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.
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TerraVia Holdings, Inc.
Abigail Dillon, +44 (0) 7831 378 908
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