Solazyme signs another $20M partnership deal
Solazyme has become masterful at forming partnerships to commercialize its renewable oils and products derived from algae.
Solazyme Inc., a South San Francisco-based maker of renewable oils, has signed a $20 million partnership with Mitsui Co., to produce products that could be used in plastics, lubricants and household products.
Product development will span multiple years, Solazyme said.
Solazyme has partnership agreements with many large companies. It's platform, which uses algae to convert sugars into oils, can be used to produce products ranging from renewable diesel fuel to anti-aging creams to algae flour and other food products.
Solazyme's other partners include Bunge and Archer-Daniels-Midland Co., Roquette and Unilever.
"Mitsui's established business relationships and expertise as a large player in the industry stand as beneficial attributes from Solazyme's perspective," wrote Kevin Quon, a Solazyme investor who blogs for Seeking Alpha. "It's important to remember that Solazyme is leveraging the capabilities of its partners in order to quickly and effectively commercialize its technology platform."
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