Solazyme and Bunge Global Innovation, a subsidiary of Bunge Limited have signed definitive agreements with other Bunge subsidiaries to set up a joint venture (JV) to construct a renewable oil production facility in Brazil.
The JV, which will operate under the name Solazyme Bunge Produtos Renováveis, will build, own and operate the commercial-scale renewable tailored oils production facility adjacent to Bunge’s Moema sugarcane mill.
The facility will have an expected annual production capacity of 100,000 metric tons of oil.
It will utilize Solazyme’s renewable tailored oil production technology, combined with Bunge’s sugarcane supply and processing capabilities, to produce sustainable tailored triglyceride oils for use in oleochemical and fuel applications in the Brazilian domestic market.
The facility will be equally financed by Solazyme and Bunge, and startup of the facility is expected in the second half of next year.