6 February 2013
Details
Solazyme Inc., and Mitsui & Co., Ltd.
have entered into a $ 20 million multi-year agreement to
jointly develop a suite of
triglyceride oils for use primarily in
oleochemical industry.
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About the agreement
- The agreement includes further development of
Solazyme's breakthrough 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 introduction 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.
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Solazyme
- Mitsui's extensive knowledge of the end use markets
for the jointly-developed triglyceride poroducts, including
both the oleochemical industry and
applications further downstream,
makes Mitsui an ideal fit for Solazyme.
- Solazyme looks forward to rapid progress on
research and development efforts and to commercialize
these novel products thereafter.
Mitsui
- Collaborating with Solazyme allows to
* develop highly attractive products to penetrate
the traditional oleochemical industry, and
* expand beyond the supply limitations
caused by both regional oil production and
constraints in conventional oil profiles.
- Solazyme's flexible manufacturing process and
oil tailoring capabilities
helps to support
* long-term competitiveness,
* independent of price swings
inherent to this industry,
while allowing Mitsui to produce tailored oils
that are in demand in the marketplace.
- Mitsui looks forward to strenghthening its position
in the oleochemical industry through
the successful development and commercialization
of these products as a potential source of
new sustainable materials to oleochemical companies
including Mitsui's subsidiary, Palm-Oleo Sdn. Bhd.
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