Solazyme, Bunge Sign Preliminary Agreements for JV

Algae oils firm Solazyme (San Francisco) says it has signed a framework agreement with Bunge to form a triglycerides production joint venture in Brazil. The agreement, subject to a final agreement, includes a 100,000 m.t./year renewable oil plant to be located at a Bunge sugar cane mill. The plant would come online during the 2013 sugar cane harvest. Solazyme uses microalgae to convert biomass directly into oil and other biomaterials for biofuel production and replacements of fossil petroleum and plant oils in products such as oleochemicals, cosmetics, and foods...

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