SAN FRANCISCO--(BUSINESS WIRE)--TerraVia (NASDAQ: TVIA) announced today that Thrive® Algae Oil has received the 2017 Best New Product Award, the leading consumer-voted CPG award from market research firm, BrandSpark International.
Determined by the votes and opinions of consumers who purchased the product, Thrive® Algae Oil received the 2017 Best New Product Award in the food and beverage category as the top choice for cooking oil.
Thrive® Algae Oil has the highest level of monounsaturated fat, a good fat, and the lowest amount of saturated fat compared to other cooking oils. Thrive® Algae Oil’s health credentials, light neutral taste and high smoke point (up to 485°) make it a standout selection on-shelf.
“Consumers love Thrive® Algae Oil because of its versatility in the kitchen and superior nutrition profile,” commented Mark Brooks, Senior Vice President of Food & Ingredients at TerraVia. “We’ve seen a remarkable response from consumers and retailers alike as Thrive® Algae Oil offers real benefits from a health and culinary perspective.”
With over 240 reviews and a 5 star rating on Amazon, Thrive® Algae Oil has received accolades from consumers, health experts and chefs alike. Having achieved velocity and sales leadership in the oil category at select retailers, Thrive® Algae Oil is currently expanding to markets nationwide and is available on Amazon.com.
“Thrive® Algae Oil is a game changer in the oil category and is poised to become a staple within consumers’ pantries,” commented Brooks. “We’re excited to receive the 2017 Best New Product Award and look forward to our continued work to bring Thrive® Algae Oil to consumers and supermarket shelves nationally.”
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.
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 products, including as to nutrition, culinary benefits, sustainability and uniqueness; the impact of using its products; the market opportunities for its products; market acceptance of its products by consumers; its commercialization; and TerraVia's ability to maintain its relationships with its customers and partners. When used in this press release, the words "will", "expects", "intends", “plans” 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 and products; successful initial product introductions and market acceptance of its products by customers and end-users; its ability to sell its ingredients and products at a profit; its ability to manage operational costs at production facilities; its ability to enter into and maintain strategic collaborations and partnerships; its limited experience in constructing, ramping up and operating commercial manufacturing facilities; delays related to start-up and ramp-up of production facilities; availability of consistent, reliable power and steam; 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 the companies.
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.