Solazyme and Unilever Sign Commercial Development Agreement for Renewable Oils

Expanded Two-Year Joint Development Agreement includes offtake terms for targeted oils for use in soap, personal care and nutritional products

SOUTH SAN FRANCISCO, Calif.--()--Solazyme, Inc. (NASDAQ: SZYM), a renewable oil and bioproducts company, 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.

“Our technology platform presents a unique opportunity for Unilever to develop innovative, new products with enhanced consumer benefits while advancing their Sustainable Living Plan. Unilever has consistently led the consumer goods industry towards greater sustainability and our technology, coupled with Unilever’s scale and reach creates a compelling opportunity to improve product quality while facilitating sustainable living.”

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 innovation efforts on the production of tailored oils for use in soap and personal care product applications, while committing additional efforts to developing new tailored oils for use in other applications.

Since 2009, the two companies have been collaborating on the research and development of tailored oils utilizing Solazyme’s technology platform and Unilever’s broad knowledge in the consumer goods space.

About Solazyme, Inc.

Solazyme, Inc. is a renewable oil and bioproducts company that transforms a range of low-cost plant-based sugars into high-value tailored 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'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. For more information, please visit the company's website: http://www.solazyme.com.

Solazyme®, the Solazyme logo and other trademarks or service names are the trademarks of Solazyme, Inc.

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 successful completion of the commercial development agreement and related activities, Solazyme’s future commercialization and supply arrangements and Solazyme’s development plans. When used in this press release, the words "will", " "would" 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 ability to develop and commercialize products on a cost-effective and timely basis and its ability to maintain and successfully manage existing 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 Reports on Form 10-Q, 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.

About Unilever

Unilever works to create a better future every day. We help people feel good, look good and get more out of life with brands and services that are good for them and good for others.

Unilever is one of the world’s leading suppliers of fast moving consumer goods with strong operations in more than 100 countries and sales in 180. Consumers buy 170bn Unilever packs around the world every year, and our products are used over two billion times a day.

Our portfolio includes some of the world’s best known and most loved brands including twelve €1 billion brands, and global leadership in many categories in which we operate. The portfolio features iconic brands such as: Knorr, Hellmann’s, Lipton, Dove, Vaseline, Persil, Cif, Marmite and Pot Noodle.

We have around 167,000 employees in over 100 countries, and generated annual sales of €44.3 billion in 2010. For more information about Unilever and its brands, please visit www.unilever.com

Unilever is Food Industry Leader in the Dow Jones Sustainability World Indexes for the 13th year running. We are included in the FTSE4Good Index Series and attained a top environmental score of 5, leading to inclusion in the FTSE4Good Environmental Leaders Europe 40 Index. We are also ranked 7th in the Global 100 Most Sustainable Corporations in the World, a list compiled by Corporate Knights Magazine. We achieved Platinum Plus standard in the UK’s Business in the Community Corporate Responsibility Index 2009, and were named Company of the Year in 2010.

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Contacts

Solazyme, Inc.
Genet Garamendi
VP of Communications
Press@solazyme.com
or
The OutCast Agency
Jessica Williams, 415-392-8282
solazyme@theoutcastagency.com
or
Investor Relations:
BlueShirt Group
Chris Danne
chris@blueshirtgroup.com

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Contacts

Solazyme, Inc.
Genet Garamendi
VP of Communications
Press@solazyme.com
or
The OutCast Agency
Jessica Williams, 415-392-8282
solazyme@theoutcastagency.com
or
Investor Relations:
BlueShirt Group
Chris Danne
chris@blueshirtgroup.com