Blogs under tag Chairman Of Roquette
Sanfrancisco Solazyme and Lestrem, France, Roquette tie up ! Posted by Shankar on Thu November 11 2010 05:14:23 AM 3
Solazyme has been in news for its sale of algae oil to the US Navy and its order that it got from Department of Defence. Not just that. They went thru another round of funding while all the early investors NOT exiting. They tied up with a Japanese food giant and with Unilevers.
Now comes the announcement of Solazyme's JV with Roquette Nutritional.
I dont know when algae to oil is going to happen at affordable prices. But it looks like algae tonutrition additives, cosmetic additives are all going to happen soon, for sure.
Solazyme, Inc. the Californiabasedleader in renewable oil and bioproducts and Roquette Fr?res, the global starch and starchderivativescompany headquartered in France, today announced that they have signed a joint venture (JV)agreement for the production, commercialization and market development of microalgae-derived foodingredients, subject to regulatory approvals and notifications.
The JV is being formed to launch an entirely new category of natural, healthy and functional ingredientsbased on microalgae that provide superior nutritional properties along with outstanding taste and texture.
Solazyme-Roquette Nutritionals plans to launch a variety of oil, protein and fiber based products aimed atdelivering improved performance with a vastly superior health profile compared to ingredients in themarket today.
The JV, which will be 50% owned by each parent company, will be named
Solazyme-Roquette Nutritionals, and will be operational by the beginning of 2011. The JV?s management team and board ofdirectors will be drawn from both parent companies with Solazyme?s CEO, Jonathan Wolfson serving asthe initial CEO of the JV.
Roquette will fund and build a JV-owned, commercial-scale manufacturingplant with capacity in the tens of thousands of tons of annual production, sited at a Roquette corn wetmill. In addition, Roquette will provide upfront licensing payments to Solazyme and working capital tofund the JV until reaching profitability.
This JV combines Roquette?s history and capabilities as a global food ingredient supplier withSolazyme?s highly innovative microalgae-based technology.
Like Solazyme, Roquette has been activelydeveloping a microalgal nutritional platform and runs the ALGOHUB? program while currently sellingalgae-based nutritional products.
Roquette also possesses strong global manufacturing assets, and accessto carbohydrate feedstock in multiple geographies through its network of highly efficient mills.
Inaddition, the JV will leverage Roquette?s large, global nutritional sales force to stimulate rapid marketentry and provide access to major food companies worldwide.
The merger of Roquette?s extensiveresources with Solazyme?s revolutionary microalgae-derived food ingredient technology, which includesheart-healthy algal flours and oils, will provide solutions that improve both product functionality andnutritional profile in large market food ingredient applications.
'Roquette is a family-owned company with outstanding values which create the basis for a long-termrelationship with Solazyme. Beyond that, Roquette provides a total package including feedstock,manufacturing and applications expertise, and robust sales, marketing and customer relationships,' saysJonathan Wolfson, CEO and co-founder of Solazyme.
'Combined with Solazyme?s technology, the jointventure is extremely well-equipped to commercialize revolutionary natural products into the food industrythat provide all of the performance benefits consumers have come to expect, while providing theimproved nutritional profiles they deserve.'
'Solazyme and Roquette share a very clearly-defined vision that microalgae will provide a major newclass of food ingredients and we enter this JV very enthusiastic about the future? says Guy Talbourdet,CEO of Roquette. Marc Roquette, Chairman of Roquette continued, 'We believe that along withRoquette, Solazyme possesses the most innovative microalgal food ingredient technology in the world,and we look forward to using our extensive skills and assets to help bring this technology to market.'# # #
Solazyme, Inc. is a renewable oil and bioproducts company and the leader in algal biotechnology.Founded in 2003 and headquartered in South San Francisco, Solazyme?s unique technology producesrenewable oils and biomaterials in standard fermentation facilities quickly, efficiently and at large scale.These oils and biomaterials provide replacements for fossil petroleum and plant oils in a diverse range ofproducts running from clean fuels and chemicals to cosmetics and foods.
Solazyme?s oils providecompelling solutions to increasingly complex issues of fuel and food scarcity, energy security andenvironmental impact while fitting cleanly into the pre-existing multi-trillion dollar production,distribution and consumption infrastructure. Solazyme?s investors among others include Morgan Stanley,Braemar Energy Ventures, Harris & Harris Group, Lightspeed Venture Partners, The Roda Group, andVantagePoint Venture Partners. For more information, please visit our website:http://www.solazyme.com
About Roquette Fr?res:
Founded in 1933 in Lestrem (Nord Pas de Calais ? France), the ROQUETTE Group is one of the world?sleading starch producers. As a bio-refiner, it converts renewable natural resources (such as wheat, corn,potatoes and peas) into a range of ingredients for the food processing, chemicals and pharmaceuticalsindustries. Reliability, expertise, innovation, anticipating needs and supporting its customers lie at theheart of ROQUETTE?s products and services.
Keen to build on its leadership position while continuing toinnovate and diversify, this family-run business has made nutrition one of its key areas of development,expressed in tangible terms through an ambitious, dedicated research program, NUTRAHUB?. The aimof this program is to generate value from functional ingredients derived from plant raw materials, inparticular microalgae.
These last offer high potential in Nutrition and Health, and ROQUETTE Groupruns a dedicated Research Program ALGOHUB?, with partners, launched 2 years ago, to develop newingredients solutions. ROQUETTE has the objective to develop microalgae and extracts as high valueaddedingredients. By the creation of this JV, ROQUETTE Group confirms its will to be a major actor inthe microalgae industry, worldwide. For more information, please visit our website:http://www.roquette.com
For More Information Contact:Lia LoBello Genet GaramendiPeppercom Solazyme212-931-6180 [email protected] [email protected] Caillat Marie-Laure Empinet Gina