Microalgae Innovator Solazyme and Global Starch Producer Roquette Agree to
Dissolve Joint Venture
SOUTH SAN FRANCISCO, Calif. -- June 24, 2013
Solazyme, Inc. (NASDAQ: SZYM) announced today that it has agreed with Roquette
Frères, S.A. to dissolve their joint venture, Solazyme Roquette Nutritionals,
LLC, in accordance with their Joint Venture and Operating Agreement dated
November 3, 2010, by and between Roquette and Solazyme. The parties expect the
formal dissolution to occur in the coming weeks.
The decision to terminate the joint venture was driven by divergent views on
an acceptable commercial strategy and timeline for the manufacturing and
marketing of joint venture products. As a result, Solazyme intends to
accelerate commercialization of its suite of innovative microalgal food
The Joint Venture and Operating Agreement was filed by Solazyme with the
Securities and Exchange Commission as Exhibit 10.10 to Amendment No. 2 to its
Form S-1 Registration Statement on April 13, 2011.
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 and
innovative microalgal food ingredients. 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) chemicals and fuels, (2) nutrition and (3) skin and personal care.
Solazyme®, the Solazyme logo and other trademarks or service names are
trademarks of Solazyme, Inc.
Forward Looking Statements
This press release contains certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 about
Solazyme, including statements that involve risks and uncertainties
concerning: the timing of the formal dissolution of the joint venture; and
Solazyme’s commercialization plans and commercialization timetable for
microalgal food ingredients. 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 within the meaning of the Private
Securities Litigation Reform Act of 1995. 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; its limited experience in constructing and operating commercial
manufacturing facilities; and market acceptance of its products. 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 thatSolazyme,
Inc.files with theSecurities 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.Solazymeis not under any duty to update any of the information in
this press release.
Brainerd Communicators, Inc.
Jeff Majtyka, 212-986-6667
Brad Edwards, 212-986-6667
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