Click here for more information about Algenuity
Click here for more information about Liqofluxphenometrics515R1
Visit cricatalyst.com!Evodos Separation Technology Check out more of The Buzz spacer

Corbion approved as highest bidder for TerraVia

September 17, 2017
AlgaeIndustryMagazine.com

Following an auction process, TerraVia Holdings and its affiliated debtors have determined that Corbion had submitted the best bid for substantially all of the assets of TerraVia, a food and specialty ingredients company centered on ingredients derived from microalgae. On September 15, 2017, the United States Bankruptcy Court for the District of Delaware approved Corbion the successful bidder and authorized TerraVia, formerly Solazyme, to consummate the sale to Corbion.

Corbion’s offer in the auction is approximately US$20 million in cash. Completion is subject to customary closing conditions and regulatory approvals and full performance by the parties of all obligations under the agreement, and is expected to occur within 2-3 weeks.

TerraVia filed a voluntary petition under Chapter 11 of the U.S. Bankruptcy Code on August 2, 2017. On that same day, Corbion announced it had entered into a “stalking horse” stock and asset purchase agreement with TerraVia, that constituted the primary bid in a sale process to be conducted under Section 363 of the U.S. Bankruptcy Code, which included an auction process.

Corbion is a global food ingredient supplier for leading food manufacturers in the markets of meat, beverage, bakery, confectionery, and dairy. They operate two lines of business: Biobased Ingredients and Biobased Innovations. The Biobased Ingredients business unit focuses on ingredients for food and biochemicals.

The company’s biobased chemicals offer improved functional performance, production efficiency, and safety. They are manufactured from renewable resources, and use advanced and resource-efficient fermentation processes that provide a sustainable alternative to fossil-based chemicals for customers operating across a wide spectrum of industries, including medical biomaterials, plastics, pharma, electronics, home and personal care, agriculture, coatings, adhesives, solvents, and animal health.

In 2016, Corbion generated annual sales of € 911.3 million and had a workforce of 1684. Corbion is listed on Euronext Amsterdam.

More Buzz…

HOME A.I.M. Archives

Copyright ©2010-2018 AlgaeIndustryMagazine.com. All rights reserved. Permission required to reprint this article in its entirety. Must include copyright statement and live hyperlinks. Contact editorial@algaeindustrymagazine.com. A.I.M. accepts unsolicited manuscripts for consideration, and takes no responsibility for the validity of claims made in submitted editorial.

twittertopbarlinks_eventstopbarlinks_requesttopbarlinks_archives

From The A.I.M. Archives

— Refresh Page for More Choices
If we built a Green Friendship Bridge composed of 8,600 algae microfarms given to Mexican and Central American farmers in lieu of 1%, (13 miles) of additional border wall...
Judy Siegel-Itzkovich writes in the Jerusalem Post that Dr. Iftach Yacoby and his research team at Tel Aviv University, in Israel, have genetically altered microalgae to ...
For plants and algae that carry on photosynthesis, light can be too much of a good thing. On a bright, sunny day, a plant might only be able to utilize 20 percent or less...
Since hydrogen fuel cells produce electricity, we are increasingly thinking about hydrogen as a successor to crude oil. But where will the hydrogen come from? Its ecologi...
Discovering which algae species is best suited to make biofuel is no small task. Researchers have tried to evaluate algae in test tubes, but often find lab results don’t ...
Essen, Germany-based Evonik, and Royal DSM, headquartered in Kaiseraugst, Switzerland, have announced their intention to establish a joint venture for omega-3 fatty acid ...
Matt Stultz writes in MakeZine.com about Algix’ unique 3-D printing filament created with a combination of algae and Polylactic Acid (PLA) – a biodegradable thermoplastic...
Monica Jain of Fish 2.0 writes in National Geographic about how the algae brand is about to undergo an image makeover, and may soon seem flat-out glamorous — once again. ...
The recent announcement by the U.S. Department of Energy (DOE) of three projects to receive up to $8 million, aimed at reducing the costs of producing algal biofuels and ...
Memory Maninga reports for Zambia Daily Mail that in Mansa, the capital of the Luapula Province of Zambia, spirulina is being grown in ponds in the communities because of...
Malaysia-based Algaetech International, a pioneer algae technology company specializing in R&D, as well as production and commercialization of algae-derived high ...
Watertechonline.com reports that the All-Gas project in the El Torno treatment plant in Chiclana, in southwestern Spain, in the province of Cádiz, has started its demonst...