In the case of Solazyme (NASDAQ:TVIA), I consider the stock a hold with the likelihood of becoming a buy during any meaningful pullbacks. Here you have a company that has hit on all of its operating goals thus far, and in a very timely fashion, but it remains to be seen if a profit can be generated.

A few things I am comforted by, however, are its revenue growth and financial stability as it aims for commercial production at multiple facilities by 2014. There have been many companies in the renewable energy space that found themselves in this exact position and are now gaining serious steam. Take Clean Energy Fuels (NASDAQ:CLNE) for example. This is a company that really took a leap in building out our country's liquefied natural gas fueling infrastructure and is now witnessing comforting buy-in from some of the largest companies in the world.

So, while returns are never a guarantee, taking a risk on a company like Solazyme can certainly lead to some tremendous gains. With that being said, this is a position to monitor closely along with the prospects for the entire industry.