Supply Contract Represents Single Largest Purchase of Biofuel in Government History
WASHINGTON, Dec. 5, 2011 (GLOBE NEWSWIRE) -- Dynamic Fuels, LLC, a joint
(Nasdaq:SYNM), has been awarded a contract to supply the U.S. Navy with
450,000 gallons of renewable fuels. Solazyme, Inc.
(Nasdaq:SZYM), a renewable oil and bioproducts company, will help Dynamic
Fuels fulfill the contract, which the Navy and the USDA report is the single
largest purchase of biofuel in government history.
The contract involves supplying the Navy with 100,000 gallons of jet fuel
(Hydro-treated Renewable JP- 5 or HRJ-5) and 350,000 gallons of marine
distillate fuel (Hydro-Treated Renewable F-76 or HRD-76). The fuel will be
used as part of the Navy's efforts to develop a "Green Strike Group"
composed of vessels and ships powered by biofuel.
The Navy contract follows on the heels of both companies' involvement in
historic commercial airline flights using biofuel. This includes Dynamic
Fuels' renewable jet fuel work with KLM Royal Dutch Airlines, Finnair,
Thomson Airways and Alaska Airlines, and Solazyme's recent flight and
partnership with United Airlines, which includes a letter of intent to
provide 20 million gallons a year starting in 2014.
The fuel for the Navy will be manufactured at Dynamic Fuel's Geismar,
Louisiana, renewable fuels plant using U.S.-sourced yellow grease (used
cooking oil) as well as Solazyme's tailored algal oil as feedstocks.
The fuel will be delivered to the U.S. Navy in May 2012. The Dynamic Fuels
plant, which has been in operation for more than a year, is designed to
convert non-food feedstocks such as algal oil, animal fats, and greases into
"This award clearly demonstrates that we're building momentum for the sale
and use of our renewable fuels," said Jeff Bigger, director of the Dynamic
Fuels LLC Management Committee. "We've previously provided the U.S. military
with fuel for testing. We believe this contract confirms they recognize the
performance and environmental advantages of our fuel since they're coming
back for more and are asking for a much larger volume."
"This is an historic contract and we are proud to be teaming up with Dynamic
Fuels to produce and deliver the advanced biofuel to the U.S.
Navy to sail the Great Green Fleet. Dynamic Fuels has been a leader in next
generation advanced biofuels technology and this partnership further
solidifies the progress that both of our companies are making in bringing
advanced renewable fuels to commercialization," said Jonathan Wolfson, CEO,
Solazyme. "Solazyme is honored to be working with the U.S. Navy and
DLA-Energy in driving forward the Navy's effort under Secretary Ray Mabus to
source 50 percent of its energy from renewable sources by 2020."
To see video of operations at Dynamic Fuels, click on the following
Photos of the facility can be seen by clicking:
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Tyson Foods, Inc., founded in 1935 with headquarters in Springdale,
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Syntroleum Corporation owns the Syntroleum(R) Process for Fischer-Tropsch
(FT) conversion of synthesis gas derived from biomass, coal, natural gas and
other carbon-based feedstocks into liquid hydrocarbons, the Synfining(R)
Process for upgrading FT liquid hydrocarbons into middle distillate products
such as synthetic diesel and jet fuels, and the Bio-Synfining(R) technology
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About Solazyme, Inc.
Solazyme, Inc. is a renewable oil and bioproducts company that transforms a
range of low-cost plant-based sugars into high-value tailored 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's oils and fuels provide compelling solutions to increasingly
complex issues of fuel scarcity, energy security and environmental impact
while fitting into the pre-existing multi-trillion dollar fuel
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Solazyme(R), the Solazyme logo and other trademarks or service names are the
trademarks of Solazyme, Inc.
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