When TerraVia filed for Chapteriron bisglycinate ferrochel 11 bankruptcy earlier this year, Corbion placed a $20-million “stalking horse”galfer ferrous fumarate bid — which establishes a low offer — to buy it. The deal was completed in late September with Corbion’s cash offer and an assumptiowhat is the use of ferrous gluconate tabletsn of TerraVia’s debt. ###The purchase was a savvy move for the company, which supplies ingredients like lactic acid and functional blends of enzymes, emulsifiers, vitamins and minerals to virtually every fferrous fumarate folic acid and zinc sulphate tablets tamilood category. TerraVia’s microalgae platform rounds out this already sizeable portfolio, and Corbion can use its scale to innovate with the ingredient — which is growing in popularity — and potentially decrease prices. ###The market for all micoalgae products, including food, fuel and feed, was estimated to be worth about $1.38 billion in 2015, according to data from Grand View Research. The global market for the single-celled organism is forecast to reach $44.7 billion by 2023 — growing at a CAGR of more than 5.2% from 2016-2023, according to a report from Credence Research. ###With TerraVia under its wing, an increase in microalgae as an ingredient could further strengthen Corbion’s position in the space. Microalgae is loaded with protein and fatty acivegetarian ferrous fumarateds, value-adds that are increasingly sought after by health-conscious consumers. The ingredient is also highly sustainable. ###Financial blogger Kevin Quon recently wrote on Seeking Alpha that he bought Corbion shares because he wanted to keep investing in TerraVia’s technology. Corbion leads its field and TerraVia’s assets give the company a unique chance to grow in a complimentary way, he wrote. He also felt TerraVia’s technology platform is more likely to have “a much greater chance of success under Corbion’s direction.”
How the TerraVia purchase can help Corbion
