Solazyme makes distribution deal with Sephora
The arrangement will expand the range of products Solazyme will sell in Sephora’s outlets, with particular emphasis placed on the new Algenist line of Anti-Ageing Oil.
VP of marketing for the brand Tania Toubba said:“Cellular rejuvenation benefits to the skin, hydration benefits to the skin. You’re going to get anti-aging products that really work.”
The new Algenist products will be available in Sephora stores from August 8, 2013. Launch areas include the US, Canada, Mexico, and across the EU.
The Algenist brand
The Algenist brand of products developed from Solazyme’s research into biofuels. As the name suggests, they are mostly based on substances derived from algae.
A central component of the beauty items is Alguronic acid, an anti-aging substance discovered while Solazyme were researching renewable energy sources. They also use a blend of active proteins and peptides.
Solazyme chief scientist Anna Coragliotti said: "Think of it as greener, more sustainable skincare. Algae are survivors."
Eurucic acid
Solzayme also posted its quarterly report, which highlights the company’s expanding production of eurucic acid, created using their proprietary microalgae platform.
Eurucic acid is used as an emulsifier in the cosmetics industry and as an additive for plastics. The company is currently developing eurucic acid rich oils in partnership with other biotech and chemical companies.
Jonathan Wolfston, CEO of Solazyme, said:“Tailored oil technology breakthroughs are continuing to open additional attractive end market opportunities.”
“This is evidenced by the announcement of the new high erucic tailored oil under development with Mitsui and the related commercial supply terms with Sasol."
Financial performance
The report also showed a decrease in revenue to USD $11.2m for the time period ending June 30, down from USD $13.5m in the same quarter of 2012.
The firm also posted sales increases of 21 percent, from $4.1-$4.9m, and developmental revenue increases of 33 percent, from $4.7 to $6.2m.
Solazyme attributed the overall decline to a decrease in government funded revenues, with a spokesperson describing the drop as“in line with our expectations.”
