Harris & Harris Group Notes Solazyme and Mitsui Multi-Year Agreement
NEW YORK, Feb. 7, 2013 (GLOBE NEWSWIRE) -- Harris & Harris Group, Inc.
(Nasdaq:TINY), an early-stage, active investor in transformative
nanotechnology companies, notes that Solazyme, Inc., and Mitsui & Co. 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 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.Solazyme's press release can be viewed at
Harris & Harris Group is an investor in publicly traded Solazyme, Inc.
Detailed information about Harris & Harris Group and its holdings can be found
on its website at www.HHVC.com.
This press release may contain statements of a forward-looking nature relating
to future events. These forward-looking statements are subject to the inherent
uncertainties in predicting future results and conditions. These statements
reflect the Company's current beliefs, and a number of important factors could
cause actual results to differ materially from those expressed in this press
release. Please see the Company's Annual Report on Form 10-K for the fiscal
year ended December 31, 2011, as well as subsequent filings, filed with the
Securities and Exchange Commission for a more detailed discussion of the risks
and uncertainties associated with the Company's business, including, but not
limited to, the risks and uncertainties associated with venture capital
investing and other significant factors that could affect the Company's actual
results. Except as otherwise required by Federal securities laws, the Company
undertakes no obligation to update or revise these forward-looking statements
to reflect new events or uncertainties. The references to the websites
www.HHVC.com and www.solazyme.com have been provided as a convenience, and the
information contained on such websites is not incorporated by reference into
this press release.Harris & Harris Group is not responsible for the contents
of third party websites.
CONTACT: DOUGLAS W. JAMISON
TEL. NO. (212) 582-0900
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