Algae Butter Is A Revolutionary New Structuring Fat For Use in Bakery,
Spreads, and Confectionery
SAN FRANCISCO--(BUSINESS WIRE)--
TerraVia Holdings, Inc. (NASDAQ:TVIA) announced today that it has
received a generally recognized as safe (GRAS) no questions letter from
the U.S. Food and Drug Administration for its Algae Butter. This
response paves the way for commercialization of this revolutionary
structuring fat through its joint venture partner, Bunge North America.
Algae Butter is a palm-free, non-hydrogenated, vegan solution for
bakery, spreads and confectionery applications. It delivers outstanding
performance and enhanced sensory experience due to its quick melting
feature. It also provides clean taste and can reduce saturated fat by up
to 50 percent in most applications.
"The food industry has been searching for a replacement for palm and
hydrogenated vegetable oils that maintains quality, taste and
functionality and also meets their rigorous criteria for sustainable
sourcing," said Mark Brooks, Senior Vice President, TerraVia. "We
believe Algae butter is a game changer for the structuring fats industry
in terms of sustainability and nutrition."
Algae Butter is exclusive to TerraVia and Bunge. It will be produced by
the TerraVia and Bunge joint venture, SB Oils, and marketed in the U.S.
by Bunge North America.
"We are excited to be offering this innovative solution as an additional
choice to our foodservice and food processor customers in the U.S.,"
said Mark Stavro, senior director of marketing, Bunge North America.
"The potential of the product to meet so many on trend demands has been
met with strong levels of interest from a number of our food customers."
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 algae butter ingredient,
including as to its properties, nutrition, performance and
sustainability; the ability of the ingredient to be incorporated into
applications and to enable certain results in those applications; the
future adoption of its ingredient; future demand for plant-based foods
and nutrition; the impact of using its ingredients in products;
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.
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TerraVia Holdings, Inc.
Source: TerraVia Holdings, Inc.
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