By Greentech Lead
America: Solazyme, a renewable oil and bio products company, has
executed a contingent off-take agreement with Dow chemicals. Through this
agreement, Dow will purchase all of its requirements of non-vegetable
microbe-based oils for use in dielectric fluid applications from Solazyme
through 2015.
Consumption of Solazyme’s algal oil feedstocks is expected
to exceed the minimum estimated volumes of 8.5 million gallons (29,000 metric
tons) starting in the second half of 2013 and through 2015.
Solazyme’s new, renewable and biodegradable bio-based
dielectric insulating fluids provide higher flash points and additional
functionality that may improve the operating efficiency and extend the useful
life of transformers.
“Solazyme’s unique biotechnology-based oils platform
has created a new market opportunity to develop and produce the next-generation
of safe, renewable, dielectric insulating fluids that provide increased
performance benefits. We have continued to reach technological advancements
ahead of schedule with Dow, enabling us to further progress our commercial
relationship,” said Jonathan Wolfson, CEO, Solazyme.
Concurrently, Solazyme and Dow have entered into a Phase 2
Joint Development Agreement (JDA2), an exclusive, multi-year extension of the
current joint-development agreement including accelerated commercialization
timelines based on Solazyme’s rapid progress in the production of tailored
algal oils. JDA2 enables additional application development work to be
conducted by Dow, due to Solazyme’s accelerated ability to scale up their
uniquely tailored algal oil feedstocks.
“In the fast-growing space of bio-based dielectric
insulating fluids, Solazyme’s tailored algal oils will serve as a technology
platform for our continued efforts to bring innovative solutions to the power
industry. Based on the application work we have already completed to date, we
are confident we are positioned to commercialize these oils in timelines
consistent with Solazyme’s planned ability to manufacture the quantities we
need,” said Tim Laughlin, general manager, Dow Electrical & Telecommunications.
DOW launches POWERHOUSE Solar Shingle in Northern California
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