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
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...
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...
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...
“Proterro has reached its Q1 sugar-production pilot milestones,” CEO Kef Kasdin reported at the recent Advanced Biofuels Leadership Conference, in Washington, D.C. “In fo...
A team of six University of Calgary researchers has been awarded funding for their project, Cost Effective Biotechnology for Carbon Capture and Re-Use, based on the conce...
Although the use of whole microalgae in animal diets has long been studied, the 
de-fatted biomass of microalgal species, derived from biofuel production research, has on...
Kazuaki Nagata reports from Japan that while the Fukushima nuclear disaster has prompted vigorous discussion about alternative energy in Japan, there is a lack of a paral...
The Guardian reports that Prince Edward Island (P.E.I.), Canada-based Solarvest has created an inventive system utilizing a specific algal strain to grow and produce EPA ...
Algae Industry Magazine is pleased to announce a new Algae 101 series by our popular blogger, Mark Edwards, Professor, Arizona State University. The Algae Solutions to Na...
Steven Mufson reports for the Washington Post that Algenol Biofuels estimates hackers have attempted to break into its computers 39 million times in four months this year...
Perth, Western Australia-based Algae.Tec Limited has announced that the Reliance Group has converted the first tranche of options following the positive progress achieved...
Following a request from the European Commission, the European Food Safety Authority (EFSA) Panel on Dietetic Products, Nutrition and Allergies (NDA) was recently asked t...
Bookending the upcoming Algae Biomass Summit, Sept. 29-Oct.2 in San Diego, will be industry tours to give attendees a first-hand look at the latest progress in technical ...
The EPA has released the Annual Use of Pesticides in the U.S. Report. We now know that American farmers apply roughly a billion pounds of toxic chemicals intentionally in...
Expanding from its initial work in algal biofuels, General Atomic’s (GA’s) Advanced Biological Processes team has focused on the rising need for food globally, specifical...
Portuguese cement facility, Secil, and microalgae biotechnology company, A4F, also based in Portugal, have formed AlgaFarm, a joint venture to develop the use of cement f...
With their new CO₂ processing-platform called AstaCos, AlgaeBiotech can produce waxy particles of only 50-100 µm in size with a loading of 25% astaxanthin oleoresin. The ...