Solazyme, Ecopetrol extend partnership

Solazyme, Inc., a renewable oil production company based in San Francisco, Calif., announced that it has signed its third development agreement with the largest and primary petroleum company in Colombia, Ecopetrol S.A., to analyze the viability of manufacturing algae-based diesel fuel using renewable Colombian feed stocks, such as sugarcane and glycerol, a by-product during biodiesel production. Ecopetrol has a strategic goal to provide at least 450 million tons of fuel from renewable oil sources by 2015. After a two-year research and development relationship, Solazyme and Ecopetrol will now move into the third phase, which includes establishing feedstock specifications and optimization, as well as conducting large-scale fermentation and engineering of demonstration scale facilities. Following this phase, the parties plan to move toward commercial deployment of renewable oil and fuel production. (October 7, 2010)