TerraVia’s Innovative Lipid-Rich Whole Algae Ingredient Delivers Unprecedented Nutritional & Taste Benefits That Will Help ...
June 28 2016 - 8:30AM
Business Wire
New Ingredient Gains Regulatory Approval Across
the Americas (U.S., Canada, Brazil and Mexico)
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.
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AlgaVia® Lipid-Rich Whole Algae (Photo:
Business Wire)
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
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RF|BinderAtalanta Rafferty, 212-994-7511
(Media)atalanta.rafferty@rfbinder.com