AlgaPrime DHA Receives the 2017 Global Aquaculture Innovation Award
AlgaPrimeDHA, a sustainable, omega-3-rich whole algae ingredient produced by the joint venture partnership of Corbion, N.V. (AMS: CRBN) and Bunge Limited (NYSE: BG), has received the 2017 Global Aquaculture Innovation Award from the Global Aquaculture Alliance. The Global Aquaculture Alliance (GAA) is a leading standards-setting organization for aquaculture seafood. GAA established the award in 2012 to recognize individuals and companies finding new solutions to the key challenges facing aquaculture.
According to GAA, the 2017 Global Aquaculture Innovation Award garnered the strongest competition to date with entries from more than 10 countries. Many of the innovations, including AlgaPrime DHA, originated from the aquafeed ingredient sector.
Walt Rakitsky, Emerging Business & Corporate Account Leadership for Corbion stated, "We are extremely honored to receive this award. The Global Aquaculture Innovation Award represents the future of aquaculture, and we believe that AlgaPrime DHA is a key feed ingredient for the industry's continued growth. A new sustainable and transparent source of long-chain omega-3 DHA, AlgaPrime DHA can responsibly enhance the nutritional value of seafood, delivering an important win-win for both people and the planet."
Miguel Oliveira, Bunge's Vice President of Global Innovation, added, "Aquaculture is one of the fastest growing food production systems in the world - a market estimated to reach $200 billion annually by 2020. We're producing AlgaPrime DHA at an unprecedented scale to address this growing need, offering supply chain resilience and on demand production without the constraints of geography, seasonality and changing climate conditions."
AlgaPrimeDHA is currently produced at Corbion's and Bunge's SB Renewable Oils joint venture facility in Brazil. The facility embodies the principles of sustainable production to produce algae-based products with low carbon, water and land use impacts. Based on sugarcane feedstock, AlgaPrime DHA has a lower carbon and water footprint and higher yield per hectare than DHA produced from most other non-marine sources.
On September 29, 2017, Corbion completed the purchase of TerraVia, which included AlgaPrime DHA. San Francisco-based TerraVia has developed a microalgae platform to deliver high-value ingredients with clear benefits, such as Omega-3 oils for animal nutrition and tailored oils, structured fats and proteins for food, personal care and industrial applications. Corbion Algae Ingredients operates an R&D center and pilot facility in San Francisco, a demonstration plant in Peoria, Illinois and an industrial scale plant in Brazil in a joint venture (50.1% owned by TerraVia) with Bunge. The acquisition is expected to bring high value creation potential for Corbion.
Corbion is the global market leader in lactic acid and lactic acid derivatives, and a leading company in emulsifiers, functional enzyme blends, minerals and vitamins. We develop sustainable solutions to improve the quality of life for people today and generations to come. For over 100 years, we have been uncompromising in our commitment to safety, quality and performance. Drawing on our deep application and product knowledge, we work side-by-side with customers to make our cutting-edge technologies work for them. Our solutions help differentiate products in markets such as food, home & personal care, pharmaceuticals, medical devices and bioplastics. In 2016, Corbion generated annual sales of € 911.3 million and had a workforce of 1,684 FTE. Corbion is listed on Euronext Amsterdam. For more information: www.corbion.com
About Bunge Limited
Bunge Limited (www.bunge.com, NYSE: BG) is a leading global agribusiness and food company operating in over 40 countries with approximately 32,000 employees. Bunge buys, sells, stores and transports oilseeds and grains to serve customers worldwide; processes oilseeds to make protein meal for animal feed and edible oil products for commercial customers and consumers; produces sugar and ethanol from sugarcane; mills wheat, corn and rice to make ingredients used by food companies; and sells fertilizer in South America. Founded in 1818, the company is headquartered in White Plains, New York.
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