Solazyme and Unilever Sign Expanded Renewable Oils Agreement

Upon successful completion of the development agreement and related activities, the two companies have agreed the terms of a multi-year supply agreement in which Unilever would purchase commercial quantities of Solazyme's renewable oils.

Oct 18 2011 --- Solazyme, Inc, a renewable oil and bioproducts company, announced the continuation and expansion of its relationship with Unilever, one of the world's leading consumer goods companies. The Commercial Development Agreement, which is funded by Unilever, expands the companies' current research and development efforts and is the fourth agreement the parties have entered into. Upon successful completion of the development agreement and related activities, the two companies have agreed the terms of a multi-year supply agreement in which Unilever would purchase commercial quantities of Solazyme's renewable oils.

"Unilever's commitment to help develop products formulated with Solazyme renewable oils represents a milestone in the market validation of our tailored oil technology," said Jonathan Wolfson, CEO, Solazyme.

"Our technology platform presents a unique opportunity for Unilever to develop innovative, new products with enhanced consumer benefits while advancing their Sustainable Living Plan. Unilever has consistently led the consumer goods industry towards greater sustainability and our technology, coupled with Unilever's scale and reach creates a compelling opportunity to improve product quality while facilitating sustainable living."

Neal Matheson, Unilever's Chief Technology Officer said, "Unilever has an ambition to double its business and halve its environmental impact. To realize this ambition, under what we call our Sustainable Living Plan, we are committed to sourcing 100% of our agricultural raw materials sustainably by 2020.

"The relationship with Solazyme, which has been developed over several years, will help us honor this commitment, as their technology platform provides a unique opportunity to integrate sustainable raw materials into our production lines while positively impacting our environmental efforts and bringing better products to our consumers."

Initially, the two parties will continue focusing innovation efforts on the production of tailored oils for use in soap and personal care product applications, while committing additional efforts to developing new tailored oils for use in other applications.

Since 2009, the two companies have been collaborating on the research and development of tailored oils utilizing Solazyme's technology platform and Unilever's broad knowledge in the consumer goods space.

Solazyme, Inc. is a renewable oil and bioproducts company that transforms a range of low-cost plant-based sugars into high-value tailored oils. Headquartered in South San Francisco, Solazyme's renewable products can replace or enhance oils derived from the world's three existing sources -- petroleum, plants and animal fats. Initially, Solazyme is focused on commercializing its products into three target markets: (1) fuels and chemicals, (2) nutrition and (3) skin and personal care. Solazyme's oils and fuels provide compelling solutions to increasingly complex issues of fuel scarcity, energy security and environmental impact while fitting into the pre-existing multi-trillion dollar fuel infrastructure.