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Solazyme and Mitsui Enter into Multi-Year Agreement to Jointly Develop a New Suite of Tailored Algal Oils



  Solazyme and Mitsui Enter into Multi-Year Agreement to Jointly Develop a New
  Suite of Tailored Algal Oils

     New suite of sustainable, highly functional oils brings significant
     breakthroughs to the oleochemicals and functional fluids industries

Business Wire

SOUTH SAN FRANCISCO, Calif. -- February 6, 2013

Solazyme, Inc. (NASDAQ: SZYM), a renewable oil and bioproducts company, and
Mitsui & Co., Ltd. announced today that they have entered into a $20 million
multi-year agreement to jointly develop a suite of triglyceride oils for use
primarily in the oleochemical industry. The agreement includes further
development of Solazyme’s breakthrough high myristic algal oil, a valuable raw
material in the oleochemical industry, as well as additional oils that
Solazyme is developing for the oleochemical and industrial sectors.

Product development is expected to span a multi-year period, with periodic
product introductions throughout the term of the joint development alliance.
End use applications may include renewable, high-performance polymer additives
for plastic applications, aviation lubricants, and toiletry and household
products.

“Mitsui’s extensive knowledge of the end use markets for the jointly-developed
triglyceride products, including both the oleochemical industry and
applications further downstream, makes Mitsui an ideal fit for Solazyme,” said
Jonathan Wolfson, CEO, Solazyme. “We look forward to rapid progress on our
research and development efforts, and to commercialize these novel products
thereafter.”

“Collaborating with Solazyme allows us to develop highly attractive products
to penetrate the traditional oleochemicals industry, and expand beyond the
supply limitations caused by both regional oil production and constraints in
conventional oil profiles. Solazyme’s flexible manufacturing process and oil
tailoring capabilities helps to support long-term competitiveness, independent
of price swings inherent to this industry, while allowing us to produce
tailored oils that are in demand in the marketplace,” said Mr. Daiji Kojima,
General Manager of Specialty chemicals Division, Mitsui. “Mitsui looks forward
to strengthening its position in the oleochemicals industry through the
successful development and commercialization of these novel products as a
potential source of new sustainable materials to oleochemical companies
including Mitsui’s subsidiary, Palm-Oleo Sdn.Bhd.”

About Solazyme:

Solazyme, Inc. is a renewable oil and bioproducts company that transforms a
range of low-cost plant-based sugars into high-value tailored 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's oils and
fuels provide compelling solutions to increasingly complex issues of fuel
scarcity, energy security and environmental impact while fitting into the
pre-existing multi-trillion dollar fuel infrastructure. For more information,
please visit our website: http://www.solazyme.com

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

About Mitsui & Co., Ltd.:

Mitsui is one of the most diversified and comprehensive trading, investment
and service enterprises in the world, with 154 offices in 69 countries as of
April, 2012. Utilizing the global operating locations, network and information
resources, Mitsui is pursuing business opportunities in a wide variety of
fields, ranging from product sales, worldwide logistics and financing, through
to the development of major international infrastructure and other projects in
the following fields, Iron & Steel Products, Mineral & Metal Resources,
Infrastructure Projects, Motor Vehicles & Construction Machinery, Marine &
Aerospace, Chemicals, Energy, Food Resources, Food Products & Services,
Consumer Services, IT, Financial & New Business and Transportation Logistics.
Mitsui is actively taking on challenges for global business innovation around
the world. For more information, visit http://www.mitsui.com

This press release contains certain forward-looking statements about Solazyme,
including statements that involve risks and uncertainties concerning: the
total value of the funding of the development agreement; the attributes of any
oils developed pursuant to the agreement; the potential uses of such oils; the
ability to launch successful products from such development; the speed of any
such development; market demand for such products; the impact of new product
introduction on long-term competitiveness and pricing; the possibility that
the parties will establish commercial production assets; 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; market acceptance of its products; its ability to
enter into and maintain strategic collaborations; 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, as updated from time to time, 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 of Communications
Press@solazyme.com
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