[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
Phys.org reports that, in collaboration with the Berlin, Germany LED manufacturer FutureLED, scientists at the Technische Universität München have developed a unique comb...
Cyanobacteria, also known as blue-green algae because of their color, have endured for more than 2.5 billion years, providing ample time to adapt to changes in the Earth'...
Allan Koay writes in thestar.com about a Universiti Malaya research project paving the way for the commercial production of paper pulp and bioethanol from seaweed. The Al...
Green Star Products, Inc. (GSPI) has signed a contract to build a demonstration facility in Las Vegas, Nevada, to produce commercial quality algae. The Hybrid Algae Produ...
In an age where customer input is as easy as a click, OriginOil has tapped directly into its intended market to R&D their next generation algae harvester -- with a de...
In a recent study, published in PLOS ONE Journal, the influence of light intensity on the growth and lipid productivity of Nannochloropsis salina was investigated in a fl...
James Goodman writes in the democratandchronicle.com about Jeffrey Lodge, an associate professor of biological sciences at Rochester Institute of Technology, who knows wh...
Cellana, Inc., with operations in San Diego and Kailua-Kona, Hawaii, has announced that David Anton, Ph.D., has been appointed Chief Operating Officer and elected to the ...
As one of the most water-poor countries in the world, Jordan’s current water resources are significantly below the global water scarcity line. Annual rainfall falls under...
Sami Zaatari writes for the Middle East’s Gulf News that Abu Dhabi’s coastal sabkhas – the Arabic phonetic translation for salt flats – hold great potential for solar pow...
Five years ago, on April 20, 2010, an explosion on the Deepwater Horizon rig caused a release of 200 million gallons of oil into the Gulf of Mexico before the well was ca...
Scientists from the J. Craig Venter Institute (JCVI), a not-for-profit genomic research organization in La Jolla, California, have published a paper outlining new synthet...
Algae “red tide” events often create dazzling nighttime light shows of blue-green bioluminescence resulting from the force generated by breaking waves. While many mysteri...
Scientific representatives from the EnAlgae consortium are announcing preliminary results this week from a key algal carbon capture project in the works at Britain’s larg...
The vision of developing a community college degree program to train a high technology algae workforce was launched at New Mexico's Santa Fe Community College (SFCC) in 2...