Solazyme, Inc.(NASDAQ: SZYM), a renewable oil and bioproducts company, today announced its entry into the textile lubricants market through a commercial supply agreement with Goulston Technologies Inc., a leading global producer of high-performance fiber lubricants. Goulston expects to commercialize a new class of sustainable products using Solazyme’s renewable high-performance, Tailored™ algal oils for textile lubricants. Solazyme expects to supply Goulston’s high oleic oil needs under the agreement.
“Our business continues to grow globally – driven by innovation. Solazyme’s unique renewable Tailored™ oil technology provides us with new options to develop our next generation of high performance products,” said Srinivasan Ranganathan, Goulston Chief Technology Officer. “In addition, our goal is to provide the industry with the highest performance lubricants with the lowest environmental impact. We are committed to using sustainable raw materials wherever possible and we are excited to announce the immediate introduction of high-performance textile finishes based on Solazyme algal oils. We plan to further expand the use of this breakthrough technology into additional products and markets starting in 2014.”
“Solazyme’s renewable Tailored™algal oils are able to provide outstandingperformance and a more sustainable solution with better lubrication,surface tensionand viscosity index, plus enhanced stability at elevated temperature, pressure and/or speed, making them ideal for technical applications like textile finishes and for the general lubricants market,” said Rob Evans, Vice President, Sales, Solazyme. “We have executed an agreement to supply Goulston’s high oleic oil needs using our best-in-class algal derived high oleic oil and we look forward to further partnering with Goulston Technologies to develop and commercialize an expanded portfolio of products in the future.”
As a result of continuing growth in global fiber production, industry estimates now put the fiber lubricant market at more than 1 billion pounds annually.
About Solazyme, Inc.
Solazyme, Inc. (SZYM) is a renewable oil and bioproducts company that transforms a range of low-cost plant-based sugars into high-value 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®, Tailored™, the Solazyme logo and other trademarks or service names are trademarks of Solazyme, Inc.