BANGKOK – WEBWIRE – Wednesday, May 18, 2022
Thai Union Group PCL (Thai Union) today announced a CAD $10 million investment in Mara Renewables Corporation (Mara) as part of Maras CAD $39.5 million growth funding round. Thai Union joins other industry-leading financial partners to accelerate the expansion of Maras proven portfolio of micro-algal products and unique innovation. Thai Union will appoint one representative to join Maras Board of Directors.
Mara, based in Nova Scotia, Canada, is one of the worlds leading producers of sustainably grown algae-based bio-products. Since its inception in 2012, Mara has successfully built a portfolio of micro-algal strains, some of which are processed using a clean, environmentally-friendly extraction method into high quality algal oil. The plant-based oil offers a non-GMO vegan option for DHA-rich omega-3 fatty acids for human nutrition. Maras ingredients are approved by multiple respected regulatory bodies, and are used by leading infant nutrition, supplement and food and beverage customers worldwide.
Thai Unions commitment to sustainable nutrition aligns closely with Maras mission. In 2018, Thai Union started its Ingredients business to transform its co-products from fish processing into natural ingredients for human nutrition. It creates highest quality tuna oil by processing raw tuna heads through a low temperature extraction method that preserves the oils natural functionality. Thai Unions tuna oil contains the highest DHA omega-3 fatty acids content compared to other fish sources.
Together with Mara, Thai Union is actively working to create more choices in the market for omega-3 fatty acids and expanding the reach of this critical nutritional element, from both algal and tuna-based sources. The investment creates opportunities for both companies to accelerate growth through cooperation in go-to-market, research and development and operations. Mara is exploring, for example, refining its crude algal oil at Thai Unions state-of-the-art oil refinery in Rostock, northern Germany. Thai Union has also already been cooperating with Mara in Thai Unions Omega-3 Center of Excellence at their headquarters in Samut Sakhon by performing successful trials using Maras crude algal oil. Together, the two companies are well-positioned to serve the growing demand for omega-3-rich products.
As an industry leader in innovation and sustainability, we are committed to our Ingredients business which valorizes our co-products into natural and nutritional ingredients such as DHA-rich tuna oil, said Thiraphong Chansiri, President and CEO of Thai Union. 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. Were excited to partner with Mara and together provide nutritious and sustainably sourced DHA omega-3 fatty acids to consumers worldwide.
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. Thai Unions established world leading position in human and pet care segments, collaborative culture, and strong leadership fits well with Maras ambitions of making a positive impact through our people, products and purpose.
About Thai Union
Thai Union Group PCL is the worlds seafood leader, bringing high quality, healthy, tasty and innovative seafood products to customers across the world for 45 years.
Today, Thai Union is regarded as one of the worlds leading seafood producers and is one of the largest producers of shelf-stable tuna products with annual sales exceeding THB 141.0 billion (US$ 4.5 billion) and a global workforce of more than 44,000 people who are dedicated to pioneering sustainable, innovative seafood products.
The companys global brand portfolio includes market-leading international brands such as Chicken of the Sea, John West, Petit Navire, Parmentier, Mareblu, King Oscar, and Rügen Fisch, Thai-leading brands SEALECT, Fisho, Qfresh, Monori, OMG Meat, Bellotta and Marvo, and ingredient and supplement brands UniQ®BONE, UniQ®DHA and ZEAvita.
As a company committed to innovation and globally responsible behavior, Thai Union is proud to be a member of the United Nations Global Compact, and a founding participating company of the International Seafood Sustainability Foundation (ISSF). In 2015, Thai Union introduced its SeaChange® sustainability strategy. Find out more at seachangesustainability.org. Thai Unions on-going work on sustainability issues was recognized when the company was listed on the Dow Jones Sustainability Indices (DJSI) for the eighth consecutive year in 2021 and ranked number two in the world on the Food Products Industry Index. Thai Union was also named to the FTSE4Good Emerging Index for the fifth straight year in 2020.
About Mara Renewables
Mara Renewables Corporation (Mara) provides sustainable plant-based nutritional and nutraceutical ingredients for human health. Our global teams span Canada and the UK, with headquarters in Dartmouth, NS.
Since our inception in 2012, we have built a broad portfolio of patented technology, demonstrated world-class expertise in engineering and commercialized a high-quality algal omega-3 platform. We are honored to serve leading health and sustainability focused companies and brands across the globe. Our mission is to enable a more sustainable future through plant-based technology and advance food and health security across the globe.