Q1 2014 EARNINGS REPORT MAY 5, 2014 South San Francisco, CA May 2014
RECENT HIGHLIGHTS Manufacturing - Commercial production at Clinton/Galva, expected soon at Moema; scale to nameplate targeted in 12-18 months from commercial start-up Commercial - Progress across our four target markets; launched…
MOEMA FACILITY SCALE UP INFRASTRUCTURE UPSTREAM FERMENTATION RECOVERY Utilities online: Micro & QC labs operating Entire seed train through Engineered operations for - Steam Intermittent initial delivery Media prep system…
PRODUCTION UPDATE: CLINTON/GALVA Four distinct oil-based products commercially produced to date Two oleics Mid-chain Encapso Sales pipeline progressing; shipped to 10 customers to date (2x February update) across multiple…
UNILEVER ANNOUNCES SOLAZYMES OIL IN PREMIER SOAP BRAND Major milestone 7
ENCAPSO: ENCAPSULATED LUBRICANT Tailored Lubricant FIRST OF ITS KIND LUBRICANT Added to well before drilling problems occur Cell Wall Oil released at point of friction (Encapsulation) when & where needed KEY BENEFITS…
ENCAPSO IS A UNIQUE LUBRICANT IN A GROWING MARKET Large market opportunity ahead unconventional drilling is 1 Proactively added intensive and growing rapidly encapsulated Unconventional vs. conventional well production rate…
ENCAPSO: OUTSTANDING INITIAL RESULTS IN THE FIELD Bakken/3 Forks (Williston Basin) Average of 2 days saved per well Up to 16% reduction in torque Heath Formation (Williston Basin): Up to 45% reduction in torque Driller stayed in…
SUMMARY Manufacturing: Clinton/Galva ramp is progressing well Moema production expected soon Commercial: Doubled number of customers shipped to from Clinton/Galva since last call Produced and sold 4 distinct products from…
FINANCIAL HIGHLIGHTS Three Months Ended March 31, in millions 2014 2013 Revenue 12.4 6.7 Product revenue 7.4 4.0 R&D programs 5.0 2.7 Non-GAAP Costs and Opex1 38.2 26.0 Non-GAAP Net Loss (30.5) (21.5) Cap Ex & SB Oils Equity…
DEFINING PLANT OPERATIONS THREE PHASES TO STEADY STATE Phase 1: Phase 2: Phase 3: Establish Operational Baseline Ramp-Up Steady State 6+ Months 6+ Months Ongoing Nameplate Production Capacity Capacity Time Startup plant…
2014 OBJECTIVES Technology Manufacturing Commercialization Continue to hit JDA milestones Deliver consistent product Expand sales capability Develop new oils/products Establish supply reliability Ramp sales with plant output…
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