San Donato Milanese (Italy), 07 November 2014 – Versalis, the chemical company of Eni, and Solazyme, Inc. (NASDAQ: SZYM), a renewable oil and bioproducts company, announced a partnership to expand the commercial use of Encapso™ – the world’s first commercially-available, biodegradable encapsulated lubricant for drilling fluids.
Part of a leading oil and gas company and operating internationally with a dedicated distribution network, Versalis will expand market access and drive global sales for Encapso as a high-performance and sustainable drilling fluid additive. Versalis’ initial emphasis focus for the use of Encapso will be oil and gas fields operated by its parent company Eni, which represent is responsible for a significant amount of the world’s petroleum drilling activity. Encapso will be featured as part of the company’s recently launched product portfolio of Specialty Oilfield Chemicals product portfolio.
‘This partnership represents another important step to enhance our portfolio in the of oilfield chemicals, that which is a strategic business and a diversification opportunity for our company. Encapso, with its renewable footprint and biodegradability biodegradable properties, offers a high-performance and sustainable solution for the oil and gas industry. The know-how and the innovation potential of Solazyme makes it an ideal partner for Versalis to further develop its bio-based chemicals business‘, said Daniele Ferrari, Versalis CEO.
About Encapso™
Winner of the Presidential Green Chemistry Challenge Award, Solazyme launched Encapso in the Spring of 2014. With its unique, on-demand lubricant delivery system, Encapso increases rates of penetration, decreases drag and reduces both rotational torque and friction in a variety of vertical oil and water-based horizontal drilling applications. This can lead to reduced drilling costs and accelerated operations. Developed from Solazyme’s technology platform, Encapso is non-hazardous and biodegradable.
Encapso’s effectiveness has been demonstrated commercially in more than 30 oil wells in basins across the United States and Canada, including major areas of exploration in the Williston Basin, Denver-Julesburg Basin, Permian Basin and Western Canada, as well as in laboratory trials. Encapso’s versatility, versatility and inert shell makes make it re-usable across various formulations and applications – further reducing overall customer costs.
About Versalis
Versalis (Eni) is interfacing with markets operating in markets through using its globally-oriented strategies and a market-driven product portfolio. It leads the industry in manufacturing intermediates, polyethylene, styrenics, and elastomers, and is entering the green chemicals and polymers industry partnering in partnership with worldwide biotech companies. Versalis prides itself on its wide range of proprietary technologies, wide-reaching distribution network and after-sales assistance. As part of its new strategy, the company aims to gain a leadership position in fast-growing markets by leveraging its technological and industrial expertise. In Asia, Versalis has entered into partnerships with global petrochemical producers for development of its elastomer division.
About Solazyme
Solazyme, Inc. (Nasdaq: SZYM) is a renewable oil and bioproducts company that transforms a range of low-cost, plant-based sugars into high-value 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 focusing on commercializing its products into four target markets: (1) fuels and chemicals, (2) nutrition, (3) encapsulated lubricants, and (4) consumer products.
