TerraVia’s Whole Algal Protein Gains Regulatory Approval from Health Canada Expanding Whole Algae Ingredients Approval Acro...
January 09 2017 - 8:30AM
Business Wire
TerraVia (NASDAQ:TVIA) a plant-based food, nutrition and
specialty ingredients company today announced that Health Canada
has issued an approval for its Whole Algal Protein ingredient for
food use in Canada. With this approval, TerraVia has successfully
achieved regulatory approval for its portfolio of AlgaVia® Whole
Algae Ingredients, including AlgaVia® Whole Algal Protein and
AlgaVia® Whole Algal Flour, for food use across North America.
“TerraVia continues to achieve regulatory clearance for its
algae food ingredients across regulatory bodies and geographies,”
said Mark Brooks, SVP, Food & Ingredients. “Health Canada’s
approval of our protein-rich whole algae ingredient provides new
opportunities for customers across Canada, Mexico and the United
States to respond to consumer demand for food and beverages
containing plant-based protein.”
AlgaVia® Protein-Rich Whole Algae is unique among plant-based
proteins as it is a whole food ingredient containing over 60% vegan
protein plus a rich collection of fiber, lipids and micronutrients.
It’s free of known allergens, gluten-free, non-GMO and has a
neutral flavor profile and texture, making it a great option for
fortifying food products that meet current consumer demand.
According to Mintel’s “Alternative’s Everywhere” trend report,
nearly 30 percent of Americans say they are eating more non-animal
sources of protein. The growing trend toward plant-based proteins
is due to the increasing popularity of vegetarian and vegan diets
and demand for allergen-free protein sources. TerraVia’s AlgaVia®
Protein-Rich Whole Algae can address a key market need for
new, alternative plant-based proteins that are vegan and free of
known allergens as well as provide an innovative solution for
sustainable sources of protein.
AlgaVia® Lipid-Rich Whole Algae is a trans-fat and cholesterol
free lipid powder that helps enable the creation of healthier
products with satisfying taste and textures. This alternative
healthier fat source can enable the reduction or full replacement
of dairy fats, oil and egg yolks.
Both AlgaVia® Protein-Rich Whole Algae (whole algal protein) and
AlgaVia® Lipid-Rich Whole Algae (whole algal flour) are also
classified as Generally Recognized as Safe (GRAS) in compliance
with US FDA regulations concerning substances for food use.
About TerraVia
TerraVia is a plant-based 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 manufactures 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,
including as to nutrition, taste, texture and sustainability; the
future adoption of its ingredients; future demand for plant-based
foods and nutrition; the impact of using its ingredients in
products; consumer demand and the market opportunities for its
products; its commercialization and production plans; its ability
to innovate; market acceptance of its products by food producers
and consumers; 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 Annual Report on Form 10-K and its Quarterly Reports
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.
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TerraViaKatie RingerCorporate
Communicationspress@terravia.com