Solazyme, a South San Francisco company developing biofuels and health products from microalgae, has raised $5 million in debt from BlueCrest Capital Finance, the companies said today.

From a statement:

“The company’s biodiesel and biocrude products address an immensely large and expanding market need for clean energy solutions, and we are impressed with the team’s ability to leverage their algae expertise into industrial chemicals, cosmetics and nutraceuticals.”

The company’s products in the clean energy sector include biodiesel and biocrude products, and in the health/wellness arena the company manufactures cosmetics and nutraceuticals. The company integrates expertise in microalgae genetics with process development and large scale biomanufacturing technology to exploit novel and robust biochemical pathways in microalgae.”