Terra Via Holdings Inc fka TVIAQ

[nycrew]

04/13-TerraVia’s Algae Butter, Which Can Replace Palm Oil and Hydrogenated Oils, Receives FDA GRAS No Questions Letter

https://finance.yahoo.com/news/terravia-algae-butter-replace-palm-123000719.html

TerraVia Holdings, Inc. (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.”

About TerraVia

TerraVia Holdings, Inc. (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.