News
Solazyme, Bunge expand JV
5 Nov 2015Microalgae company Solazyme and Bunge have announced that they have agreed to expand their joint venture to include a focus on food. The expansion includes a range of oils for food and products for animal nutrition.
Microalgae company Solazyme and Bunge have announced that they have agreed to expand their joint venture to include a focus on food. The expansion includes a range of oils for food and products for animal nutrition. The expanded joint venture will build on Solazyme’s microalgae platform, and on Bunge’s position in food and ingredients, including vegetable oils. As part of the JV expansion, the partners also entered into an agreement to expand their co-funded research programs to include new unique products in nutrition and specialty fats. Manufacturing will take place in the JV’s facility in São Paulo state, Brazil.
As part of the agreement, AlgaWise Ultra Omega-9 Algae Oil, AlgaWise High Stability Algae Oil and AlgaWise Algae Butter structuring fats will be marketed by Bunge’s food oil sales and applications team. In addition, Bunge will handle the oil processing and supply chain aspects of commercialisation. The expanded JV will manufacture and commercialise what Solazyme describes as a range of new to the world, highly differentiated products, each providing breakthrough solutions to meet major needs in the food industry: “Strengthening our relationship with Solazyme gives us a differentiated product offering in specialty food and feed ingredients,” sais Soren Schroder, CEO, Bunge. “With Solazyme, we believe we are bringing true innovation and enhanced sustainability to the global food industry. These healthier algae products have tremendous potential to make a positive impact in nutrition and functionality for our customers around the globe, and we’re excited about the potential to broadly commercialise them.” “Bunge is a leading global agribusiness and food company, and has been a strong long-term partner who shares our vision,” said Jonathan Wolfson, Solazyme’s CEO. “Not only do they have fantastic capabilities but they also understand the value of both our ingredients and our underlying technology platform. We are very happy to be deepening and expanding the partnership to include Bunge’s global food sales, marketing, and applications strength and presence. This will further enable our algae-based food ingredients to bring great benefits to people and our planet,” The announcement follows a history of collaboration between the two companies, beginning with Bunge’s 2010 equity investment in Solazyme, followed by the original Joint Venture agreement in April 2012 that established the production facility at Moema as well as multiple jointly funded development programs over that period of time.