Thursday, June 7, 2007

Imperium, Solazyme Partner to Increase Biodiesel Output

Two alternative energy companies, Solazyme Inc. and Imperium Renewables Inc., reported Wednesday that they have agreed to a strategic partnership. Under the terms of their biodiesel feedstock development agreement, Solazyme will produce and deliver algal oil for Imperium's biodiesel production process. Imperium said it will then convert the feedstock oil into biodiesel fuel using a proprietary technology. Solazyme, which was founded in 2003 and is headquartered in South San Francisco, said it recently closed a Series B financing round that will allow it to expand its biofuel program. Based in Seattle, Imperium Renewables claims to be the largest biodiesel producer on the West Coast and said it is constructing a new, 100-million-gallon-per-year facility in Grays Harbor, Wash. Imperium added that the new facility should open next month.