[ad#The Buzz Sponsor Ad]

Solazyme Reports 82% Revenue Growth in Q2

August 8, 2012, by Syed Isa
AlgaeIndustryMagazine.com

South San Francisco, CA-based Solazyme, Inc. has announced financial results for the second quarter ended June 30, 2012, and recent key corporate highlights. Total revenue for the second quarter ended June 30, 2012 was $13.5 million compared with $7.4 million in the second quarter of 2011.

“During the quarter, we broke ground on our first 100,000 MT facility in Brazil and successfully commissioned our integrated biorefinery in Peoria, both on schedule,” said Jonathan Wolfson, CEO of Solazyme.

Second quarter GAAP net loss attributable to Solazyme, Inc. common stockholders was $19.2 million, which compares with net loss attributable to common stockholders of $17.0 million in the prior year period. On a non-GAAP basis, the net loss attributable to Solazyme, Inc. common stockholders was $16.3 million for the second quarter of 2012, compared with net loss attributable to common stockholders of $10.0 million in the prior year quarter.

“We have a strong balance sheet and all of our current projects are fully funded,” said Tyler Painter, CFO of Solazyme. “Solazyme has been built on carefully managing every dollar we spend building our business and we will continue to focus on prudently deploying our capital to maximize future returns. Most importantly, we continue to create long-term stockholder value by executing on our commercialization plan and investing in our technology platform.”

“Our team remains focused on building out our renewable oil production capacity, working with industry leading partners to commercialize our tailored triglyceride oils, and continuing to demonstrate how our technology platform opens new market opportunities for our customers,” added Wolfson.

More Buzz…

HOME Algae Industry Jobs

Copyright ©2010-2012 AlgaeIndustryMagazine.com. All rights reserved. Permission granted to reprint this article in its entirety. Must include copyright statement and live hyperlinks. Contact editorial@algaeindustrymagazine.com. A.I.M. accepts unsolicited manuscripts for consideration, and takes no responsibility for the validity of claims made in submitted editorial.

From The A.I.M. Archives

— Refresh Page for More Choices
If we built a Green Friendship Bridge composed of 8,600 algae microfarms given to Mexican and Central American farmers in lieu of 1%, (13 miles) of additional border wall...
Judy Siegel-Itzkovich writes in the Jerusalem Post that Dr. Iftach Yacoby and his research team at Tel Aviv University, in Israel, have genetically altered microalgae to ...
Cheryl Katz writes in National Geographic that Iceland’s last living lake balls are disappearing. The fluffy green supersize diatoms as large as a head of cabbage are one...
Dr. Tom Dempster works as a research professor – focusing on strain selection and development, biomass production, algal biofuels and high-value products, and air and was...
Since hydrogen fuel cells produce electricity, we are increasingly thinking about hydrogen as a successor to crude oil. But where will the hydrogen come from? Its ecologi...
Portuguese microalgae producer, Allmicroalgae Natural Products S.A., has moved to the next stage in development of new production technologies to grow Nannochloropsis oce...
Fraunhofer-Gesellschaft reports in Science Daily that two algae species survived 16 months on the exterior of the International Space Station (ISS) despite extreme temper...
The genome of the fuel-producing green microalga Botryococcus braunii has been sequenced by a team of researchers led by a group at Texas A&M AgriLife Research. The r...
Marlene Cimons, nexusmedianews.com reports that researchers at the University of California San Diego and Sapphire Energy have successfully grown a genetically engineered...
Monica Jain of Fish 2.0 writes in National Geographic about how the algae brand is about to undergo an image makeover, and may soon seem flat-out glamorous — once again. ...
A Bay Area company has patented a group of three single-celled, algae-like organisms that, when grown together, can produce high quantities of sugar just right for making...
The Department of Energy has just announced $22 million in funding through the Advanced Research Projects Agency-Energy (ARPA-E) for 18 innovative projects as part of the...