Thai Union has announced an investment of CAD $10 million (€7.41 million) in Mara Renewables Corporation.
The biotechnology company, introduced in 2012, is based in Dartmouth, Canada.
Mara has developed micro-algal strains that are processed using an environmentally-friendly extraction method into plant-based oil. This oil offers a non-GMO vegan option for DHA-rich omega-3 fatty acids for human nutrition.
Mara is exploring the possibility of refining its crude algal oil at Thai Union’s oil refinery in Rostock, northern Germany.
Thai Union launched its ingredients business in 2018. It processes raw tuna heads through a low temperature extraction method and preserves the highest DHA omega-3 fatty acids content.
Thai Union has also been performing successful trials using Mara's crude algal oil in Samut Sakhon.
Commenting, Thiraphong Chansiri, President and CEO of Thai Union said, “As an industry leader in innovation and sustainability, we are committed to our Ingredients business which valorises our co-products into natural and nutritional ingredients such as DHA-rich tuna oil.
“Our strategic partnership with Mara further builds on this business by creating opportunities to jointly expand our product portfolios, grow our global presence, and accelerate go-to-market initiatives. We’re excited to partner with Mara and together provide nutritious and sustainably sourced DHA omega-3 fatty acids to consumers worldwide.”
Elsewhere, Arturo Ania, CEO of Mara said, “Mara is very excited to solidify a partnership with Thai Union. Our two companies share maritime roots, a passion for science-based nutrition and a vision for a more sustainable food system."
© 2022 European Supermarket Magazine – your source for the latest technology news. Article by Nikita Naz Siddique. Click subscribe to sign up to ESM: European Supermarket Magazine.