Solazyme Focuses Its Break through Algae Platform to Redefine the Future of Food
Company Will Be Changing Name to TerraVia™ to Reflect Focus on Food, Nutrition and Specialty Ingredients
TerraVia’s algae-based platform is poised to transform our food system by bringing together better nutrition and great taste, along with economic and environmental sustainability. As the pioneer in algae technology and innovation, the Company now has commercial scale food grade manufacturing in operation, breakthrough ingredients with regulatory clearance, and validation by established and cutting-edge consumer brands. TerraVia is positioned to capitalize on healthier eating and lifestyle trends and the accelerating demand for plant-based foods and nutrition. Leading investors and entrepreneurs in food, nutrition, and innovation invest approximately $28 million. Jonathan Wolfson, CEO and co-founder, appointed Chairman of the Board of Directors. TerraVia to begin a search for new CEO that aligns with the Company’s refined focus in food. Following appointment of a new CEO, Wolfson will remain full time with the Company as Executive Chairman. Irene Chang Britt, Former President of Pepperidge Farm and senior executive at companies and brands including Campbell Soup Company, Kraft, and Nabisco, joins TerraVia’s Board of Directors. With its refined focus on food, nutrition, and specialty ingredients, the Company will pursue strategic alternatives for its industrial businesses to maximize value.
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