, Inc. Enter Into a Biodiesel Feedstock Development Agreement
SOUTH SAN FRANCISCO, Calif. and SEATTLE, June 6 /PRNewswire/ -- Solazyme, Inc. and Imperium Renewables, Inc. announced that they have entered into a biodiesel feedstock development agreement in which Solazyme will generate algal oil for Imperium's biodiesel production process. Under the agreement Solazyme will grow its proprietary strains of microalgae, extract the oil, and deliver it to Imperium. Imperium will convert the feedstock oil using its proprietary technology into biodiesel fuel in its Seattle plant. Harrison Dillon, Solazyme's Chief Executive Officer commented: "Imperium has publicly expressed interest in the opportunity for algal derived biodiesel for some time and we are pleased to work with them to make this a reality. This agreement not only demonstrates Imperium's vision to seek out new and innovative sources of biodiesel feedstock but it also provides validation of demand for alternative sources of biodiesel feedstock as well as for our technology. Imperium's talented team and excellent technology made them an obvious choice to work with." Jerry Fiddler, Solazyme's Chairman added, "The technology is much farther along than most people realize. Our energy future includes algae which will serve as a biodiesel feedstock of increasing importance. Solazyme's technology and approach to biodiesel feedstock production is both advanced and commercially realistic, and has real advantages over alternative approaches. We are excited about its positive impact on global warming and energy security." About Solazyme Founded in 2003 and headquartered in South San Francisco, California, Solazyme is a leading biotechnology company focused on the engineering and optimization of algae for production of biofuels and health and wellness materials. Solazyme recently closed a Series B financing round allowing for a significant expansion of its biofuel program. http://www.solazyme.com/ About Imperium Renewables Imperium Renewables is a leader in the renewable energy industry. Headquartered in Seattle, Washington, Imperium Renewables currently operates a 5 million gallon per year nameplate capacity production facility through its subsidiary, Seattle Biodiesel, and is currently the largest producer of biodiesel on the West Coast. The Company is constructing a 100 million gallon per year nameplate capacity production facility in Grays Harbor, Washington that is scheduled to open in July 2007. http://www.imperiumrenewables.com Contacts: For Imperium Renewables: John Williams, Scoville PR 206-625-0075, firstname.lastname@example.org For Solazyme, Inc.: Matthew Frome Director of Business Development 650-963-5213, email@example.com
SOURCE Solazyme, Inc.
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