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Solazyme changing name to TerraVia, focusing on food

March 11, 2016
AlgaeIndustryMagazine.com

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In a radical pivot, algal fuel pioneer Solazyme Inc. will be changing its name to TerraVia™ to reflect a new focus on food, nutrition and specialty ingredients.

A pioneer in algae technology and innovation, the former Solazyme 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.

According to a company statement, “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.”

Leading investors and entrepreneurs in food, nutrition, and innovation have raised approximately $28 million to fund the transition. Jonathan Wolfson, CEO and co-founder of Solazyme, has been appointed Chairman of the Board of Directors. TerraVia will begin a search for a new CEO that aligns with the Company’s refined focus in food. Following the appointment of a new CEO, Mr. 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, has joined TerraVia’s Board of Directors.

The statement added, “With its refined focus on food, nutrition, and specialty ingredients, the Company will pursue strategic alternatives for its industrial businesses to maximize value.”

See the full story in Monday’s Buzz

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