Solazyme, Bunge form joint venture

Solazyme, Inc. and units of the U.S. agribusiness group, Bunge Ltd., have agreed to set up a joint venture in Brazil. Solazyme Bunge Produtos Renovaveis Ltd., a sugar-to-oil joint venture, will build and operate a facility near Bunge’s Moema sugar-cane mill in Brazil. Using Bunge’s sugar-cane supply and processing capabilities coupled with Solazyme’s renewable tailored oil production technology, the joint venture will produce sustainable tailored triglyceride oils which will be used for oleochemical and fuel applications in Brazil. Bunge said the joint venture, which will begin operations in the second half of 2013, presents an opportunity to broaden the company’s offerings and will address the increasing demand from the fuels and oleochemicals sectors. At the same time, it will ensure new opportunities for growth in the sugar and bioenergy sectors. Solazyme said the deal will provide the company with the needed capacity for renewable tailored oils production which will help meet the strong demand in its initial target markets. (April 5, 2012)