Dow Electrical & Telecommunications Executes Development Agreement
for Bio-based Dielectric Insulating Fluids
NEW YORK--(BUSINESS WIRE)--Dow Electrical & Telecommunications (Dow E&T), a business unit of The Dow Chemical Company (NYSE:DOW), recently announced plans to develop algal oils with Solazyme, Inc. for use in bio-based Dielectric Insulating Fluids (DIFs). The estimated $2 billion DIF market represents more than 500 million gallons of opportunity for strategic partners like Dow E&T and Solazyme, Inc.
DIFs are commonly mineral-oil based and are crucial for the efficient running and maintenance of transformers and other electrical applications. With Dow’s knowledge in specialty fluid formulations and experience in the power industry, and Solazyme’s feedstock capability in renewable oils and bioproducts, the two organizations are perfectly aligned to develop and produce next-generation bio-based DIFs that are virtually fire safe, environmentally sound and provide increased performance to end users.
“Solazyme is a leading company in the industrial biotechnology space and its renewable oil technology platform provides a unique opportunity to significantly improve the next generations of chemical solutions for high-performing DIFs,” said Tim Laughlin, General Manager, Dow Electrical & Telecommunications. “In the fast-growing space of bio-based DIFs, Solazyme tailor-designed algal oils will serve as a foundation for our continued ability to innovate novel solutions that will benefit the power industry.”
Testing and scale-up trials will soon be underway and commercialization is expected in 2013.
About Dow Electrical & Telecommunications
Dow Electrical & Telecommunications, a business unit in the Performance Plastics Division of The Dow Chemical Company (NYSE:DOW), is a leading global provider of products, technology, solutions and knowledge that sets standards for reliability, longevity, efficiency, ease of installation and protection that the power and telecommunications industries can count on in the transmission, distribution and consumption of power, voice and data. Understanding that collaboration is essential to success, Dow Electrical & Telecommunications works together with cable makers, other industry suppliers, utilities, municipalities, testing institutes and other organizations around the world to help develop solutions and create mutual value that will sustain these industries for years to come. For more information, visit www.dow.com/electrical.
About The Dow Chemical Company
Dow (NYSE:DOW) combines the power of science and technology with the "Human Element" to passionately innovate what is essential to human progress. The Company connects chemistry and innovation with the principles of sustainability to help address many of the world's most challenging problems such as the need for clean water, renewable energy generation and conservation, and increasing agricultural productivity. Dow's diversified industry-leading portfolio of specialty chemical, advanced materials, agrosciences and plastics businesses delivers a broad range of technology-based products and solutions to customers in approximately 160 countries and in high growth sectors such as electronics, water, energy, coatings and agriculture. In 2010, Dow had annual sales of $53.7 billion and employed approximately 50,000 people worldwide. The Company's more than 5,000 products are manufactured at 188 sites in 35 countries across the globe. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. More information about Dow can be found at www.dow.com.
Solazyme, Inc. is a renewable oil and bioproducts company and a leader in industrial biotechnology. Founded in 2003 and headquartered in South San Francisco, Solazyme’s technology allows microbes to produce oil and biomaterials in standard fermentation facilities quickly, efficiently and at large scale. These oils and biomaterials are tailored not only for biofuel production, but also as replacements for fossil petroleum, plant oils and animal fats in a diverse range of products running from clean fuels and chemicals to cosmetics and foods. Solazyme’s oils and fuels provide compelling solutions to increasingly complex issues of fuel scarcity, energy security and environmental impact while fitting into the pre-existing multi-trillion dollar fuel infrastructure. Solazyme’s investors among others include Braemar Energy Ventures, Harris & Harris Group, Lightspeed Venture Partners, The Roda Group, VantagePoint Venture Partners, and Zygote Ventures. For more information, please visit our website: http://www.solazyme.com.
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