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Solazyme and Imperium Renewables Enter Algal Oil Feedstock Agreement for Biodiesel Production
6 June 2007
Solazyme, an algal biotechnology company, and Imperium Renewables have entered into a biodiesel feedstock development agreement in which Solazyme will generate algal oil for Imperium’s biodiesel production process.
Under the agreement, Solazyme will grow its proprietary strains of microalgae, extract the oil, and deliver it to Imperium. Imperium will convert the feedstock oil using its proprietary technology into biodiesel fuel in its Seattle plant.
Imperium has publicly expressed interest in the opportunity for algal derived biodiesel for some time and we are pleased to work with them to make this a reality. This agreement not only demonstrates Imperium’s vision to seek out new and innovative sources of biodiesel feedstock but it also provides validation of demand for alternative sources of biodiesel feedstock as well as for our technology.—Harrison Dillon, Solazyme CEO
Solazyme, founded in 2003, genetically engineers various species of algae to produce pharmaceuticals, chemicals and fuels. The company’s technology platform consists of several integrated methods and techniques: directed evolution; high-throughput robotic screening; proprietary techniques; and metabolic engineering. The company has increased its focus on biofuel development, and recently closed a round of funding. (Earlier post.)
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