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Sapphire Energy gets $144M in its fuel tank to turn algae into gasoline
Posted On: April 13, 2012Sapphire Energy, a company that creates algae-based fuel, just announced a whopping $144 million in funding.
In recent years several startups have emerged to create fuel out of plant material, all hoping to lure people away from gasoline made from crude oil. Solazyme, Algae.tec, and Sapphire Energy all dominate the space, trying to edge out not only each other but oil companies as well.
All three companies covert algae into a petroleum replacement, one that can work with the traditional cars we already have on the road.
Solazyme Expands Algenist Distribution Channels to Include Sephora Canada and The Shopping Channel
Posted On: July 7, 2011Solazyme, Inc. a renewable oil and bioproducts company, has signed agreements with Sephora Canada and the leading Canadian multimedia retailer, The Shopping Channel®, to launch Algenist™, Solazyme’s microalgae-based prestige anti-aging skincare line throughout the country. In an unprecedented beauty launch that couples world-class biotechnology with Canada’s most prominent beauty retailers, the Algenist product line will begin selling in all 26 Canadian Sephora stores and on The Shopping Channel’s highest rated beauty programming starting in July 2011.
Algenist is a product line of advanced anti-aging skincare products formulated with Solazyme’s breakthrough ingredient, alguronic acid, an unexpected discovery which was found by the company’s leading biotechnology scientists while researching microalgae for renewable energy solutions. When studied for potential anti-aging benefits, alguronic acid demonstrated significant results and outperformed some of the most well known anti-aging ingredients on the market including hyaluronic acid, retinol and vitamins C and E.
“Algenist comes from a lineage of biotechnology expertise that is not only pioneering the future of skincare, but reinvigorated the luxury skin and personal care space,” said Frederic Stoeckel, Senior Vice President & General Manager, Solazyme Health Sciences. “Sephora and The Shopping Channel provide incredible support and access to some of the largest markets in the world and we look forward to a successful launch with their respective audiences in Canada.”
Solazyme and Bunge Sign JDA Partnership for Production of Renewable Triglyceride Oils
Posted On: May 6, 2011Solazyme, Inc., a leading renewable oils and bioproducts company, today announced a two-year joint development agreement (JDA) with Bunge Limited (NYSE: BG) to develop microbe-derived oils utilizing Brazilian sugar cane feedstock. The agreement builds on Bunge’s earlier equity investment in Solazyme, and the letter of intent signed by both firms in December 2010 that contemplates a manufacturing joint venture for the production of tailored oils at Bunge’s sugar cane mills in Brazil.
Under the terms of the agreement, Solazyme will leverage its algal fermentation technology in combination with Bunge’s oil processing and milling capabilities to cost-effectively produce targeted triglyceride oils. Development will take place at Bunge’s facility in Moema, Brazil, and at Solazyme’s laboratories in South San Francisco and Campinas, Brazil.
To further align the incentives of both parties, the two companies also entered into a Warrant Agreement. This agreement issues a warrant to Bunge for shares of Solazyme that vests upon the successful completion of key milestones, ultimately targeting the construction of a commercial facility with 100,000 metric tons of output oil coming online in 2013.
Solazyme, Sephora and QVC Announce Agreements for the U.S. and International Launch of Solazyme’s New Anti-Aging Skincare Line, Algenist™
Posted On: March 9, 2011Solazyme, Inc., the leading industrial biotechnology company producing renewable oil and bioproducts from microalgae, has signed agreements with leading beauty retailer Sephora® and leading global multimedia retailer QVC® to launch Algenist™, Solazyme’s microalgae-based prestige anti-aging skincare line, in the U.S. and internationally. Beginning in March 2011, Algenist will be available on QVC in the U.S. and in over 800 Sephora stores in seven countries throughout Europe and in the US before expanding to Asia and the Middle East. Sephora and QVC will align their powerful promotional efforts behind Algenist in an unprecedented launch.
“We are constantly looking for the latest groundbreaking products to debut to our beauty customer who is both an early adopter and a beauty enthusiast. Algenist is the perfect addition to our growing assortment of premium beauty products.”
Algenist is a line of advanced anti-aging skincare products formulated with Solazyme’s breakthrough ingredient, alguronic acid. Solazyme’s biotechnology scientists unexpectedly discovered alguronic acid, a true breakthrough in the anti-aging market, after studying thousands of microalgae strains for renewable energy solutions. When researched for potential anti-aging benefits, alguronic acid demonstrated significant rejuvenating properties.
Roquette Partners with Solazyme on Microalgae Joint Venture
Posted On: November 9, 2010Solazyme, Inc. the California-based leader in renewable oil and bioproducts and Roquette Frères, the global starch and starch-derivatives company headquartered in France, today announce that they have signed a joint venture (JV) agreement for the production, commercialization and market development of microalgae-derived food ingredients, subject to regulatory approvals and notifications.
The JV is being formed to launch an entirely new category of natural, healthy and functional ingredients based on microalgae that provide superior nutritional properties along with outstanding taste and texture. Solazyme-Roquette Nutritionals plans to launch a variety of oil, protein and fiber based products aimed at delivering improved performance with a vastly superior health profile compared to ingredients in the market today.
The JV, which will be 50% owned by each parent company, will be named Solazyme-Roquette Nutritionals, and will be operational by the beginning of 2011. The JV’s management team and board of directors will be drawn from both parent companies with Solazyme’s CEO, Jonathan Wolfson serving as the initial CEO of the JV. Roquette will fund and build a JV-owned, commercial-scale manufacturing plant with capacity in the tens of thousands of tons of annual production, sited at a Roquette corn wet mill. In addition, Roquette will provide upfront licensing payments to Solazyme and working capital to fund the JV until reaching profitability.
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