SAN FRANCISCO--(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.
