San Francisco-based Solazyme, Inc. has reportedly filed a $100 million initial public offering (IPO) in a move that makes it one of the first biofuel companies using algae to list on a major stock exchange. Using a genetically modified strain of algae that feeds on sugar during fermentation, Solazyme produces oils and biomaterials for biofuel production and for products including clean fuels, chemicals, cosmetics, and food. The company is also reportedly collaborating to develop its algal oils for next-generation, bio-based dielectric insulating fluids for transformers and other electrical applications, and jet fuel. See Reuters, March 15, 2011.