16 May '11, 4pm

Solazyme Sets Terms of IPO: $15 to $17 a Share: Solazyme, which says it can turn algae into food, industrial c...

Solazyme, which says it can turn algae into food, industrial chemicals and food, will try to sell almost 10 million shares in an IPO for $15 to $17 per share. The company has raised approximately $128 million in several rounds. If successful, the IPO would give Solazyme a market cap of around $1 billion. There's good reason to be hopeful. Solazyme, which grows algae via fermentation in large tanks, has produced more algae fuel than anyone else. It currently is in the second phase of a pilot for jet fuel with the U.S. Air Force. Rising fuel prices and tighter CAFE standards also give biofuel companies insulation against a sudden swoon in prices. The 2008 economic debacle floored the entire industry after oil prices plummeted. It was also one of the first biofuel companies to branch out into food additives and chemicals. Chevron and Unilever are among the strategic partners....

Full article: http://www.greentechmedia.com/articles/read/solazyme-sets...

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Solazyme Announces Pricing of Initial Public Offering SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Solazyme, Inc., a rene...