Solazyme Announces US District Court Decision to Confirm Arbitration Award in Proceedings with Roquette Freres

Solazyme, Inc. (Nasdaq:SZYM), a pioneer in microalgae innovation and producer of sustainable algae oils and specialty ingredients has announced that on December 21, 2015, the United States District Court for the District of Delaware handed down a major decision in the proceedings between Solazyme, Inc., and Roquette Frères, S.A. Specifically, the court confirmed in its entirety, and without alteration, the Arbitration Panel Award of February 19, 2015. In addition, the court denied Roquette's motion for an order to vacate the Award, and denied Roquette's motions for summary judgment as to its declaratory judgment actions.

In February, the Arbitration panel found that Roquette has attempted to market products and patent intellectual property based on the intellectual property and products that Solazyme contributed to the parties’ joint venture (Solazyme Roquette Nutritionals LLC), specifically (i) a high lipid (whole) algal flour, and (ii) a high protein (whole) algal powder. Further, prior to working with Solazyme, Roquette did not possess any products that were in any way similar to either product.

The United States District Court’s confirmation of the Arbitration Award confirms that:

• Essentially all of the intellectual property from the Solazyme Roquette Nutritionals joint venture, including all patent applications and all “know-how” related to the products, is assigned solely to Solazyme,
• Roquette is to assign to Solazyme all of Roquette’s patent applications filed on or after November 3, 2010 related to microalgae foods, microalgae ingredients, microalgae nutritionals and all methods related to making and using them, and
• Roquette is to pay Solazyme $2.3 million dollars to cover all of Solazyme’s fees for the arbitration.