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
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.
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Food Oil
|
|
Monounsaturated Fat %
|
|
Saturated Fat %
|
|
Smoke Point (°F) Up To
|
|
Neutral Flavor
|
Thrive® Algae Oil
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|
90
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<4
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485
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YES
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Olive Oil
|
|
73
|
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14
|
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375
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No
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Avocado Oil
|
|
71
|
|
12
|
|
500
|
|
No
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Coconut Oil
|
|
6
|
|
87
|
|
280
|
|
No
|
Sources: USDA National Nutrient Database for Standard Reference,
Spectrum Oil Kitchen Guide, Chosen Foods
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“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.
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