January 24, 2017 7:27 AM ET

Chemicals

Company Overview of TerraVia Holdings, Inc.

Company Overview

TerraVia Holdings, Inc. creates and sells food, nutrition, and specialty ingredients from algae. Its platform uses microalgae to produce high-value triglyceride oils, proteins, fibers, micronutrients, and other ingredients. The company’s principal products include oils and fats; powdered ingredients, including proteins, lipids, fibers, and micronutrients; and other bio products. It also offers products, such as specialty food and nutrition ingredients, animal nutrition ingredients, and specialty personal care ingredients, as well as consumer-focused food products. The company was formerly known as Solazyme, Inc. and changed its name to TerraVia Holdings, Inc. in March 2016. TerraVia Holdings...

225 Gateway Boulevard

South San Francisco, CA 94080

United States

Founded in 2003

229 Employees

Phone:

650-780-4777

Fax:

650-989-6700

Key Executives for TerraVia Holdings, Inc.

Co-Founder and Executive Chairman
Age: 45
Total Annual Compensation: $426.5K
Chief Financial Officer and Chief Operating Officer
Age: 45
Total Annual Compensation: $407.1K
Chief Legal Officer, General Counsel and Corporate Secretary
Age: 53
Total Annual Compensation: $303.1K
Chief Technology Officer
Age: 52
Total Annual Compensation: $335.4K
Compensation as of Fiscal Year 2015.

TerraVia Holdings, Inc. Key Developments

Terravia Holdings, Inc. Reaffirms Revenue Guidance for the Fourth Quarter of 2016

Terravia Holdings, Inc. reaffirmed revenue guidance for the fourth quarter of 2016. For the quarter the company reported revenue to be roughly flat with third quarter levels of $4.3 million.

The Law Offices of Vincent Wong Reminds Investors of a Class Action Involving TerraVia Holdings, Inc. and a Lead Plaintiff Deadline of January 17, 2017

The Law Offices of Vincent Wong announced that a class action lawsuit has been commenced in the USDC for the Northern District of California on behalf of investors who purchased TerraVia Holdings, Inc. securities between August 8, 2016 and November 7, 2016. According to the complaint, during the Class Period, TerraVia made false and/or misleading statements and/or failed to disclose: that the company’s products caused gastrointestinal distress, such as nausea and vomiting; and as a result, statements about TerraVia’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis at all relevant times. On November 7, 2016, Bloomberg published an article alleging that an algal flour ingredient provided by TerraVia causes consumers to become sick, and that Rosa Foods will be removing the ingredient altogether from its product formulations by early 2017. When this information was released, shares of TerraVia declined in value, causing investors harm.

Terravia’s Whole Algal Protein Gains Regulatory Approval from Health Canada Expanding Whole Algae Ingredients Approval Across North America

TerraVia 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. 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. 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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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
August 4, 2016
TerraVia Holdings, Inc., Algenist
Private Placement
March 10, 2016
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