Bloomberg News

Solazyme to Expand Renewable-Oil Production With Bunge, ADM

November 14, 2012

Solazyme Inc. (SZYM:US), which makes oil products from sugar-consuming algae, will expand production capacity through partnerships with Bunge Ltd. (BG:US) and Archer- Daniels-Midland Co.

The company plans to open a plant in 2014 at an ADM facility in Iowa. It will also triple the planned output from an existing venture with Bunge, according to e-mailed statements today from South San Francisco, California-based Solazyme.

The ADM plant will produce 20,000 metric tons of oil in 2014, and may eventually expand to 100,000 tons a year. Bunge and Solazyme are building a plant in Brazil that will be able to make 100,000 tons a year starting in the fourth quarter of 2013, and Bunge will use the same technology to generate a total of as much as 300,000 tons a year at multiple facilities by 2016.

To contact the reporter on this story: Andrew Herndon in San Francisco at aherndon2@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net


Silicon Valley State of Mind
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

Companies Mentioned

  • SZYM
    (Solazyme Inc)
    • $9.49 USD
    • -0.12
    • -1.26%
  • BG
    (Bunge Ltd)
    • $82.28 USD
    • -0.61
    • -0.74%
Market data is delayed at least 15 minutes.
 
blog comments powered by Disqus