Microalgae innovator Solazyme has entered into an agreement with starch producer Roquette to terminate the joint venture (JV) between the parties - Solazyme Roquette Nutritionals, with respect to their joint venture and operating agreement dated 3 November 2010.
The decision to terminate the JV was driven by divergent views on a commercial strategy and timeline for the manufacturing and marketing of products. Solazyme intends to boost commercialization of its microalgal food ingredients range.
The parties expect the formal termination to occur in the coming weeks.
Solazyme and Roquette formed the 50:50 joint venture in 2010 to develop food ingredients from microalgae.
Solazyme, headquartered in South San Francisco, is a renewable oil and bioproducts company that transforms a range of low-cost plant-based sugars into high-value oils and innovative microalgal food ingredients.
Roquette Frères, based in France, is a global starch and starch-derivatives manufacturer.
