SAN FRANCISCO--(BUSINESS WIRE)--TerraVia (NASDAQ:TVIA), a next-generation food, nutrition and specialty ingredients company and pioneer in algae innovation, announces that its AlgaVia® Protein-Rich Whole Algae continues to gain traction among leading food manufacturers and pioneering plant-based brands. AlgaVia® Protein-Rich Whole Algae is already being incorporated into numerous products across the grocery store including bakery, snacks, beverages, and bars nationwide, such as in OLLY, Enjoy Life Foods, and K’ul Chocolate products.
AlgaVia® Protein-Rich Whole Algae is unique versus traditional plant-based proteins as it is a whole food, not a processed isolate or concentrate like pea, soy or rice, and yet contains approximately 65% vegan protein, with high protein digestibility. It also delivers dietary fiber and beneficial lipids and contains all essential amino acids. This whole food ingredient is also distinct from typical plant-based proteins because of its natural encapsulation, which helps enable food manufacturers to formulate with higher levels of protein while maintaining a food’s natural texture and consistency. AlgaVia® Protein-Rich Whole Algae is non-GMO, gluten-free and free of known allergens.
“We are super excited to be able to incorporate AlgaVia® into our new line of protein powders, including our OLLY Nourishing Smoothies that will be available in 1800 Target stores nationwide,” said OLLY CEO and Co-Founder Brad Harrington. “Delivering a more sustainable, better tasting, and highly nutritious ingredient to our customers helps us in many ways, most importantly by delivering on our key promise to our customers, which is to create incredibly helpful and delightful product experiences that inspire them to lean into healthy choices.”
“For us, taste is everything. If we can add protein to a product line and not hurt the taste at all, that’s the Holy Grail,” said Joel Warady, Chief Sales and Marketing Officer, Enjoy Life Foods, a division of Mondelez. “In addition to being free of known allergens, AlgaVia® Protein-Rich Whole Algae meets such great sustainability claims.”
According to Mintel, more Americans are demanding quality sources of plant-based proteins and 33 percent of consumers are planning to buy more vegetarian/plant-based food products in the next year.1 TerraVia is addressing a key market need for new, alternative plant-based proteins that are vegan and free of known allergens as well as providing an innovative solution for sustainable sources of protein.
“After spending over a decade looking for clean, plant-based sources of protein, I was really excited to try TerraVia’s AlgaVia® Protein-Rich Whole Algae – non-GMO, free of known allergens and ideal for formulating higher levels of protein without impacting taste and texture,” said Charles Chang, Founder & Former CEO of Vega, a division of White Wave Foods. “And finding new, sustainable sources of protein is especially important given the strain the continued growth in the world’s population will continue to place on the planet.”
TerraVia’s AlgaVia® Protein-Rich Whole Algae is part of the Company’s proven portfolio of algae food ingredients and products (including AlgaVia® Lipid-Rich Whole Algae and AlgaWise® Algae Oils) that are the result of 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 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; the market opportunities for its products; its commercialization and production plans; 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.
1 Mintel report 2015 Trends report: Alternatives everywhere! http://www.mintel.com/alternatives-everywhere
