Global Teams to Jointly Commercialize Breakthrough Algae Oils and
Ingredients for Sustainable and Healthier Foods
Solazyme (Nasdaq:SZYM) (“Solazyme”), a pioneer in microalgae innovation
and Bunge Limited (NYSE:BG) (“Bunge”), a leading global agribusiness and
food company, today announced they have agreed to expand their joint
venture (“JV”) to include a focus on food. The expansion includes a
range of breakthrough oils for food and products for animal nutrition.
The expanded joint venture will build on Solazyme’s ground-breaking
microalgae innovation platform, and on Bunge’s global leadership in food
and ingredients, including vegetable oils. As part of the JV expansion,
the partners also entered into an agreement to expand their co-funded
research programs to include new unique products in nutrition and
specialty fats. Manufacturing will take place in the JV’s world-class
fully operational facility in São Paulo state, Brazil, site of the
largest aerobic fermentation vessels in the world.
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As part of the agreement, AlgaWise™ Ultra Omega-9 Algae Oil, AlgaWise™
High Stability Algae Oil and AlgaWise™ Algae Butter structuring fats
will be marketed by Bunge’s established global food oil sales and
applications team, who bring strong expertise and a global footprint. In
addition, Bunge will handle oil processing and supply chain aspects of
commercialization.
AlgaWise™ food oils to sustainably advance human nutrition
The expanded JV will manufacture and commercialize a range of new to the
world, highly differentiated products, each providing breakthrough
solutions to meet major needs in the food industry:
-
AlgaWise™ Ultra Omega-9 Algae Oil is a clean tasting oil with the
highest level of monounsaturated fats (>90%) on the market and the
lowest level of saturated fat of any food oil (<4%). This oil is ideal
for meeting market demand for healthier alternatives to saturated fat
oils, providing shelf-life stability and excellent culinary
performance with one of the highest smoke points available.
-
AlgaWise™ High Stability Algae Oil delivers step change performance
with one of the highest stabilities of any oil on the market, over 87%
monounsaturated fatty acids and only 2% polyunsaturates, less than any
other food oil. High Stability Algae Oil drives unprecedented
oxidative stability with zero trans-fat per serving. With an
exceptionally neutral flavor and high stability under varying
conditions, this is a high performance oil that works well in
industrial frying, spraying/coating, pan spraying and blending. It can
enable food manufacturers to remove added preservatives in everyday
favorite foods such as dressings and mayonnaise, achieving cleaner
labels with fewer ingredients, as well as completely removing
partially hydrogenated vegetable oils.
-
AlgaWise™ Algae Butter has a composition and functionality mirroring
high value structuring fats such as shea stearin, with a high
proportion of stearic-oleic-stearic triglycerides (~70%). This unique
oil can be used in a wide range of products. It is expected to have
significant value in confectionery based on its reliable, scalable and
sustainable supply, as well as offering a better performing
alternative for bakery, confectionary, spreads and other applications.
The product is expected to be available for the U.S. market in 2016.
Soren Schroder, CEO, Bunge Limited, said, “Strengthening our
relationship with Solazyme gives us a differentiated product offering in
specialty food and feed ingredients. With Solazyme, we believe we are
bringing true innovation and enhanced sustainability to the global food
industry. These healthier algae products have tremendous potential to
make a positive impact in nutrition and functionality for our customers
around the globe, and we’re excited about the potential to broadly
commercialize them.”
“Bunge is a leading global agribusiness and food company, and has been a
strong long-term partner who shares our vision. Not only do they have
fantastic capabilities but they also understand the value of both our
ingredients and our underlying technology platform. We are very happy to
be deepening and expanding the partnership to include Bunge’s global
food sales, marketing, and applications strength and presence. This will
further enable our algae-based food ingredients to bring great benefits
to people and our planet,” commented Jonathan Wolfson, Solazyme’s CEO.
