REANDA-NEWS. Mitsui & Co., Ltd. and Solazyme, Inc. have entered into approximately USD 20 million multi-year agreement to jointly develop high-value tailored algal oils.

Under this Joint Development Agreement, Mitsui expects to establish new technology to produce a new suite of high-value tailored oils from microalgae.

High-value oils are mainly used in lubricant additives and plastic additives and are conventionally extracted from natural plants, such as palm and coconut.

There are supply limitations caused by both regional oil production and constraints in the profiles of conventional oils. This product development allows us to produce tailored-oils that are in demand in the marketplace. Mitsui looks forward to supplying these high-value oils stably for applications for which demand is expected to increase.

Solazyme, Inc. has unique, cutting-edge biotechnology with which it has successfully commercialized production of algal oils for applications of fuels and cosmetics and Solazyme is focused on strengthening its products into Chemical application.