Solazyme and Bunge renewable oils jv secures $120-million in financing

Renewable oils firm Solazyme and agribusiness giant Bunge say their tailored oils joint venture has received approval from the Brazilian Development Bank (BNDES) for R245,699,000 ($120 million) in project funding to support its first commercial-scale production facility in Brazil.  The 100,000-m.t./year facility is currently under construction adjacent to Bunge's Moema, São Paulo sugarcane mill. It is expected to come online in the fourth quarter. Late last year Solazyme and Bunge announced that they had agreed to build another 200,000-m.t. of...

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