Algae-fueled company TerraVia has selected a $20m stalking horse bid from Dutch ingredients supplier Corbion in an auction for the bulk of its assets, according to documents filed with the bankruptcy court on Tuesday.
TerraVia – formerly known as Solazyme – has been telling reporters (and investors) that algae is the next big thing in food for years. But when will it really start to change the game?
Thrive culinary algae oil has proved a hit with shoppers at upmarket grocer Gelson's Market in southern California, and is now rolling out to "hundreds of stores on the west coast," says brand owner TerraVia.
Microalgae ingredients pioneer Solazyme has unveiled plans to spin off its industrial products division and focus exclusively on food, feed and personal care, under a new name: TerraVia.
Microalgae specialist Solazyme has moved into the consumer packaged goods (CPG) arena with the launch of Thrive, a culinary oil from algae that will make its debut at upmarket grocer Gelson's Markets in southern California this week.