Sustainability
The products in the scope of the JV will be produced at the joint
venture’s manufacturing facility in Brazil adjacent to Bunge’s Moema
sugarcane mill. The oils produced have one of the lowest carbon and
water footprints of any broadly available vegetable oils and achieve
substantially higher oil yields per acre than those of most oilseed
crops.
History of collaboration
Today’s announcement follows a history of collaboration between the two
companies, beginning with Bunge’s 2010 equity investment in Solazyme,
followed by the original Joint Venture agreement in April 2012 that
established the production facility at Moema as well as multiple jointly
funded development programs over that period of time.
About Solazyme, Inc.
Solazyme, Inc. develops and sells innovative, sustainable,
high-performance oils and ingredients that are better for people and
better for the planet. Starting with microalgae, one of the world’s
original sources of oil, Solazyme creates renewable oils and ingredients
that serve as the foundation for creating healthier foods;
high-performance industrial products; unique home and personal care
solutions; and more sustainable fuels. Headquartered in South San
Francisco, Solazyme’s mission is to solve some of the world’s biggest
problems with one of the world’s smallest and earliest life forms:
microalgae. For additional information, please visit Solazyme’s website
at www.solazyme.com.
Solazyme®, AlgaWise™, and the Solazyme logo are trademarks of
Solazyme, Inc.
About Bunge
Bunge Limited (www.bunge.com,
NYSE: BG) is a leading global agribusiness and food company operating in
over 40 countries with approximately 35,000 employees. Bunge buys,
sells, stores and transports oilseeds and grains to serve customers
worldwide; processes oilseeds to make protein meal for animal feed and
edible oil products for commercial customers and consumers; produces
sugar and ethanol from sugarcane; mills wheat, corn and rice to make
ingredients used by food companies; and sells fertilizer in South
America. Founded in 1818, the company is headquartered in White Plains,
New York.
Forward Looking Statements
This press release contains certain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995,
including statements that involve risks and uncertainties concerning:
market acceptance of products; and the ability to maintain relationships
with partners. 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 the companies, 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:
limited operating history; limited history commercializing products;
implementation risk in deploying new technologies; limited experience in
ramping up and operating commercial manufacturing facilities; delays
related to ramp-up of production facilities; and availability of
consistent, reliable power and steam. 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.
In addition, please refer to the documents that Solazyme, Inc. files
with the Securities and Exchange Commission, including its Quarterly
Report on Form 10-Q, as updated from time to time, 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.
Cautionary Statement Concerning Forward-Looking Statements
This press release contains both historical and forward-looking
statements. All statements, other than statements of historical fact
are, or may be deemed to be, forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. These
forward-looking statements are not based on historical facts, but rather
reflect our current expectations and projections about our future
results, performance, prospects and opportunities. We have tried to
identify these forward-looking statements by using words including
"may," "will," "should," "could," "expect," "anticipate," "believe,"
"plan," "intend," "estimate," "continue" and similar expressions. These
forward-looking statements are subject to a number of risks,
uncertainties and other factors that could cause our actual results,
performance, prospects or opportunities to differ materially from those
expressed in, or implied by, these forward-looking statements. The
following important factors, among others, could affect our business and
financial performance: industry conditions, including fluctuations in
supply, demand and prices for agricultural commodities and other raw
materials and products used in our business; fluctuations in energy and
freight costs and competitive developments in our industries; the
effects of weather conditions and the outbreak of crop and animal
disease on our business; global and regional agricultural, economic,
financial and commodities market, political, social and health
conditions; the outcome of pending regulatory and legal proceedings; our
ability to complete, integrate and benefit from acquisitions,
dispositions, joint ventures and strategic alliances; our ability to
achieve the efficiencies, savings and other benefits anticipated from
our cost reduction, margin improvement and other business optimization
initiatives; changes in government policies, laws and regulations
affecting our business, including agricultural and trade policies, tax
regulations and biofuels legislation; and other factors affecting our
business generally. The forward-looking statements included in this
release are made only as of the date of this release, and except as
otherwise required by federal securities law, we do not have any
obligation to publicly update or revise any forward-looking statements
to reflect subsequent events or circumstances.
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