WASHINGTON, Dec 5, 2011 (GlobeNewswire via COMTEX) -- Dynamic Fuels, LLC, a
joint venture between Tyson Foods, Inc.
and
Syntroleum Corporation
, has
been awarded a contract to supply the U.S. Navy with 450,000 gallons of
renewable fuels. Solazyme, Inc.
, a
renewable oil and bioproducts company, will help Dynamic Fuels fulfill the
contract, which the Navy and the USDA report is the single largest purchase of
biofuel in government history.
The contract involves supplying the Navy with 100,000 gallons of jet fuel
(Hydro-treated Renewable JP- 5 or HRJ-5) and 350,000 gallons of marine
distillate fuel (Hydro-Treated Renewable F-76 or HRD-76). The fuel will be used
as part of the Navy's efforts to develop a "Green Strike Group" composed of
vessels and ships powered by biofuel.
The Navy contract follows on the heels of both companies' involvement in
historic commercial airline flights using biofuel. This includes Dynamic Fuels'
renewable jet fuel work with KLM Royal Dutch Airlines, Finnair, Thomson Airways
and Alaska Airlines, and Solazyme's recent flight and partnership with United
Airlines, which includes a letter of intent to provide 20 million gallons a year
starting in 2014.
The fuel for the Navy will be manufactured at Dynamic Fuel's Geismar,
Louisiana, renewable fuels plant using U.S.-sourced yellow grease (used cooking
oil) as well as Solazyme's tailored algal oil as feedstocks. The fuel will be
delivered to the U.S. Navy in May 2012. The Dynamic Fuels plant, which has been
in operation for more than a year, is designed to convert non-food feedstocks
such as algal oil, animal fats, and greases into renewable fuels.
"This award clearly demonstrates that we're building momentum for the sale
and use of our renewable fuels," said Jeff Bigger, director of the Dynamic Fuels
LLC Management Committee. "We've previously provided the U.S. military with fuel
for testing. We believe this contract confirms they recognize the performance
and environmental advantages of our fuel since they're coming back for more and
are asking for a much larger volume."
"This is an historic contract and we are proud to be teaming up with Dynamic
Fuels to produce and deliver the advanced biofuel to the U.S. Navy to sail the
Great Green Fleet. Dynamic Fuels has been a leader in next generation advanced
biofuels technology and this partnership further solidifies the progress that
both of our companies are making in bringing advanced renewable fuels to
commercialization," said Jonathan Wolfson, CEO, Solazyme. "Solazyme is honored
to be working with the U.S. Navy and DLA-Energy in driving forward the Navy's
effort under Secretary Ray Mabus to source 50 percent of its energy from
renewable sources by 2020."
To see video of operations at Dynamic Fuels, click on the following link:
http://www.youtube.com/watch?v=zsI1dov9Xbw
Photos of the facility can be seen by clicking:
http://www.flickr.com/photos/tysonfoods/sets/72157625319377772/ .
About Tyson Foods
Tyson Foods, Inc., founded in 1935 with headquarters in Springdale, Arkansas,
is one of the world's largest processors and marketers of chicken, beef and
pork, the second-largest food production company in the Fortune 500 and a member
of the S&P 500. The company produces a wide variety of protein-based and
prepared food products and is the recognized market leader in the retail and
foodservice markets it serves. Tyson provides products and services to customers
throughout the United States and more than 130 countries. The company has
approximately 115,000 Team Members employed at more than 400 facilities and
offices in the United States and around the world. Through its Core Values, Code
of Conduct and Team Member Bill of Rights, Tyson strives to operate with
integrity and trust and is committed to creating value for its shareholders,
customers and Team Members. The company also strives to be faith-friendly,
provide a safe work environment and serve as stewards of the animals, land and
environment entrusted to it.
The Tyson Foods, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=3224
About Syntroleum
Syntroleum Corporation owns the Syntroleum(R) Process for Fischer-Tropsch
(FT) conversion of synthesis gas derived from biomass, coal, natural gas and
other carbon-based feedstocks into liquid hydrocarbons, the Synfining(R) Process
for upgrading FT liquid hydrocarbons into middle distillate products such as
synthetic diesel and jet fuels, and the Bio-Synfining(R) technology for
converting animal fat and vegetable oil feedstocks into middle distillate
products such as renewable diesel and jet fuel using inedible fats and greases
as feedstock. The 50/50 venture -- known as Dynamic Fuels -- was formed to
construct and operate multiple renewable synthetic fuels facilities, with
production on the first site beginning in 2010. The Company plans to use its
portfolio of technologies to develop and participate in synthetic and renewable
fuel projects. For additional information, visit the Company's web site at
www.syntroleum.com
About Solazyme, Inc.
Solazyme, Inc. is a renewable oil and bioproducts company that transforms a
range of low-cost plant-based sugars into high-value tailored oils.
Headquartered in South San Francisco, Solazyme's renewable products can replace
or enhance oils derived from the world's three existing sources -- petroleum,
plants and animal fats. Initially, Solazyme is focused on commercializing its
products into three target markets: (1) fuels and chemicals, (2) nutrition and
(3) skin and personal care. Solazyme's oils and fuels provide compelling
solutions to increasingly complex issues of fuel scarcity, energy security and
environmental impact while fitting into the pre-existing multi-trillion dollar
fuel infrastructure. For more information, please visit our website:
http://www.solazyme.com
Solazyme(R), the Solazyme logo and other trademarks or service names are the
trademarks of Solazyme, Inc.
This press release contains certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 about Solazyme,
including statements that involve risks and uncertainties concerning: the future
manufacture and delivery of jet fuel by Solazyme and the timing of such
delivery; the potential purchase of fuel by United Airlines; the timing of the
delivery of fuel to the U.S. Navy and what that fuel will be used for; and
Solazyme's future commercialization plans. When used in this press release, the
words "will," "expects," "intends" and other similar expressions and any other
statements that are not historical facts are intended to identify those
assertions as forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Any such statement may be influenced
by a variety of factors, many of which are beyond the control of Solazyme, that
could cause actual outcomes and results to be materially different from those
projected, described, expressed or implied in this press release due to a number
of risks and uncertainties. Potential risks and uncertainties include, among
others: the ability of Solazyme and/or Dynamic Fuels to produce in-spec jet fuel
at a commercially acceptable price; Solazyme's ability to access sufficient
manufacturing capacity; and Solazyme's ability to maintain existing, and
establish new, strategic business relationships. Accordingly, no assurances can
be given that any of the events anticipated by the forward-looking statements
will transpire or occur, or if any of them do so, what impact they will have on
the results of operations or financial condition of Solazyme.
In addition, please refer to the documents that Solazyme, Inc. files with the
Securities and Exchange Commission, including its Quarterly Reports on Form
10-Q, for a discussion of these and other risks. You are cautioned not to place
undue reliance on forward-looking statements, which speak only as of the date of
this press release. Solazyme is not under any duty to update any of the
information in this press release.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Dynamic Fuels
