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Solazyme Delays Production at Brazil Plant Until First Quarter

Nov. 5 (Bloomberg) -- Solazyme Inc., a U.S. producer of renewable oil from algae, expects to begin commercial production at its Moema plant in Brazil later than planned.

“Our timeline for oil production at Moema has been moved” into the first quarter, the South San Francisco-based company said today in an earnings statement. “We are excited to be nearing commercial production.”

Solazyme said in August that the plant was 80 percent complete and would begin initial commercial-scale operations this year. The delay is due “in part to accommodate additional enhancements we are making at the facility,” according to the statement.

The company makes oils from sugar-consuming algae that are processed into renewable fuel and specialty chemicals.

Link to Statement:{NSN MVT6KCMEQTXQ <GO>}

Link to Company News:{SZYM US <Equity> CN <GO>}

To contact the editor responsible for this story: Will Wade at wwade4@bloomberg.net

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