Solazyme, Inc., a South San Francisco, CA-based renewable oil production company utilizing algal biotechnology, has raised $52m in its Series D financing round.
The round was led by Braemar Energy Ventures and new investor Morgan Stanley, with participation from all major existing backers including Lightspeed Venture Partners, The Roda Group, Harris and Harris Group, VantagePoint Venture Partners and Zygote Ventures. Existing strategic investors CTTV Investments LLC, the venture capital arm of Chevron Technology Ventures LLC, and San-Ei Gen, a major Japanese manufacturer and distributor of food ingredients, also participated.
Solazyme uses microbial fermentation to produce renewable oil that can be used for clean and scalable fuels, chemicals, nutritional food ingredients and health and wellness products.
The company had recently received a $21.8m DOE grant to build its first integrated biorefinery on the site of Cherokee Pharmaceuticals’ existing commercial biomanufacturing facility in Riverside, PA.