Success of AlgaPrime™ DHA in Aquaculture Market Drives Increased Commercial Distribution
March 08 2017 - 4:01PM
Business Wire
Expansion of Agreement with BioMar Signals
Further Industry Adoption
TerraVia (NASDAQ: TVIA), Bunge Limited (NYSE:BG) (“Bunge”) and
BioMar Group (“BioMar”) today announced the expansion of their
distribution agreement for AlgaPrime™ DHA – a native, whole algae
specialty feed ingredient high in omega-3 DHA – making the product
commercially available at scale to salmon farmers and other
participants in the aquaculture industry.
Building on successful joint aquaculture feed trials in 2016,
over the past six months BioMar has significantly increased
deliveries of commercial feed containing AlgaPrime™ DHA to leading
salmon farmers.
Developed to reduce dependency on marine fisheries and enhance
the nutritional value of seafood, AlgaPrime™ DHA is expected to be
a key feed ingredient in the future of aquaculture.
“We believe AlgaPrime™ DHA will be a significant contributor to
the further development of salmon products with a desirable
nutritional profile. We take pride in driving the sustainability
agenda of the industry and are pleased to be the first feed
producer to bring this new feed ingredient to our customers while
ensuring economies of scale,” said Jan Sverre Røsstad, Vice
President and Head of Salmon Division at BioMar Group.
Graham Ellis, Senior Vice President, Business Development,
TerraVia said, “AlgaPrime™ DHA offers a traceable and sustainable
source of omega-3s. As an alternative to ingredients like fish oil
and fishmeal that come from small oily fish, AlgaPrime™ DHA can
help customers meet consumer and retailer demand for salmon with
enhanced levels of omega-3s.”
“Produced at the TerraVia and Bunge joint venture production
facility in Brazil using renewable energy and a native algae
strain, AlgaPrime™ DHA allows for responsible industry growth.
We're producing it at a scale relevant to the market right now, and
our expanded agreement with BioMar will help deliver on the
potential of this business," said Miguel Oliveira, Vice President,
Global Innovation, Bunge Limited.
About TerraVia
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 additional
information, please visit TerraVia’s website
at www.terravia.com.
About Bunge Limited
Bunge Limited (www.bunge.com, NYSE:BG) is a leading global
agribusiness and food company operating in over 40 countries with
approximately 32,000 employees. Bunge buys, sells, stores
and transports oilseeds and grains to serve customers worldwide;
processes oilseeds to make protein meal for animal feed and edible
oil products for commercial customers and consumers; produces sugar
and ethanol from sugarcane; mills wheat, corn and rice to make
ingredients used by food companies; and sells fertilizer
in South America. Founded in 1818, the company is
headquartered in White Plains, New York.
About BioMar
BioMar Group is a leading supplier of high performance feed to
the global aquaculture industry. Currently, BioMar produces feed at
factories in Norway, Chile, Denmark, Scotland, Spain, France,
Greece, Costa Rica, Turkey, and China. Worldwide, the BioMar Group
supplies feed to around 80 countries and for more than 45 different
species. The BioMar Group is wholly owned by the Danish industrial
group Schouw & Co, which is listed on the Copenhagen Stock
Exchange. Learn more on www.biomar.com
Forward Looking Statements
This press release contains certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995, including statements about TerraVia that involve
risks and uncertainties concerning: the timing, cost and
scalability of production and distribution and sales of AlgaPrime™
DHA and its economic viability and environmental impact; the
ability of AlgaPrime™ DHA to address demand for omega-3s, including
for use in salmon feed; incorporation rates of AlgaPrime™ DHA into
commercial feed by feed formulators and producers; growing demand
for omega-3s; the attributes of AlgaPrime™ DHA, including as to
omega-3 content; the ability of AlgaPrime™ DHA to contribute to
and/or enhance the nutritional value of seafood, including salmon
products; the environmental impact of the production facility;
market acceptance of products; the entry of SB Oils into a
definitive distribution agreement with BioMar and the business
results therefrom; and the ability to maintain relationships with
partners. When used in this press release, the words "will",
"expects", "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 the companies, 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 commercializing products;
implementation risk in deploying new technologies; its limited
experience in constructing, ramping up and operating commercial
manufacturing facilities; delays related to start-up and ramp-up of
production facilities and new products; commercial risk in
deploying new products; its ability to successfully develop and
commercialize new products; its ability to sell products;
successful product trials by customers and market acceptance and
adoption of products by end-users and consumers; the ability to
obtain requisite regulatory approvals for products; its access, on
favorable terms, to any required financing; and availability of
consistent, reliable power and steam. 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.
In addition, please refer to the documents that TerraVia
Holdings, Inc. files with the Securities and Exchange
Commission, including its Quarterly Reports on Form 10-Q and its
Annual Report on Form 10-K, 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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