Dive Brief:
- Bunge Limited and Solazyme, Inc. have expanded a joint venture started in 2012 to build an oils production plant. The JV will now include Bunge marketing of Solazyme algae oil products produced in that plant.
- In 2010 Bunge, a leader in oilseeds, made an equity investment in Solazyme, which uses microalgae to create oils and other ingredients. In April 2012 the companies formed a joint venture "to build, own and operate a commercial-scale renewable tailored oils production facility adjacent to Bunge's Moema sugarcane mill in Brazil." The plant began commercial production in May 2014.
- Now, Bunge's global food oil sales and applications team will market three Solazyme AlgaWise products produced at the Brazil plant: Ultra Omega-9 Algae Oil, High Stability Algae Oil and Algae Butter.
Dive Insight:
Solazyme has been increasing its development of food ingredients from microalgae. This expanded joint venture with a large, established ingredients company opens up a huge marketing opportunity for the AlgaWise oils, which says it will have a smaller carbon footprint than most commercial oils.
Soren Schroder, CEO, Bunge Limited, said, "Strengthening our relationship with Solazyme gives us a differentiated product offering in specialty food and feed ingredients. With Solazyme, we believe we are bringing true innovation and enhanced sustainability to the global food industry."
