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$SZYM - Microalgae Innovator Solazyme and Global Starch Producer Roquette Agree to Dissolve Joint Venture

http://finance.yahoo.com/news/microalgae-innovator-solazyme-global-starch-105800222.html

SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--

Solazyme, Inc. (SZYM) announced today that it has agreed with Roquette Frères, S.A. to dissolve their joint venture, Solazyme Roquette Nutritionals, LLC, in accordance with their Joint Venture and Operating Agreement dated November 3, 2010, by and between Roquette and Solazyme. The parties expect the formal dissolution to occur in the coming weeks.

The decision to terminate the joint venture was driven by divergent views on an acceptable commercial strategy and timeline for the manufacturing and marketing of joint venture products. As a result, Solazyme intends to accelerate commercialization of its suite of innovative microalgal food ingredients.

The Joint Venture and Operating Agreement was filed by Solazyme with the Securities and Exchange Commission as Exhibit 10.10 to Amendment No. 2 to its Form S-1 Registration Statement on April 13, 2011.

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 and innovative microalgal food ingredients. 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) chemicals and fuels, (2) nutrition and (3) skin and personal care.

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