Agribusiness Co. Bunge Invests in Biofuel Startup Solazyme
Solazyme, a research and development-focused algae-based biofuel company in South San Francisco, Calif, announced that Bunge, the White Plains, NY food company, has invested an undisclosed amount in its Series D round.
Earlier this month, Solazyme said it had raised $52 million in a fourth round of financing led by Braemar Energy Ventures and Morgan Stanley.
With Bunge stepping in as a strategic investor, one of the world’s largest originator and distributor of vegetable oil and sugar-cane processor, Solazyme is securing crucial feedstock that will help it scale its biofuel production. Indeed, unlike a number of its competitors, Solazyme grows its unique algae strain in fermentation tanks without sunlight but by feeding it sugar.
Solazyme CEO Jonathan Wolfson said:
Bunge is a world-class organization with enormous expertise and capabilities in many of the markets Solazyme is targeting. Solazyme’s technology sits right at the intersection of Bunge’s substantial access to sugarcane and its key position in the worldwide natural oils markets. This, along with their operational and logistical capabilities, makes Bunge an ideal strategic investor.