Algae oils firm Solazyme filed on March 11 plans for an initial public offering (IPO) of up to $100 million which the company says it will use to fund R&D and capital expenditures. The company did not disclose pricing or a timeline for the offering. Solazyme's SEC filing says the company plans to accelerate its commercial strategy by accessing feedstock arrangements and establishing manufacturing capacity with partners. The company uses microalgae to convert biomass directly into oil and other biomaterials for biofuel production and replacements for fossil petroleum and plant oils and compounds in products such as oleochemicals, cosmetics, and foods.
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