TerraVia’s financial results, announced last week for the second quarter of 2016, reflect progress in the company’s transition to food, nutrition and specialty ingredients, offset by the impacts of selling a majority interest in skin care line Algenist to Tengram Capital Partners.
In this video interview segment with FoodNavigator-USA editor Elaine Watson, at the 2016 IFT show in Chicago last month, TerraVia CEO Jonathan Wolfson – who is about to hand control of TerraVia over to new CEO Apu Mody — discusses the history of Solazyme’s involvement with the food sector of the algae industry, and why this has become his renamed company’s current focus.
“I believe that the last five months since our announced transition to TerraVia have been the most productive in the company’s history,” Mr. Wolfson said last week. “Our second quarter progress in commercialization, production and product development, combined with the Algenist transaction and appointment of Apu Mody as our next CEO, puts us firmly on course to becoming a leader in food and ingredients leveraging our breakthrough algae platform. We are excited about the opportunities we see to serve demand for healthier and more sustainable food and ingredient alternatives that are better for people and the planet.”