Global Teams to Jointly Commercialize Breakthrough Algae Oils and
Ingredients for
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As part of the agreement, AlgaWise™ Ultra Omega-9 Algae Oil, AlgaWise™
High Stability Algae Oil and AlgaWise™ Algae Butter structuring fats
will be marketed by Bunge's established global food oil sales and
applications team, who bring strong expertise and a global footprint. In
addition,
AlgaWise™ food oils to sustainably advance human nutrition
The expanded JV will manufacture and commercialize a range of new to the world, highly differentiated products, each providing breakthrough solutions to meet major needs in the food industry:
- AlgaWise™ Ultra Omega-9 Algae Oil is a clean tasting oil with the highest level of monounsaturated fats ( > 90%) on the market and the lowest level of saturated fat of any food oil (
- AlgaWise™ High Stability Algae Oil delivers step change performance with one of the highest stabilities of any oil on the market, over 87% monounsaturated fatty acids and only 2% polyunsaturates, less than any other food oil. High Stability Algae Oil drives unprecedented oxidative stability with zero trans-fat per serving. With an exceptionally neutral flavor and high stability under varying conditions, this is a high performance oil that works well in industrial frying, spraying/coating, pan spraying and blending. It can enable food manufacturers to remove added preservatives in everyday favorite foods such as dressings and mayonnaise, achieving cleaner labels with fewer ingredients, as well as completely removing partially hydrogenated vegetable oils.
- AlgaWise™ Algae Butter has a composition and functionality mirroring high value structuring fats such as shea stearin, with a high proportion of stearic-oleic-stearic triglycerides (~70%). This unique oil can be used in a wide range of products. It is expected to have significant value in confectionery based on its reliable, scalable and sustainable supply, as well as offering a better performing alternative for bakery, confectionary, spreads and other applications. The product is expected to be available for the U.S. market in 2016.
'Bunge is a leading global agribusiness and food company, and has been a
strong long-term partner who shares our vision. Not only do they have
fantastic capabilities but they also understand the value of both our
ingredients and our underlying technology platform. We are very happy to
be deepening and expanding the partnership to include Bunge's global
food sales, marketing, and applications strength and presence. This will
further enable our algae-based food ingredients to bring great benefits
to people and our planet,' commented
Sustainability
The products in the scope of the JV will be produced at the joint
venture's manufacturing facility in
History of collaboration
Today's announcement follows a history of collaboration between the two
companies, beginning with Bunge's 2010 equity investment in
About
Solazyme®, AlgaWise™, and the
About
Forward Looking Statements
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements that involve risks and uncertainties concerning: market acceptance of products; and the ability to maintain relationships with 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 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 the companies, 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: limited operating history; limited history commercializing products; implementation risk in deploying new technologies; limited experience in ramping up and operating commercial manufacturing facilities; delays related to ramp-up of production facilities; and availability of consistent, reliable power and steam. 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.
In addition, please refer to the documents that
Cautionary Statement Concerning Forward-Looking Statements
This press release contains both historical and forward-looking statements. All statements, other than statements of historical fact are, or may be deemed to be, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are not based on historical facts, but rather reflect our current expectations and projections about our future results, performance, prospects and opportunities. We have tried to identify these forward-looking statements by using words including 'may,' 'will,' 'should,' 'could,' 'expect,' 'anticipate,' 'believe,' 'plan,' 'intend,' 'estimate,' 'continue' and similar expressions. These forward-looking statements are subject to a number of risks, uncertainties and other factors that could cause our actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. The following important factors, among others, could affect our business and financial performance: industry conditions, including fluctuations in supply, demand and prices for agricultural commodities and other raw materials and products used in our business; fluctuations in energy and freight costs and competitive developments in our industries; the effects of weather conditions and the outbreak of crop and animal disease on our business; global and regional agricultural, economic, financial and commodities market, political, social and health conditions; the outcome of pending regulatory and legal proceedings; our ability to complete, integrate and benefit from acquisitions, dispositions, joint ventures and strategic alliances; our ability to achieve the efficiencies, savings and other benefits anticipated from our cost reduction, margin improvement and other business optimization initiatives; changes in government policies, laws and regulations affecting our business, including agricultural and trade policies, tax regulations and biofuels legislation; and other factors affecting our business generally. The forward-looking statements included in this release are made only as of the date of this release, and except as otherwise required by federal securities law, we do not have any obligation to publicly update or revise any forward-looking statements to reflect subsequent events or circumstances.
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Solazyme Contacts:
Genet Garamendi
Corporate
Communications
press@solazyme.com
or
smarg@braincomm.com
edwards@braincomm.com
or
Investor Contact:
mark.haden@bunge.com
Media
Contact:
susan.burns@bunge.com
Source:
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