SAN FRANCISCO & WHITE PLAINS, N.Y.--(BUSINESS WIRE)--TerraVia Holdings, Inc. (NASDAQ:TVIA) (“TerraVia”) and Bunge Limited (NYSE:BG) (“Bunge”) announced today that Seafoodexport, one of the largest distributors of fish oil to the European pet food industry, will act as a distributor of AlgaPrime™ DHA, a native whole algae source of omega-3s and a sustainable specialty feed ingredient, in the European pet and production animal segment. DHA, docosahexaenoic acid, is an essential long chain omega-3 fatty acid that plays a critical role in supporting the healthy development of humans and animals.
To meet demand for omega-3s in the pet food and production animal feed markets, sustainable and responsibly sourced alternatives are urgently needed to augment ingredients currently produced from wild marine fish stocks. AlgaPrime™ DHA provides a sustainable, scalable and economically viable source of omega-3s with virtually no environmental contaminants or heavy metals. As an alternative to ingredients like fish oil and oils present in fish meal produced from forage fish, AlgaPrime™ DHA can ease the industry’s reliance on wild fish capture and help preserve the ocean environment by reducing depletion of small marine fish.
“The European pet food industry uses more than 50,000 metric tons of high quality fish oil each year,” said David Sussmann, President of Seafoodexport. “As demand increases for wild marine fish stocks, Seafoodexport sees AlgaPrime™ DHA as a critical ingredient in feed formulations that will allow continued sustainable growth in the industry.”
“Global demand for omega-3s is growing in aquaculture, human and in animal nutrition markets,” added Graham Ellis, Senior Vice President, TerraVia.“On a DHA basis, one metric ton of AlgaPrime™ DHA is the equivalent of saving up to 40 metric tons of wild caught fish from our oceans. Providing this new, cost effective and sustainable source of omega-3s helps address this broad and growing demand.”
AlgaPrime™ DHA is currently being made at scale in TerraVia and Bunge’s SB Renewable Oils joint venture facility in Brazil. The facility embodies the principles of sustainable production to produce algae-based products with low carbon, water and land use impacts. Based on sugarcane feedstock, AlgaPrime™ DHA has a lower environmental impact and higher yield per hectare than DHA produced from other microalgae sources or high-DHA oil seed crops.
TerraVia 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 35,000 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.
Seafoodexport (www.seafoodexport.com) is specialized in the production, distribution and sales of seafood and fish oils on a global scale. Based in Marseille in the heart of the Mediterranean and strengthened by our partnerships with more than 40 production centers and fishing vessels throughout the world, we export to over 60 countries and are one of the leaders in our sector.
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 that involve risks and uncertainties 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 pet food; the ability of AlgaPrime DHA production to help preserve the marine environment; growing demand for omega-3s; the attributes of AlgaPrime DHA, including as to omega-3 content and cost-effectiveness, its ability to reduce reliance on wild fish and save wild fish; the environmental impact of the production facility; market acceptance of products; 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; 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.