Solazyme increases sales of oil and biofuel in Q1 2012

Tuesday May 08 2012

Solazyme Inc.'s total revenues in the quarter that ended March 31, 2012 rose 75% to $13.6 mln from $7.7 mln in Jan/Mar 2011.

The total included product revenues of nearly $4.0 mln (2011: $2.3 mln), which rose y/y as the company managed to increase sales of its Algenist cosmetics line and as it completed the delivery of its algal-based marine diesel (Soladiesel) to the US Department of Defence. R&D revenues also rose, reaching $9.6 mln, on the back of development agreements with The Dow Chemical Company in the field of renewable oils and with Volkswagen in the advanced biodiesel segment.

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