Bloomberg News

Solazyme Gains on Start of Commercial Output at Brazil Factory

May 29, 2014

Solazyme Inc. (SZYM:US), a California-based producer of renewable oils from algae, surged the most in four months after beginning commercial-scale production at a plant it owns with Bunge Ltd. (BG:US) in Brazil.

Solazyme climbed as much as 20 percent, the most on an intraday basis since Jan. 31, and traded at $10.55 at 10:05 a.m. in New York.

The company is producing both oil and lubricants at its plant in Moema, Brazil, which is expected to reach full capacity of 100,000 metric tons per year within the next 12 to 18 months, according to a statement today.

Production in Brazil was delayed into the current quarter after Solazyme had said in November it expected to start in the first three months of 2014.

To contact the reporter on this story: Justin Doom in New York at jdoom1@bloomberg.net

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


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Companies Mentioned

  • SZYM
    (Solazyme Inc)
    • $8.4 USD
    • -0.12
    • -1.43%
  • BG
    (Bunge Ltd)
    • $86.05 USD
    • 0.14
    • 0.16%
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