TerraVia’s whole algal protein gains regulatory approval from Canada

[Canada] TerraVia (NASDAQ:TVIA) a plant-based food, nutrition and specialty ingredients company today announced that Health Canada has issued an approval for its Whole Algal Protein ingredient for food use in Canada. With this approval, TerraVia has successfully achieved regulatory approval for its portfolio of AlgaVia® Whole Algae Ingredients, including AlgaVia® Whole Algal Protein and AlgaVia® Whole Algal Flour, for food use across North America.

“TerraVia continues to achieve regulatory clearance for its algae food ingredients across regulatory bodies and geographies,” said Mark Brooks, SVP, Food & Ingredients. “Health Canada’s approval of our protein-rich whole algae ingredient provides new opportunities for customers across Canada, Mexico and the United States to respond to consumer demand for food and beverages containing plant-based protein.”

AlgaVia® Protein-Rich Whole Algae is unique among plant-based proteins as it is a whole food ingredient containing over 60% vegan protein plus a rich collection of fiber, lipids and micronutrients. It’s free of known allergens, gluten-free, non-GMO and has a neutral flavor profile and texture, making it a great option for fortifying food products that meet current consumer demand.

According to Mintel’s “Alternative’s Everywhere” trend report, nearly 30 percent of Americans say they are eating more non-animal sources of protein. The growing trend toward plant-based proteins is due to the increasing popularity of vegetarian and vegan diets and demand for allergen-free protein sources. TerraVia’s AlgaVia® Protein-Rich Whole Algae can address a key market need for new, alternative plant-based proteins that are vegan and free of known allergens as well as provide an innovative solution for sustainable sources of protein.

AlgaVia® Lipid-Rich Whole Algae is a trans-fat and cholesterol free lipid powder that helps enable the creation of healthier products with satisfying taste and textures. This alternative healthier fat source can enable the reduction or full replacement of dairy fats, oil and egg yolks.

Both AlgaVia® Protein-Rich Whole Algae (whole algal protein) and AlgaVia® Lipid-Rich Whole Algae (whole algal flour) are also classified as Generally Recognized as Safe (GRAS) in compliance with US FDA regulations concerning substances for food use.

 

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