Solazyme, AkzoNobel enter agreement spanning surfactants and coatings markets

Solazyme, Inc., a renewable oil and bioproducts company, and AkzoNobel, a leading global paints and coatings company and a major producer of specialty chemicals, announced today that they have entered into an agreement targeting the development of advanced tailored oils and commercial sales for near-term product supply.

Tailored oils can enhance or replace petroleum-derived chemicals, and improve upon the performance of plant oils and animal fats. The Solazyme and AkzoNobel agreement is rooted in a shared commitment to sustainability and high-performance products derived from triglyceride oils.

“AkzoNobel’s leadership in specialty chemicals and sustainability makes them a natural partner for us to work with,” said Jean-Marc Rotsaert, Chief Operating Officer, Solazyme. “Akzo’s significant product sales and growth strategy in the Americas also overlaps well with our manufacturing footprint.”

Commercial supply of multi-thousand ton quantities of highly sustainable algal oil is expected to originate from the Solazyme Bunge Renewable Oils Joint Venture oil manufacturing plant in Brazil. Sales of product are anticipated to commence in 2014, with pricing to be competitive and based upon Solazyme’s cost of manufacturing.

“We think the tailored triglycerides developed by Solazyme can offer valuable new technology for our Surface Chemistry and Decorative Paints businesses, and we are excited about our partnership with such an innovative, promising new business,” said Graeme Armstrong, Corporate Director for Research, Development and Innovation, AkzoNobel. Added Peter Nieuwenhuizen, Director Future-proof Supply Chains, “We look forward to a multi-faceted alliance with Solazyme, including supply in the Americas region, and joint research and development to drive new functionality alongside improved sustainability.”

Product development efforts are anticipated to begin in the second half of 2013, and are focused on a number of AkzoNobel’s end market applications, specifically surfactants and paints and coatings.
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