Solazyme (NASDAQ:SZYM) transforms plant-based sugars into petroleum-based products for the chemical industry, fuels, nutrition and skin and personal care products and is scaling up manufacturing capacity in order to better serve these markets. In order to alleviate the manufacturing capacity constraint, Solazyme uses a mixed operational strategy approach including contract manufacturing, and joint ventures. The company's primary revenues are derived from producing oil via an indirect photosynthesis technology. As opposed to common open-pond and photo bio reactor approach, Solazyme uses feeds sugars to proprietary oil-producing micro-algae in a dark fermentation tank to accelerate normal production time. 
The rapidly growing demand and depleting supply for oils in today's society has created a need to look to alternatives sources of oil. As a whole, the alternative fuel industry has several advantages including the ability to scale production in order to minimize price variability. The controlled bio reactor production technology also enables company's like Solazyme to produce tailored, high-end fuels for specialized markets.
The company's initial public offering of stock on the NASDAQ occurred on May 27, 2011. The company offered 11M shares each for $18, which was at the high end of the $15-$17 price range. The offering raised a total of $198M. The lead managers of the IPO were Morgan Stanley (MS) and Goldman Sachs Group (GS).
During the full year 2010, the company reported a total revenue of $38M and incurred a net loss of $16M. This represents a 400% increase in total revenue and a 19% increase in net loss with respect to 2009.