ShapeShapeauthorShapecrossShapeShapeShapeGrouphamburgerhomeGroupmagnifyShapeShapeShaperssShape

Sponsor message

As a pioneer in the aquaculture industry,
INVE has always been about enabling growth

Algal giant files for bankruptcy

07 August 2017, at 9:06am

TerraVia Holdings Inc, which is best known in the aquaculture industry for its production of the omega-3 rich feed ingredient AlgaePrime DHA, filed for bankruptcy last week.

Together with Brazilian company Bunge, TerraVia had established a joint algal production venture that has enabled BioMar to include algal oils in its salmon feeds. Customers for the feed ingredient, which is marketed as a sustainable alternative to fish oil, with a high content of the long chain omega-3 DHA, include salmon producers Ventisqueros and Lerøy.

Corbion, a Dutch firm, has been linked with a $20 million deal for TerraVia’s assets, which include an R&D center in San Francisco, and two manufacturing facilities: one wholly-owned in Peoria, Illinois and one in Brazil in a joint venture (50.1% owned by TerraVia) with Bunge. The acquisition of TerraVia's microalgae platform would extend Corbion's product portfolio into algae-based fatty acids and proteins, while leveraging Corbion's extensive fermentation and downstream processing capabilities.

TerraVia anticipates that a sale will be completed within 60 to 90 days. The company claims that the sale process should have no material impact on its ability to fulfill its obligations to its customers and employees.

Senior Editor at The Fish Site
Learn more
Sponsor message

The growth story of Nireus, Greece

Like all Mediterranean producers, Nireus has a strong need to market their product as fresh, affordable and high quality fish, with traceability as an important asset. Building a stable future for the company on both technical and business knowledge, Nireus realizes that a healthy economy in aquaculture can only be built on healthy fish.

Discover more growth stories