Roquette Frères, Solazyme agree to dissolve microalgae joint venture
Global starch producer Roquette Frères, S.A., Lestrem, France, announced today that Solazyme Roquette Nutritionals, LLC, a 50-50 joint venture formed with Solazyme Inc., San Francisco, in 2010 will be dissolved. Solazyme Roquette Nutritionals, also located in San Francisco, sought to commercialize microalgae-sourced, nutrition-focused ingredients.
The decision to terminate the joint venture was driven by divergent views on commercialization targets for Solazyme Roquette Nutritionals.
In a press release, Roquette says it has been a believer in microalgae as a raw material since 2008 and is well-positioned to independently continue with the development of nongenetically modified, innovative microalgae-sourced ingredients for nutritional applications. Roquette has invested significant resources and know-how into the commercialization of the microalgae-based food ingredients and remains committed to meeting market demands, while aligning the timing of its market launch and financial resources with its overall business objectives.