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AlgaPrime™ increases aquaculture distribution — Wolfson steps down

March 12, 2017

Jonathan Wolfson, CEO

Solazyme/TerraVia, co-founder, Chairman and previous Chief Executive Officer Jonathan Wolfson has informed the TerraVia’s Board of Directors that after more than thirteen years in a leadership role, he is stepping down as Chairman of the Board.

TerraVia, Bunge Limited and BioMar Group have announced the expansion of their distribution agreement for AlgaPrime™ DHA — a native, whole algae specialty feed ingredient high in omega-3 DHA ­— making the product commercially available at scale to salmon farmers and other participants in the aquaculture industry.

Building on successful joint aquaculture feed trials in 2016, over the past six months BioMar has significantly increased deliveries of commercial feed containing AlgaPrime™ DHA to leading salmon farmers.

Developed to reduce dependency on marine fisheries and enhance the nutritional value of seafood, AlgaPrime™ DHA is expected by the trio to be a key feed ingredient in the future of aquaculture.

“We believe AlgaPrime™ DHA will be a significant contributor to the further development of salmon products with a desirable nutritional profile. We take pride in driving the sustainability agenda of the industry and are pleased to be the first feed producer to bring this new feed ingredient to our customers while ensuring economies of scale,” said Jan Sverre Røsstad, Vice President and Head of Salmon Division at BioMar Group.

Graham Ellis, Senior Vice President, Business Development, TerraVia said, “AlgaPrime™ DHA offers a traceable and sustainable source of omega-3s. As an alternative to ingredients like fish oil and fishmeal that come from small oily fish, AlgaPrime™ DHA can help customers meet consumer and retailer demand for salmon with enhanced levels of omega-3s.”

“Produced at the TerraVia and Bunge joint venture production facility in Brazil using renewable energy and a native algae strain, AlgaPrime™ DHA allows for responsible industry growth. We’re producing it at a scale relevant to the market right now, and our expanded agreement with BioMar will help deliver on the potential of this business,” said Miguel Oliveira, Vice President, Global Innovation, Bunge Limited.

In other major news at TerraVia, co-founder, Chairman and previous Chief Executive Officer Jonathan Wolfson has informed the Company’s Board of Directors that after more than thirteen years in a leadership role, he is stepping down as Chairman of the Board, effective immediately. The Board has appointed Irene Chang Britt, a food industry veteran and current Board member, as the new Chairperson of the TerraVia Board of Directors.

Ms. Britt, former President of Pepperidge Farm, has a deep food industry background that includes key operating roles at Campbell Soup Company, Kraft Foods, and Nabisco. She joined TerraVia’s Board of Directors a year ago as they announced their transition to a food, nutrition and specialty ingredients company.

“Irene is a rock-star in the food world and I am thrilled to be handing her the reins as Board Chair, she is exactly what we need moving forward,” said Mr. Wolfson, who has agreed to remain on the Board.

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