S&P 500
7,516.60
+0.45%
Dow Jones
52,923.60
+0.01%
Nasdaq 100
29,706.80
+1.19%
Russell 2000
3,007.21
+0.49%
FTSE 100
10,654.20
-0.33%
Nikkei 225
69,824.80
+2.22%

Energy

Solazyme Scores Brazilian JV With Bunge (SZYM, BG)

Photo of Jon C. Ogg
By Jon C. Ogg Updated Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Invalid Image
Solazyme, Inc. (NASDAQ: SZYM) is surging on news this morning that the renewable oil and bioproducts outfit has formed a joint venture with a unit of Bunge Limited (NYSE: BG) to build, own and operate a commercial-scale renewable tailored oils production facility adjacent to Bunge’s Moema sugarcane mill in Brazil.

The venture will operate under the name Solazyme Bunge Produtos Renováveis Ltda. and is expected to have an annual production capacity of 100,000 metric tons of oil. The facility will utilize Solazyme’s renewable tailored oil production technology and will also utilize Bunge’s sugarcane supply and processing capabilities.  The move will allow the production of sustainable tailored triglyceride oils for use in oleochemical and fuel applications in the Brazilian domestic market.

While the exact financial terms of the agreement were not disclosed, it is being treated as a win for Solazyme with a 7.6% gain to $15.40 in the pre-market trading.  Solazyme has a market value of $863 million and this company just came public last summer.

JON C. OGG

Contact [email protected] for any questions or corrections.

Follow 24/7 Wall St. on Google
Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

Continue Reading

Paul Ausick |

Biofuels Maker Collapsing on Secondary Offering (GEVO, DD, BP, CDXS, AMRS, SZYM, KIOR, BG)

Chemical and biofuels maker Gevo Inc. (NASDAQ: GEVO) announced this morning that it “intends to offer and sell, subject to…

Solazyme Stuns Investors With Bottom Line Beat
Chris Lange |

Solazyme Stuns Investors With Bottom Line Beat

Solazyme reported mixed fourth-quarter financial results and a deal with Unilever after the markets closed on Monday.

Jon C. Ogg |

No Ethanol Subsidy, No Problem (BG, RDS-A, CZZ, ADM, VLO, PEIX, GPRE, PBR, FUE)

What will happen to ethanol makers when the US subsidy ends in December, as appears increasingly likely? Bunge Ltd. (NYSE:…

Jon C. Ogg |

How A Renewable Energy IPO May Have Rekindled Nanotech (SZYM, TINY, LMT, PXN)

How does a renewable energy company’s IPO relate to possibly rekindling interest in the tiny sector of nanotechnology?  Actually, there is a…

Paul Ausick |

Bunge Shares Drop After Poor Earnings

ThinkstockBunge Ltd. (NYSE: BG) reported fourth-quarter and full-year 2012 earnings before markets opened this morning. For the quarter, the agribusiness…

Oil & Gas Stock Roundup: Shell’s Q2 Update & Chevron’s Acquisition in Focus
247patrick |

Oil & Gas Stock Roundup: Shell’s Q2 Update & Chevron’s Acquisition in Focus

It was another week when oil prices moved up while natural gas futures marked a loss. On the news front,…

Jon C. Ogg |

Alternative Energy Watch: More Biodiesel Planned in Brazil; Solar Struggles on Two Continents; So Does Wind (ADM, BG, LNT)

Today’s alternative energy news looks at a new joint venture for biodiesel in Brazil, a country that already has much…

Bunge Stock Could Hit $134 by Year-End — JPMorgan Is Betting on It
Joel South |

Bunge Stock Could Hit $134 by Year-End — JPMorgan Is Betting on It

Bunge Global (NYSE:BG | BG Price Prediction) is powering through one of the strongest rallies in the agribusiness sector, with…

Douglas A. McIntyre |

Can Ethanol’s Comeback Last? (PEIX, STKL, CZZ, GPRE, KMP, VLO, SUN, BFRE)

Toward the end of 2008 (and even sooner), ethanol may have seemed like a fad that came and went.  Then…

Top Gaining Stocks

Genuine Parts
GPC • Vol: 5,088,383
Moderna
MRNA • Vol: 14,112,476
Equifax
EFX • Vol: 2,195,638
Vertex Pharmaceuticals
VRTX • Vol: 1,879,133
S&P Global
SPGI • Vol: 3,749,613

Top Losing Stocks

Teradyne
TER • Vol: 5,938,036
KLA
KLAC • Vol: 23,648,857
Corning
GLW • Vol: 21,192,211
Seagate Technology
STX • Vol: 6,302,838
Lam Research
LRCX • Vol: 18,973,383