Solazyme and Bunge expand joint venture scope

Solazyme, Inc., a renewable oil and bioproducts company, and leading global agribusiness and food company Bunge Global Innovation, have entered into a Joint Venture Expansion Framework Agreement with the intent to expand oil production capacity at Solazyme Bunge Renewable Oils from the current 100,000 metric tons to 300,000 metric tons by 2015 at selected Bunge-owned and operated processing facilities throughout the world.
The companies also intend to expand the portfolio of oils to be produced from their joint venture facility in Brazil to include tailored food oils for Brazil. They are also working together on market development to bring new healthy and nutritious edible oils to the country. Bunge is the largest supplier of edible oil. Solazyme brings to the JV, renewable oil technology that will provide the flexibility to produce multiple high value oils from a single facility. The two companies have had a strong commercial relationship, and are ready to explore broader opportunities together.
The parties anticipate negotiation of definitive agreements in the coming months. (November 15, 2012)