Solazyme and Unilever Update Agreement for Renewable OilsSolazyme and Unilever Update Agreement for Renewable Oils
October 17, 2011
olazyme has announced the continuation and expansion of its relationship with Unilever, one of the world’s leading consumer goods companies. The Commercial Development Agreement, which is funded by Unilever, expands the companies’ current research and development efforts and is the fourth agreement the parties have entered into. Upon successful completion of the development agreement and related activities, the two companies have agreed the terms of a multi-year supply agreement in which Unilever would purchase commercial quantities of Solazyme’s renewable oils.
“Unilever’s commitment to help develop products formulated with Solazyme renewable oils represents a milestone in the market validation of our tailored oil technology,” said Jonathan Wolfson, CEO, Solazyme.
Neal Matheson, Unilever’s Chief Technology Officer said, “Unilever has an ambition to double its business and halve its environmental impact. To realize this ambition, under what we call our Sustainable Living Plan, we are committed to sourcing 100% of our agricultural raw materials sustainably by 2020.
“The relationship with Solazyme, which has been developed over several years, will help us honor this commitment, as their technology platform provides a unique opportunity to integrate sustainable raw materials into our production lines while positively impacting our environmental efforts and bringing better products to our consumers.”
Initially, the two parties will continue focusing efforts on the production of tailored oils for use in soap and personal care product applications, while developing other applications.Going to the ABS? Drop by the A.I.M. Booth 306