Issue Date: March 21, 2011
Solazyme Files For $100 Million IPO
Algal oil start-up Solazyme has filed for a $100 million initial public offering of stock. The move comes after two other renewable materials firms, Amyris and Gevo, also went public in recent months. The offering will be a test of the market’s interest in algae firms, of which Solazyme is one of many. Rather than rely on photosynthesis to grow algae, the company uses a genetically modified strain that feeds on sugar in fermentation tanks. Target markets for the oil are fuels, chemicals, nutrition, and personal care, the filing says.
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