Solazyme Inc. recently released financial results for the second quarter of 2012, reporting progress in the development of its commercial production facilities. The company reported total revenue for the quarter of $11.2 million, down from $13.5 million reported for the same period of last year.<\/p>\n
According to Solazyme, the $11.2 million in revenue reported for the second quarter included $4.9 million in product sales, up 21 percent from the $4.1 million in product sales posted during the second quarter of 2012. Development revenues with commercial partners also increased, reaching $6.2 million during the quarter, versus $4.7 million for the same period of last year. However, the increases in product and development revenues with commercial partners were offset by lower government funded revenues, which the company said was in line with its expectations.<\/p>\n
According to Jonathan Wolfson, CEO of Solazyme, \u00a0progress is \u00a0being made in ADM facility located in Clinton, Iowa. Commissioning on that project is expected to begin ahead of schedule, within the next few months. He also reported that the\u00a0100,000-metric-ton production facility by the Solazyme Bunge Renewable Oils joint venture is \u00a0under development and expected to come online soon.<\/p>\n