TerraVia’s Innovative Lipid-Rich Whole Algae Ingredient Delivers Unprecedented Nutritional and Taste Benefits That Will Help Accelerate Plant-Based Eating Trends
New Ingredient Gains Regulatory Approval Across the Americas (U.S.,
Canada, Brazil and Mexico)
SAN FRANCISCO–(BUSINESS WIRE)–TerraVia™ (NASDAQ: TVIA), a next-generation food, nutrition and
specialty ingredients company and pioneer in algae innovation, is
pleased to announce that its AlgaVia® Lipid-Rich Whole
Algae has now gained regulatory approval in Canada, Brazil, and Mexico,
giving the product full approval across much of the Americas. This
game-changing ingredient replaces eggs, dairy fats and oils in baked
goods, traditional dairy-based products, sauces, snack foods, and more
while maintaining or improving indulgent taste and texture. It is
naturally rich in monounsaturated (good) fat, protein, fiber and
micronutrients. The additional regulatory approvals further TerraVia’s
goal of creating food ingredients that are better for people and the
planet.
AlgaVia Lipid-Rich Whole Algae is enabling a new generation of food
products by reducing or removing eggs and dairy, in many cases
dramatically improving nutrition while providing wonderful and familiar
taste and texture. Nutritional benefits of using the ingredient can
include significant reductions in fat, saturated fat, trans fats,
calories and cholesterol, while reducing the number of ingredients and
in many cases allowing the foods to be fully plant-based. Lipid-Rich
Whole Algae is gluten-free, free of known allergens, vegan, and GMO-free.
AlgaVia Lipid-Rich Whole Algae can already be found in more than 10
product categories across the grocery store. Customers range from
established CPGs to popular emerging brands focused on plant-based
foods. These include South Coast Baking Co., one of the leading cookie
manufacturers in the U.S. “We turned to TerraVia for its Lipid-Rich
Powder as an alternative to eggs in some of our cookies,” said South
Coast Baking Co., a company that makes over 4 million cookies per day.
“We have been so pleased with the results in creating our delicious
cookies, that we have continued using it as a replacement for eggs.”
“With the accelerating growth of plant-based foods, driven by consumer
demand for clean labels and healthier foods with great taste, there are
opportunities for our Lipid-Rich Powder across every aisle of the
grocery store,” said Mark Brooks, SVP and General Manager of Food
Ingredients at TerraVia. Consumers are demanding more plant-based
options, with the plant-based dairy alternative market already at 27%
market share in 20151, and 36% of consumers buying
plant-based proteins today2.
TerraVia’s Lipid-Rich Whole Algae is part of the Company’s proven
portfolio of algae food ingredients and products (including AlgaVia
Whole Algae Protein and AlgaWise Algae Oils) resulting from over a
decade of product development focused on unlocking the power of algae,
the mother of all plants, and earth’s original superfood.
About TerraVia™
TerraVia™ is a next-generation food, nutrition and specialty ingredients
company that harnesses the power of algae, the mother of all plants and
earth’s original superfood. With a portfolio of breakthrough ingredients
and manufacturing, the Company is well positioned to help meet the
growing need of consumer packaged goods and established and emerging
food manufacturers to improve the nutritional profile of foods without
sacrificing taste, and to develop select consumer brands. The Company
also manufacturers a range of specialty personal care ingredients for
key strategic partners. Headquartered in South San Francisco, the
Company’s mission is to create products that are truly better for people
and better for the planet. For additional information, please visit
TerraVia’s website at www.terravia.com.
Forward-Looking Statements
This press release contains certain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
about TerraVia, including statements that involve risks and
uncertainties concerning: the attributes of its ingredients; the future
adoption of its ingredients; the impact of using its ingredients in
products; the market opportunities for its products; its
commercialization and production plans; market acceptance of its
products; and TerraVia’s ability to maintain its relationships with its
partners. When used in this press release, the words “will,” “can,”
“anticipate,” “intends” and other similar expressions and any other
statements that are not historical facts are intended to identify those
assertions as forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Any such statement may
be influenced by a variety of factors, many of which are beyond the
control of TerraVia, that could cause actual outcomes and results to be
materially different from those projected, described, expressed or
implied in this press release due to a number of risks and
uncertainties. Potential risks and uncertainties include, among others:
TerraVia’s limited operating history; its limited history in
commercializing products; implementation risk in deploying new
technologies; its limited experience in constructing, ramping up and
operating commercial manufacturing facilities; its ability to sell its
products at a profit; delays related to start-up and ramp-up of
production facilities; its ability to manage operational costs at
production facilities; its ability to enter into and maintain strategic
collaborations; successful product trials by its customers and market
acceptance of its products by end-users; its ability to obtain requisite
regulatory approvals; and its access, on favorable terms, to any
required financing. Accordingly, no assurances can be given that any of
the events anticipated by the forward-looking statements will transpire
or occur, or if any of them do so, what impact they will have on the
results of operations or financial condition of TerraVia.
In addition, please refer to the documents that TerraVia Holdings, Inc.
files with the Securities and Exchange Commission, including its
Quarterly Report on Form 10-Q, as updated from time to time, for a
discussion of these and other risks. You are cautioned not to place
undue reliance on forward-looking statements, which speak only as of the
date of this press release. TerraVia is not under any duty to update any
of the information in this press release.
1 – http://www.mintel.com/press-centre/food-and-drink/meat-alternatives-market-trend
2 – http://www.marketsandmarkets.com/PressReleases/dairy-alternative-plant-milk-beverages.asp
Contacts
RF|Binder
Atalanta Rafferty, 212-994-7511 (Media)
atalanta.rafferty@rfbinder.com
