Solazyme and Dow sign contingent offtake agreement

Solazyme, Inc. and The Dow Chemical Company entered into a contingent offtake agreement under which Dow will purchase all of its requirements of non-vegetable microbe-based oils from Solazyme, to be used in dielectric fluid applications through 2015. Higher flash point and an ability to provide additional functionality improve the operating efficiency while also extending the useful life of transformers which all factor into an increase in fire safety. “Solazyme’s unique biotechnology-based oils platform has created a new market opportunity to develop and produce the next-generation of safe, renewable, dielectric insulating fluids that provide increased performance benefits,” said Jonathan Wolfson, CEO of Solazyme. “We have continued to reach technological advancements ahead of schedule with Dow, enabling us to further progress our commercial relationship.” (May 2, 2012)