SAN FRANCISCO--(BUSINESS WIRE)--TerraVia™ (NASDAQ: TVIA), a next-generation food, nutrition and specialty ingredients company and pioneer in algae innovation, is pleased to announce that its AlgaVia® Lipid-Rich Whole Algae has now gained regulatory approval in Canada, Brazil, and Mexico, giving the product full approval across much of the Americas. This game-changing ingredient replaces eggs, dairy fats and oils in baked goods, traditional dairy-based products, sauces, snack foods, and more while maintaining or improving indulgent taste and texture. It is naturally rich in monounsaturated (good) fat, protein, fiber and micronutrients. The additional regulatory approvals further TerraVia’s goal of creating food ingredients that are better for people and the planet.
AlgaVia Lipid-Rich Whole Algae is enabling a new generation of food products by reducing or removing eggs and dairy, in many cases dramatically improving nutrition while providing wonderful and familiar taste and texture. Nutritional benefits of using the ingredient can include significant reductions in fat, saturated fat, trans fats, calories and cholesterol, while reducing the number of ingredients and in many cases allowing the foods to be fully plant-based. Lipid-Rich Whole Algae is gluten-free, free of known allergens, vegan, and GMO-free.
AlgaVia Lipid-Rich Whole Algae can already be found in more than 10 product categories across the grocery store. Customers range from established CPGs to popular emerging brands focused on plant-based foods. These include South Coast Baking Co., one of the leading cookie manufacturers in the U.S. “We turned to TerraVia for its Lipid-Rich Powder as an alternative to eggs in some of our cookies,” said South Coast Baking Co., a company that makes over 4 million cookies per day. “We have been so pleased with the results in creating our delicious cookies, that we have continued using it as a replacement for eggs.”
“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 Powder across every aisle of the grocery store,” said Mark Brooks, SVP and General Manager of Food Ingredients at TerraVia. Consumers are demanding more plant-based options, with the plant-based dairy alternative market already at 27% market share in 20151, and 36% of consumers buying plant-based proteins today2.
TerraVia’s Lipid-Rich Whole Algae is part of the Company’s proven portfolio of algae food ingredients and products (including AlgaVia Whole Algae Protein and AlgaWise Algae Oils) resulting from over a decade of product development focused on unlocking the power of algae, the mother of all plants, and earth’s original superfood.
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 manufacturers 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.
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; the future adoption of its ingredients; the impact of using its ingredients in products; the market opportunities for its products; its commercialization and production plans; market acceptance of its products; 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 Quarterly Report 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.