Visit  cricatalyst.com!Nexus — Leaders in Greenhouse Systems Integration Check out more of The Buzz

Solazyme Reports First Quarter 2013 Results

May 9, 2013
AlgaeIndustryMagazine.com

solazymelogoSolazyme, Inc. has announced results for the first quarter ended March 31, 2013. Total revenue for the first quarter ended March 31, 2013 was $6.7 million compared with $13.6 million in the first quarter of 2012. Revenues in the first quarter of 2012 included $5.5 million in government-funded revenues, which as expected did not recur during the first quarter of 2013.

First quarter GAAP net loss attributable to Solazyme, Inc. common stockholders was $26.5 million, which compares with net loss of $16.8 million in the prior year period. On a non-GAAP basis, the net loss was $21.5 million for the first quarter of 2013, compared with net loss of $12.8 million in the prior year quarter.

“We are off to an excellent start in 2013 executing on our three primary focus areas: completing capacity projects on schedule; developing our portfolio of tailored oils; and bringing our tailored oils to market,” said Jonathan Wolfson, CEO of Solazyme. “In addition to the newly announced agreement with AkzoNobel, the first quarter included several important milestones such as our Mitsui partnership, our technology breakthrough that allows us to develop new structuring oils, and key financing achievements that support a clear path to commercialization. We remain on target to be in commercial production in multiple facilities by early 2014 and are excited about the opportunities ahead.”

“We strengthened our financial position with over $250 million in new capital through a number of strategic initiatives including a successful convertible offering, a strategic project financing from the Brazilian Development Bank and a new credit facility with one of our commercial banking partners,” said Tyler Painter, CFO of Solazyme. “Our enhanced capital structure and operating flexibility position us well as we pursue a number of exciting opportunities for Solazyme.”

More Buzz…

HOME Algae Industry Jobs

Copyright ©2010-2013 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
AIMPLAS, a Center for Innovation and Technology in Valencia, Spain, and Biofuel Systems, a wholly Spanish-owned firm that has developed a method of breeding plankton and ...
In the 1970s, following the regrouping of small farms into large production centers, the Soviet Union was experiencing serious problems with epidemics of cancer and low p...
Peter Berlin reports for France24.com that French adventurer Raphaël Dinelli plans to fly across the Atlantic in 2015 in a plane powered only by algae and sunshine. Dinel...
Natural Algae Astaxanthin manufacturers Fuji Chemical Industry Co Ltd., Algatechnologies Ltd. and Cyanotech Corporation have announced that they will form the “Natural Al...
OriginOil Inc. has announced a collaboration with Israel’s AquaGreen Fish Farms, Ltd. to further streamline their zero-discharge aquaculture systems for the production of...
Solazyme has announced that commercial operations have begun at both Archer Daniels Midland Company (ADM)’s Clinton, Iowa facility, and the downstream companion facility ...
Natural carotenoid specialists Piveg Inc., with production facilities based in Celaya, Central Mexico, has announced immediate availability of natural astaxanthin materia...
University of Adelaide researchers are using nanotechnology and the fossils of diatoms to develop a novel chemical-free and resistance-free way of protecting stored grain...
Scientists at the Energy Department’s National Renewable Energy Laboratory (NREL) have demonstrated that just two of six iron-sulfur-containing ferredoxins in a represent...
The University of Greenwich is leading a €10m international project, called the ‘D-Factory,’ to build a biorefinery to develop the microalga Dunaliella as a sustainable r...
Biomass abounds on Earth, as forests, fields, sewage and seaweed. But only a small fraction, mostly human or agricultural waste, can be harvested without posing environme...
Algae.Tec Ltd has received its first purchase order from Reliance Industrial Investments and Holdings Limited (RIIHL), in connection with the arrangements announced on Ja...
In a global scenario where increasing attention is being directed towards issues of sustainability and limited food supplies, algal sources offer immense scope for the ra...
Solazyme, Inc. has announced results for the fourth quarter and full year ended December 31, 2013. “2013 was a year of great progress for Solazyme as we readied our first...
Valensa International and Contract Biotics have announced that Contract Biotics has started construction of an additional six acres of algae production units at the compa...
Technical standards define critical terms and metrics to add wisdom for the algae industry. Agreement among science and business leaders represents possibly the most diff...
Algatechnologies (“Algatech”), Israel, has announced a more than 100% expansion of its production capacity of AstaPure® brand natural astaxanthin. This doubling of capaci...
Algae is being discussed at the heart of EXPO Milano 2015, the international event that has existed since 1851, spawning world shaping themes and icons, such as the Eiffe...
Libourne, France-based Fermentalg, an industrial biotechnology company that specializes in the production of oils and proteins derived from microalgae, has completed a su...
As the number of photobioreactors in an algae growing operation increases, there is a need for both autonomous control and monitoring of individual PBRs, as well as centr...
Students from three Arizona universities will demonstrate their algae research projects at an Innovation Showcase May 1, in Arizona State University’s Sun Devil Fitness C...