Companies to Kick-off Month-long market pilot program on advanced biofuels
REDWOOD CITY, Calif. (November 13, 2012) – Beginning today, Propel Fuels (www.propelfuels.com), a leading retailer of renewable fuels and clean mobility solutions, and Solazyme, Inc. (NASDAQ: SZYM), a renewable oil and bioproducts company, are bringing algae-derived fuel to retail pumps for what we believe to be the first time in history. The two leading renewable fuel brands have come together to offer Solazyme’s algae-based Soladiesel®BD to drivers through Propel’s Bay Area network of retail renewable fuel locations. The month-long pilot program provides the industry’s first opportunity to test consumer response to this advanced renewable fuel.
Solazyme’s high quality algae-based SoladieselBD meets or exceeds ASTM quality specifications and has shown performance enhancements including cold temperature operating performance. The fuel is compatible with existing diesel engines and the fuel’s performance is guaranteed by Propel. The fuel will be sold at the same price as conventional diesel fuels and will be available exclusively at Propel’s Clean Fuel Points in Redwood City, San Jose (N. First St.), Berkeley, and Oakland.
“Propel is committed to providing our customers with access to the highest quality, most sustainable, domestically produced fuels, so we’re proud to introduce the next generation of fuels to the retail market,” said Matt Horton, CEO of Propel Fuels. “Propel’s growing station network provides the critical link between these future fuels and today’s consumer fuel tanks, giving our customers a chance to make history.”
Solazyme’s technology platform converts plant sugars into oils by feeding the sugars to microalgae in standard industrial fermentation equipment. The algae consume the sugars and convert them into oils rapidly and efficiently. While it takes millennia to make petroleum, Solazyme’s process takes merely a few days. Testing undertaken by the National Renewable Energy Laboratory (NREL) shows that, in a 20% blend, SoladieselBD significantly outperforms ultra-low sulfur diesel in total hydrocarbons (THC), carbon monoxide (CO) and particulate matter tailpipe emissions. This includes an approximate 30% reduction in particulates, a 20% reduction in CO and an approximate 10% reduction in THC.
“Solazyme’s revolutionary algae-based technology platform has supplied our development partners and customers with advanced biofuels that meet or exceed some of the world’s most stringent fuels specifications and requirements, “ said Bob Ames, VP of Fuels, Solazyme. “We’ve successfully demonstrated our land-based fuels in fleet vehicles and corporate busses, and are excited about this pilot program with Propel because it enables us to make these fuels available to the public.”
Headquartered in Redwood City, California, Propel Fuels builds and operates a network of green-built filling stations providing convenient access to American, low carbon fuels and clean mobility solutions. The company offers consumers and fleets new fuel choices that make progress toward reducing carbon emissions, creating jobs, and lowering America’s dependence on foreign oil. Propel has also developed CleanDrive®, the nation’s first integrated carbon emission reduction tracking platform, and is the only fueling company in the country to enable drivers to offset their emissions at the pump through their CarbonOffset program. Propel operates a growing network of locations providing cleaner mobility options in California and Washington State. More information is available at www.propelfuels.com and by following Propel on Twitter at: @PropelFuels.
About Solazyme, Inc.
Solazyme, Inc. (NASDAQ: 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®, the Solazyme logo and other trademarks or service names are trademarks of Solazyme, Inc.
This press release contains certain forward-looking statements about Solazyme, including statements that involve risks and uncertainties concerning: its fuel commercialization plans; the speed and efficiency of its production process; the anticipated demand for its products and its ability to supply such demand; the attributes of its products and the future performance and sustainability of its products. When used in this press release, the words “will”, “expects”, “intends” and other similar expressions and any other statements that are not historical facts are intended to identify those assertions as forward-looking statements. Any such statement may be influenced by a variety of factors, many of which are beyond the control of Solazyme, that could cause actual outcomes and results to be materially different from those projected, described, expressed or implied in this press release due to a number of risks and uncertainties. Potential risks and uncertainties include, among others: implementation risk in deploying new technologies; Solazyme’s limited history in commercializing products; market acceptance of its products; its limited experience in constructing and operating commercial manufacturing facilities; its ability to obtain requisite regulatory approvals; its ability to enter into and maintain strategic collaborations; and its access, on favorable terms, to any required financing. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of Solazyme.
In addition, please refer to the documents that Solazyme files with the Securities and Exchange Commission, including its Quarterly Reports on Form 10-Q, for a discussion of these and other risks. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release. Solazyme is not under any duty to update any of the information in this press release.
As Clinton Keith Rd Bridge Reopens, Propel & KA Enterprises Open Renewable Fuel Station
New Clean Mobility Center is first to offer Fresno drivers E85 Flex Fuel, biodiesel and carbon offsets at the pump
Renewable fuels retailer recognized for bringing consumer access to clean, domestically produced fuels across California
Sales and survey results reveal driver preference for algae-based Soladiesel® over conventional fuels; Sales increase 35 percent at participating test sites vs. non-participating sites
Grand opening offers $10 of free E85 Flex Fuel to encourage the community to try clean, American-made fuel
Funding will fuel growth plans for more than 200 stations
Companies to Kick-off Month-long market pilot program on advanced biofuels
Companies to kick-off month-long market pilot program on advanced biofuels
Renewable Fuel Retailer Joins Prestigious Group of the Bay Area’s Fastest Growing Companies
Renewable Fuel Retailer Ranks 8th in Region with 400 Percent Growth Rate As Increasing Number of
Drivers Look for Cleaner Mobility Solutions
Ninth Propel fueling station in Greater Sacramento region provides convenient and cost-effective access to clean, American-made, E85 Flex Fuel and biodiesel for drivers and fleets
Renewable fuel retailer recognized as America’s fastest growing private fuel brand
In two-month pilot, customers have chosen to offset carbon emissions more than 1,000 times,
funding clean energy projects
Agreement ensures affordable consumer access to clean, renewable Flex Fuel E85 for Propel’s growing network of fueling stations
Fueling infrastructure to provide new choices to California’s nearly one million Flex Fuel drivers
Clean Mobility Centers Meet Demands of Today’s Consumer With New Fuel Choices and the Nation’s First Carbon Offsets at the Pump
Fuel Retailer Achieves Highest Ranking Among Renewable Energy Companies
West Coast’s Largest Renewable Fuel Retailer to Provide E85 for Award-Winning Flex Fuel Fleet
Largest deal of its kind will provide renewable fuel choice to America’s most underserved market
Company responds to consumer demand for higher blends of renewable fuels, at affordable price