[ad#The Buzz Sponsor Ad]

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
Phys.org reports that, in collaboration with the Berlin, Germany LED manufacturer FutureLED, scientists at the Technische Universität München have developed a unique comb...
West Chester, Pennsylvania-based International Sustainability Group, Inc., an innovative green technology and sustainable manufacturing company, has entered the algae mar...
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...
Developing renewable fuel from wet algae is one of the latest innovations Richland, Washington-based Pacific Northwest National Laboratory (PNNL) has successfully driven ...
Nutritionaloutlook.com this month gives a well-rounded survey of how algae’s uses in food, beverage, and supplements keep expanding. Here is an excerpt: Thanks to the 201...
James Goodman writes in the democratandchronicle.com about Jeffrey Lodge, an associate professor of biological sciences at Rochester Institute of Technology, who knows wh...
As of March 1, 2015, bbi-biotech GmbH, of Berlin, Germany, has begun integrating IGV Biotech GmbH’s photobioreactors into its own life science product portfolio. A former...
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 ...
Montague, Prince Edward Island-based Solarvest has announced that it has used its algal-based production platform to express bioactive therapeutic proteins. The proof of ...
None of us would be alive if sperm cells didn’t know how to swim, or if the cilia in our lungs couldn’t prevent fluid buildup. But we know very little about the dynamics ...
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...
Simris Alg, a pioneering agribusiness producing omega-3 from farmed algae, has been declared one of Sweden’s 33 hottest companies in new technology. The renowned list is ...
UC San Diego’s efforts to produce innovative and sustainable solutions to the world’s environmental problems have resulted in a partnership with the region’s surfing indu...
Algae.Tec has announced a collaboration agreement for the commercialization of its algae production technology with Larimar Energy SRL, of the Dominican Republic. The ene...