Plant-Based Food Innovation with Univar and TerraVia
February 13 2017 - 8:30AM
Business Wire
TerraVia (NASDAQ:TVIA) and Univar, a distributor of food
ingredients and provider of value-added services across Europe
Middle East and Africa (EMEA), announced today a distribution
agreement across Europe for the AlgaVia® brand of Whole Algae
Ingredients.
“TerraVia’s innovative portfolio of products and company culture
complement Univar’s approach and direction,” commented Simon
Atkins, EMEA Industry Director, Univar Food Ingredients. “This
portfolio will enable our customers to manufacture the next
generation of food products to support the most important food
trends that we see in the marketplace in 2017 and beyond.”
TerraVia’s product lines include Lipid-Rich Whole Algae and
Protein-Rich Whole Algae. Lipid-Rich Whole Algae is available in
golden and cream varieties, which can replace eggs and dairy fats
in a wide range of applications including bakery, beverages and
desserts. The removal of the animal-derived components can reduce
calories, cholesterol and saturated fat, whilst maintaining the
desired taste, mouth-feel and texture of the end product.
Protein-Rich Whole Algae, which contains 63 percent protein and has
a high digestibility of 88 percent, contains all essential amino
acids and six times the arginine levels of standard whey. Suitable
applications for the ingredient include, but are not limited to,
beverages, bakery and snacks for protein enrichment purposes.
"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 and Protein-Rich
Whole Algae ingredients across every aisle of the grocery store,"
said Mark Brooks, SVP and General Manager of Food Ingredients at
TerraVia. “The relationship enhances our ability to serve the
European markets and provide plant-based allergen-free ingredients
to brands and consumers throughout the regions.”
About TerraVia Holdings, Inc
TerraVia Holdings, Inc. (NASDAQ:TVIA) 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 more information about TerraVia, visit
www.terravia.com.
About Univar Inc.
Founded in 1924, Univar Inc. (NYSE:UNVR) is a global distributor
of specialty and basic chemicals from more than 8,000 producers
worldwide. Univar operates more than 800 distribution facilities
throughout North America, Western Europe, the Asia-Pacific region,
and Latin America, supported by a global network of sales and
technical professionals. With a broad portfolio of products and
value-added services, and deep technical and market expertise,
Univar delivers the tailored solutions customers need through one
of the most extensive chemical distribution networks in the world.
Univar is Chemistry DeliveredSM. For more information about Univar,
visit www.univar.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 color; the future
adoption of 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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170213005327/en/
TerraVia Holdings, Inc.Katie RingerCorporate
Communicationspress@terravia.comorUnivar Inc.Abigail Dillon, +44
(0) 7831 378 908Abigail.Dillon@univar.com