Solazyme Accelerates U.S. Commercialization for Renewable Oils Production with Archer-Daniels-Midland Company Agreement

  Solazyme Accelerates U.S. Commercialization for Renewable Oils Production
  with Archer-Daniels-Midland Company Agreement

   Solazyme to use ADM’s existing Clinton, Iowa, manufacturing facility in
 capital-efficient expansion of up to 100,000 metric tons of renewable algal
                                oil production

Business Wire

SOUTH SAN FRANCISCO, Calif. -- November 14, 2012

Solazyme, Inc. (NASDAQ: SZYM), a renewable oil and bioproducts company, and
Archer-Daniels-Midland Company (NYSE: ADM), a leading global agricultural
processor, announced today the signing of strategic collaboration,
manufacturing and market development agreements in which Solazyme and ADM will
produce Solazyme’s tailored algal oils in ADM’s advanced fermentation plant at
Clinton, Iowa. These oilswill be sold primarily to the industrial and
nutritional markets in North America. Under the terms of the agreement,
Solazyme will initially target the production of 20,000 metric tons of oil in
2014, with an aim to increase production to 100,000 metric tons in subsequent
years.

“This agreement with ADM will further establish our commercial footprint in
the U.S. for renewable oil production capacity at ADM’s Clinton, Iowa
facility. This world-class facility and operating team are perfectly suited to
run our tailored oil fermentation technology. Further, the location’s
substantial renewable oil production capacity is in close proximity to our
North American target customers,” said Jonathan Wolfson, CEO Solazyme. “ADM is
also one of the largest marketers and suppliers of triglyceride oils with
decades of experience and expertise in fats and oils. This collaboration
offers a unique opportunity for Solazyme to access both capital-efficient
manufacturing capacity and ADM’s unique research and application resources.”

ADM’s wet mill, which is adjacent to the fermentation plant, will initially
provide dextrose for the fermentation; and steam and power will be delivered
from ADM’s cogeneration facility that is partially fired with renewable
biomass.

“This agreement with Solazyme allows us to profitably redeploy a world-class
manufacturing asset that was previously used for PHA production and has been
idle since January 2012,” said Mark Bemis, ADM senior vice president and
president, Corn. “Solazyme has a portfolio of products for food and industrial
applications that we think makes this collaboration an excellent option for
this facility.”

Minor retrofitting and permitting for the Clinton fermentation plant will
begin immediately. Commercial production is expected to begin in early 2014.

About Solazyme, Inc.

Solazyme, Inc. (SZYM) is a renewable oil and bioproducts company that
transforms a range of low-cost plant-based sugars into high-value oils.
Headquartered in South San Francisco, Solazyme's renewable products can
replace or enhance oils derived from the world's three existing sources –
petroleum, plants and animal fats. Initially, Solazyme is focused on
commercializing its products into three target markets: (1) fuels and
chemicals, (2) nutrition and (3) skin and personal care.

Solazyme®, the Solazyme logo and other trademarks or service names are
trademarks of Solazyme, Inc.

About ADM

For more than a century, the people of Archer Daniels Midland Company (NYSE:
ADM) have transformed crops into products that serve vital needs. Today,
30,000 ADM employees around the globe convert oilseeds, corn, wheat and cocoa
into products for food, animal feed, industrial and energy uses. With more
than 270 processing plants, 420 crop procurement facilities, and the world’s
premier crop transportation network, ADM helps connect the harvest to the home
in more than 160 countries. For more information about ADM and its products,
visit www.adm.com.

Forward Looking Statements

This press release contains certain forward-looking statements about Solazyme,
including statements that involve risks and uncertainties concerning: its
commercialization plans and commercialization timetable for tailored oils;
market opportunities; the capacity of the facility; development of additional
tailored oils; meeting commercialization and technology targets; and
Solazyme's ability to maintain its relationships with its partners. When used
in this press release, the words “will”, “expects”, “intends” and other
similar expressions and any other statements that are not historical facts are
intended to identify those assertions as forward-looking statements. Any such
statement may be influenced by a variety of factors, many of which are beyond
the control of Solazyme, that could cause actual outcomes and results to be
materially different from those projected, described, expressed or implied in
this press release due to a number of risks and uncertainties. Potential risks
and uncertainties include, among others: Solazyme’s limited operating history;
its limited history in commercializing products; implementation risk in
deploying new technologies; implementation risk in deploying its technology at
ADM’s Clinton facility; its limited experience in constructing and operating
commercial manufacturing facilities; market acceptance of its products; delays
related to retrofitting, permitting or start-up of production facilities; its
access to adequate supply of feedstock on favorable terms; its ability to
enter into and maintain strategic collaborations; its ability to obtain
requisite regulatory approvals; and its access, on favorable terms, to any
required financing. Accordingly, no assurances can be given that any of the
events anticipated by the forward-looking statements will transpire or occur,
or if any of them do so, what impact they will have on the results of
operations or financial condition of Solazyme.

In addition, please refer to the documents that Solazyme, Inc. files with the
Securities and Exchange Commission, including its Quarterly Reports on Form
10-Q for a discussion of these and other risks. You are cautioned not to place
undue reliance on forward-looking statements, which speak only as of the date
of this press release. Solazyme is not under any duty to update any of the
information in this press release.

Contact:

Solazyme, Inc.
Genet Garamendi, 650-780-4777
VP Corporate Communications
Press@Solazyme.com