Bunge Ltd invests in Solazyme biofuel

SAN FRANCISCO, Aug 26 (BestGrowthStock) – U.S. agribusiness group
Bunge Ltd (BG.N: ) has invested in San Francisco Bay Area
biofuels start-up Solazyme, the biofuels company said.

Solazyme uses algae to turn sugars such as those in
sugarcane juice into renewable oils that can be turned into
fuel and other products, and Bunge is one of the largest
sugarcane processors in Brazil. Solazyme plans small,
commercial-scale production of renewable oils in 2012 or 2013.

The investment comes on top of a $52 million round closed
earlier this month. “This isn’t at the scale of that close,”
Chief Executive Jonathan Wolfson said in a phone interview, but
it builds links with a company that could help Solazyme grow.

“The question of commercialization is the question
everybody always asks,” Wolfson said.

Wolfson declined to say how much Bunge has invested.

Bunge processes sugar cane, a fuel for Solazyme, and sells
vegetable oils. “Actually bringing in strategic investors that
sit on the two key sides of our commercialization needs is an
important milestone,” he said.
(Reporting by Peter Henderson; editing by Carol Bishopric)

Bunge Ltd invests in Solazyme biofuel