Solazyme, Inc. (NASDAQ:SZYM), a renewable oil and bioproducts company, announced today that the USS Ford, a U.S. Navy Frigate fleet ship, successfully journeyed from its homeport in Everett, WA to San Diego, CA using Soladiesel HRD-76®, Solazyme’s 100% algal derived renewable marine diesel fuel. The voyage was fueled using 25,000 gallons of a 50/50 blend using Soladiesel® and petroleum F-76 in the ship’s LM 2500 diesel turbines, and marks the first demonstration of the alternative fuel blend in an operational fleet ship.
Meeting the secretary of the Navy's call for a drop-in fuel replacement, no changes were required to the infrastructure of the ship or fueling pier for the test. Feedback from the ship’s engineers was favorable; the crew reported that operational performance of the fuel system and gas turbine engines on the 50/50 blend was similar comparable to operations on traditional petroleum F-76.
“The U.S. Navy continues to demonstrate the effectiveness of our fuel in multiple vessels, and we are honored to have the opportunity to assist with efforts to reduce their dependence on fossil fuels,” said Rogerio Manso, Chief Commercialization Officer, Solazyme. “We view these successful tests as an important step towards the commercialization of our renewable fuels.”
Solazyme has successfully completed the delivery of over 500,000 liters of in-specification fuel to the U.S. Navy including the largest deliveries of microbially-derived advanced biofuels in history. In December 2011, Dynamic Fuels, LLC, a joint venture between Tyson Foods, Inc. (NYSE: TSN) and Syntroleum Corporation (NASDAQ: SYNM), announced it had been awarded a contract to supply the U.S. Navy with 450,000 gallons (1.7 million liters) of renewable fuels. Solazyme is partnered with Dynamic Fuels to fulfill the contract, and delivery to the U.S. Navy is scheduled for May 2012, marking the single largest purchase of advanced biofuel in government history.
Solazyme’s renewable diesel and jet fuels meet all of the EU, ASTM and draft military specifications for diesel, marine diesel and jet biofuels.
About Solazyme, Inc.
Solazyme, Inc. (NASDAQ: SZYM) is a renewable oil and bioproducts company that transforms a range of low-cost plant-based sugars into high-value oils. Headquartered in South San Francisco, Solazyme’s renewable products can replace or enhance oils derived from the world’s three existing sources – petroleum, plants and animal fats. Initially, Solazyme is focused on commercializing its products into three target markets: (1) fuels and chemicals, (2) nutrition and (3) skin and personal care.
Solazyme®, the Solazyme logo and other trademarks or service names are trademarks of Solazyme, Inc.
Forward Looking Statements
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about Solazyme, including statements that involve risks and uncertainties concerning: the commercialization of its renewable fuels and the scheduled delivery date of fuel to the U.S. Navy. When used in this press release, the words "will", "expects", "intends", “scheduled” and other similar expressions and any other statements that are not historical facts are intended to identify those assertions as forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any such statement may be influenced by a variety of factors, many of which are beyond the control of Solazyme, that could cause actual outcomes and results to be materially different from those projected, described, expressed or implied in this press release due to a number of risks and uncertainties. Potential risks and uncertainties include, among others: Solazyme's limited history in commercializing products; implementation risk in deploying new technologies; and Solazyme’s ability to maintain strategic collaborations. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of Solazyme.
In addition, please refer to the documents that Solazyme, Inc. files with the Securities and Exchange Commission, including its Quarterly Report on Form 10-Q for the quarter ended September 30, 2011 for a discussion of these and other risks. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release. Solazyme is not under any duty to update any of the information in this press release.