12.01.10
In order to produce, commercialize and market microalgae-derived food ingredients, Solazyme, San Francisco, CA, and Roquette Frères, Lestrem, France, have signed a joint venture agreement. Solazyme-Roquette Nutritionals plans to launch a variety of oil-, protein- and fiber-based products. The joint venture will be operational by the beginning of 2011. The management team and board of directors will be drawn from both parent companies, with Solazyme’s CEO, Jonathan Wolfson, serving as the initial CEO. Roquette will fund and build a joint venture-owned, commercial-scale manufacturing plant with capacity in the tens of thousands of tons of annual production located at a Roquette corn wet mill. In addition, Roquette will provide upfront licensing payments to Solazyme and working capital to fund the joint venture until reaching profitability.
