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Tengram’s Algenist Stake Could Be Sea Change For Microalgae Brand

 
• By Jamie Hammon

TerraVia will focus on food product development and ingredient supply and let Tengram Capital Partners build its Algenist skin-care and makeup brand. The latter is paying $20m for an 80% stake in the microalgae-based line and ongoing access to cosmetic-relevant TerraVia ingredients, all derived from “the mother of all plants.”

Microalgae-based skin-care and makeup brand Algenist stands to receive an infusion of marketing support and achieve “broader commercialization” under the majority ownership of Tengram Capital Partners, representing the latest in a series of transformative moves at TerraVia.

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