Solazyme and Bunge Sign Framework Agreement for Commercial Renewable Oil Plant in Brazil

Solazyme, Inc. SZYM and Bunge Global Innovation LLC, a wholly-owned subsidiary of Bunge Limited BG announced today that they have entered into a framework agreement for the formation of a joint venture entity focused on the production of triglyceride oils in Brazil. The JV anticipates building a 100,000 MT renewable oil production facility located at a Bunge owned sugar cane mill in Brazil. Engineering for the plant will begin immediately and will be funded by both parties. Upon successful completion of site-specific engineering designs and execution of final JV agreements, construction on the facility will commence, with a targeted start-up during the 2013 cane harvest.