Bunge and Solazyme expand joint venture to make oils from renewable sources using microbes
Client(s) Bunge Limited
Jones Day assisted Bunge Global Innovation, LLC in renegotiating its joint venture agreements with Solazyme, Inc. in the Netherlands and Brazil to, among other things, expand the products to be made and the geographies and manner in which all such products will be sold. The existing joint venture was formed in 2012 to produce oils for oleochemical and fuel applications in Brazil by fermenting sugar sources using algae. The expanded joint venture will continue to exploit Solazyme's microbial technology but for a broader range of oils, including for food and animal nutrition applications and for sales worldwide. Jones Day U.S., Brazil, and Netherlands offices teamed up to advise Bunge on a wide range of subject matter, including product development, intellectual property, licensing, joint venture governance, tax, antitrust, manufacturing, and sales.