Solazyme Inc.

Shares jumped nearly 9% in mid-afternoon trading Monday after Syntroleum Corporation announced that its renewable fuel joint-venture Dynamic Fuels, in partnership with Solazyme Inc., has been awarded a major renewable fuel contract with the U.S Navy.

U.S. Department of Energy (DOE) researchers say they have identified a process that could lead to new methods of engineering plant oils for use in renewable chemical and biofuel production.

Solazyme Inc. (Nasdaq:SYZM), the South San Francisco-based developer of oils and alternative fuels from genetically modified algae, sold more than 11 million shares, raising $198 million in its long-awaited IPO late last week.  According to a regulatory filing, Company shares surged 15% in their first day of trading on increasing demand for renewable fuel sources and industrial chemicals.

Solazyme, Inc. (NASDAQ: SZYM), a biofuels company which also makes dietary supplements and skin care products, opened for trading today at $18 per share and jumped to more than $21 by mid-day. The company completed its initial public offering of 10,975,000 shares Thursday.

Solazyme Inc., a South San Francisco, California company that produces non-food-based biofuel, green oils and clean chemicals, last month secured US$52 million in strategic financing.

The Department of Energy (DOE) recently released a new report highlighting the benefits of the Recovery Act to small businesses throughout the clean, renewable energy industry and environmental management sector.