June 24, 2013
SAN FRANCISCOSolazyme, Inc., and Roquette Frères, S.A. have agreed to dissolve their joint venture and operating agreement for the production, commercialization and market development of microalgae-derived food ingredients dated Nov. 3, 2010. The formal dissolution is expected to take place in the coming weeks.
The joint venture was formed to launch a new category of natural, healthy and functional ingredients based on microalgae that provide nutritional properties along with appealing taste and texture. Solazyme-Roquette Nutritionals planned to launch a variety of oil, protein and fiber based products aimed at delivering improved performance with an improved health profile compared to ingredients in the market today.
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.
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