Solazyme and Unilever Sign Commercial Development Agreement for Renewable Oils

BUSINESS WIRE ^ | 10/17/2011 | Business Wire

[StolarStorm]

SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)-- Solazyme, Inc. (NASDAQ:SZYM - News), a renewable oil and bioproducts company, announced the continuation and expansion of its relationship with Unilever, one of the world’s leading consumer goods companies. The Commercial Development Agreement, which is funded by Unilever, expands the companies’ current research and development efforts and is the fourth agreement the parties have entered into. Upon successful completion of the development agreement and related activities, the two companies have agreed the terms of a multi-year supply agreement in which Unilever would purchase commercial quantities of Solazyme’s renewable oils.

[StolarStorm]

For those interested in commercially viable biofuels and oils. While this article talks about their involvement in oils for cosmetic purposes, it helps fund their effort to create cost effective biofuels; biofuels that can replace the ethanol that is used now and is destructive to car engines (and economically not sustainable).

This is the kind of tech that can help get us off of foreign oil. Drill, and drill some more, and develop alternative energy sources like this while drilling. Low cost energy always leads to an economic boom.

[Hessian]

I’m sure it’s pronounced sola-zyme, but all I can see when I read the name of this company is so-lazy-me...

[PMAS]

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[StolarStorm]

LOL. I agree it’s a terrible name.

[StolarStorm]

Found this presentation that does a pretty good job of explaining how they do what they do:

Presentation

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Better than engine destroying ethanol...

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Found some articles about their connection to the Department of Defense.

The Navy’s ‘flex-fuel fleet’ starts with RCB-X

The U.S. Navy and Biofuels

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bump

[StolarStorm]

The company has also sealed deals with the Department of Energy and the U.S. Navy. On June 20, Solazyme announced that the Navy had conducted a successful test flight of its Seahawk helicopter using a 50/50 blend of its algal-derived Solajet jet fuel.