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
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."
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.
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.
For Imperium Renewables:
John Williams, Scoville PR
For Solazyme, Inc.:
Director of Business Development
SOURCE Solazyme, Inc.