TerraVia and Bunge Announce Seafoodexport to Bring AlgaPrime™ DHA to EU Animal Nutrition Market
December 05 2016 - 7:00AM
Business Wire
AlgaPrime™ DHA Provides a Sustainable
Source of Omega-3s for Animal Nutrition Without Further
Depleting Marine Fish Stocks
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.
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AlgaPrime™ DHA (Photo: Business Wire)
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.
About TerraVia
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.
About Seafoodexport
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.
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RF|BinderAtalanta RaffertyAtalanta.rafferty@rfbinder.com