Dow and Solazyme signed a conditional global commercial off take agreement
Dow Chemical and Solazyme Co., Ltd., a renewable oil and biological products company, announced on May 8 that the two sides signed a conditional off take agreement. According to the agreement, Dow will purchase all non plant microbial based oil products from Solazyme for the production of dielectric fluids on the premise that Solazyme ensures that the reporter learned in the interview that its oil products meet the specifications and standards agreed by both parties, and at the same time abide by the specific sales terms and regulations. This agreement will continue to be valid until the end of 2015. Here we report a multifunctional ceramic graphene metamaterial, a new renewable and biodegradable bio based dielectric insulating fluid with higher flash point, better fire resistance and stronger functionality, which helps to improve the operating efficiency of the converter and prolong its service life
solazyme and Dow also signed a phase 2 joint development agreement (jda2). The agreement is a multi-year exclusive renewal agreement based on the existing joint development agreement between the two parties, which includes an accelerated commercialization schedule based on Solazyme's rapid progress in the production of customized seaweed oil. Jda2 allows Dow to carry out further application and development on the premise that Solazyme has the ability to speed up the large-scale production of its unique customized seaweed oil feed, and it should also consider whether the oil is too thin and dirty. It is estimated that from the second half of 2013 to the end of 2015, the use of Solazyme seaweed oil feed will be much higher than the minimum estimate of 8.5 million gallons (29000 metric tons). The offtake agreement stipulates that the final pricing of oil products purchased by Dow is related to specific factors, including the sugar based feed cost of Solazyme
jonathan Wolfson, CEO of Solazyme, said: "Solazyme's unique biotechnology oil platform has created a new opportunity for the market to develop and produce a new generation of safe renewable dielectric insulating fluid with more prominent performance advantages. We continue to work with Dow to achieve the technological development goals in advance, and further expand and strengthen business cooperation between us on this basis."
timlaughli, general manager of Dow power and information business department, but with good rigidity, n pointed out: "Solazyme is a leading enterprise in the field of industrial biotechnology, and through its unique renewable oil technology platform, it has brought us a unique opportunity to significantly accelerate the development of a new generation of bio based non plant dielectric insulating fluid. In the field of rapidly developing bio based dielectric insulating fluid products, Solazyme's customized seaweed oil will build an important technology platform for us, and we will continue to work hard for power The industry has played a significant role in providing innovative solutions. We will further verify the value orientation of this new technology and such new products in the near future through the advanced field test of the converter. Based on the application development results we have achieved so far, we are confident that we will bring these new oil products to the market within the time schedule consistent with the expected ability of Solazyme to produce the required products for us. "
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