TerraVia™
May 16, 2016

Thrive Algae Oil Delivers Strong Results in Retail Market Test

First Product From TerraVia's Innovative Algae Oil Platform Already Driving Sales in Top 25th Percentile of Food Oils in Retail Test, Now Beginning West Coast Roll-Out

Delivers Superior Nutrition, Smoke Point and Sustainability Profile with an Exceptionally Mild Flavor that Enhances Food's True Taste

SAN FRANCISCO--(BUSINESS WIRE)-- TerraVia™ (NASDAQ: TVIA), a next generation food, nutrition and specialty ingredients company, has developed a unique portfolio of algae oils, and reported that its Thrive® Culinary Algae Oil, the first consumer food product incubated by the Company, has successfully completed a retail market test and will be expanding its roll-out.

During the market test at Gelson's in Southern California, Thrive® Algae Oil has already achieved velocity and sales leadership with the top performing SKUs in the oil category and is now a permanent offering. Thrive® Algae Oil is currently beginning its roll out to other West Coast retailers and is available nationally on Amazon.com and at thrivealgae.com.

"We are often at the forefront of introducing new products and have been impressed by the success of Thrive® Algae Oil," said Chris Fromm, Gelson's Senior Director of Grocery Purchasing. "Within a few months, Thrive has become one of the top performing oil SKUs on our shelves, in the top 25th percentile of oil sales. We're confident that we'll see continued growth."

Thrive® Algae Oil derives from a unique portfolio of algae oils developed by TerraVia that leverage its innovative algae platform to capitalize on accelerating trends in plant-based foods and nutrition. Thrive® contains a unique combination of nutritional, culinary and sustainability benefits. With the highest level of monounsaturated fats (the good fats) and just 0.5 grams of saturated fat per serving, a light neutral taste, a high smoke point up to 485°, and an unparalleled sustainability footprint, Thrive® Algae Oil is differentiated from other food oils on the market, and it embodies TerraVia's mission of providing products that are better for both people and planet.

                 

Food Oil

 

Monounsaturated
Fat %

 

Saturated
Fat %

 

Smoke Point (°F)
Up To

 

Neutral
Flavor

Thrive® Algae Oil

 

90

 

< 4

 

485

 

YES

Olive Oil   73   14   375   No
Avocado Oil   71   12   500   No
Coconut Oil   6   87   280   No

Sources: USDA National Nutrient Database for Standard Reference, Spectrum Oil Kitchen Guide, Chosen Foods

 

"Algae oil is one of the most exciting innovations I've seen in the oil category," said Jack Davis, former CEO of Ventura Foods, the largest maker of vegetable oil-based products in the U.S. "By cooking with an oil that has a better fat profile, culinary performance and sustainability footprint, consumers and manufacturers alike will be able to take some big steps on achieving a better (and healthier) food system."

"Thrive® Algae Oil is a hit! This product's test market performance reflects its appeal to consumers on many levels: great taste, a healthier profile and a more sustainable product. It is a game changer in the market and provides retailers with an offering that meets consumer demand head on," said Phil Lempert, the Supermarket Guru®, an expert on consumer behavior and the changing retail landscape.

Reviews of Thrive® Algae Oil by consumers, nutritionists and chefs have been overwhelmingly positive. With over 130 reviews posted between Amazon.com and the Thrive® Algae Oil website, consumers rate the oil 4.8 stars out of 5. Nutritionists praise Thrive® Algae Oil as well, citing its favorable fat profile, while chefs are enamored by its light and delicate taste, high smoke point, and ability to work well in a wide variety of culinary applications.

Marisa Churchill, Celebrity Chef and Nutritionist noted, "I have been most impressed by algae oil's versatility in the kitchen. Its light and subtle flavor works amazingly in desserts, and with its high smoke point, I can get a beautiful sear on fish. With more monounsaturated fats per tablespoon than any other oil and the fact it's made sustainably, algae oil is a superfood that's headed for stardom."

"Since introducing Thrive® and creating that first taste moment, we've seen remarkably strong acceptance and are really pleased with the response we're getting from other retailers. It's still very early in Thrive's roll-out, but it's exciting to note that this product is just the first in our pipeline of innovative algae food oils," said Mark Brooks, SVP of Food & Ingredients of TerraVia.

About TerraVia

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 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: customer and consumer acceptance of Thrive® Culinary Algae Oil; the offering of Thrive® Culinary Algae Oil by retailers; the attributes of Thrive® Culinary Algae Oil, including as to nutrition, taste and environmental sustainability; and its 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 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; TerraVia's limited history in launching, commercializing and rolling-out products; commercial risk in deploying new products; its ability to successfully develop and commercialize new products; its ability to sell products at a profit and through retailers and other channels; its ability to successfully maintain relationships with partners; successful product trials by customers and market acceptance and adoption of products by customers and consumers; the ability to obtain requisite regulatory approvals for products; 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.

TerraVia
Corporate Communications:
Genet Garamendi
press@terravia.com
or
RF|Binder
Atalanta Rafferty, 212-994-7511 (Media)
atalanta.rafferty@rfbinder.com

Source: TerraVia

News Provided by Acquire Media