[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
Scientists at Dartmouth College, in Hanover, New Hampshire, have discovered that marine microalgae can completely replace the wild fish oil currently used to feed tilapia...
Benedict O’Donnell writes in the EU Research and Innovation magazine, Horizon, about research being developed on seaweed as a biological, environmentally friendly, sustai...
Tafline Laylin writes for Inhabitat.com about the elegant solution that Romanian designer Alexandru Predonu has conceived that uses solar energy to power a rotating desal...
Karen Phillips writes for deeperblue.com that algae are the alveoli in the ocean lungs of our planet, vitally important to the health of the seas as home, food source, sa...
For plants and algae that carry on photosynthesis, light can be too much of a good thing. On a bright, sunny day, a plant might only be able to utilize 20 percent or less...
Jason Smith reports for undercurrentnews that Kentucky-based Alltech is willing to invest in overseas algae production plants closer to its feed customers if demand for i...
Haley Gray reports for 5280.com that Upslope Brewing Company, in Boulder, Colorado, is one step closer to its goal of becoming a zero-waste brewery. The craft beer maker ...
Algae Health Sciences, Inc., a subsidiary of BGG, has announced that it has submitted a New Dietary Ingredient (NDI) to the US FDA for its flagship product AstaZine® Natu...
Kailua-Kona, Hawaii-based Cellana, Inc., a leading developer of algae-based products for sustainable nutrition and energy applications, and Living Ink Technologies of Den...
For algal biofuels to compete with petroleum, farming algae has to become less expensive. Toward that goal, Sandia National Laboratories is testing strains of algae for r...
ExxonMobil and Synthetic Genomics Inc. have announced that, in joint research into advanced biofuels, they have modified an algal strain to more than double its oil conte...
David Erickson writes in the (Montana) Missoulian that Clearas Water Recovery, a Missoula tech company formed eight years ago, has developed a patented process to use alg...