Thai Union strengthens ingredients business with investment in micro-algae producer

Thai Union Group is investing a CAD $10 million (€7.4m) in Mara Renewables Corporationas part of Mara’s CAD $39.5 million (€29.2m) growth funding round to accelerate the expansion of Mara’s portfolio of micro-algal products and unique innovation. Thai Union will appoint one representative to join Mara’s Board of Directors.

Mara, based in Nova Scotia, Canada, is one of the world’s 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.

Mara’s ingredients are approved by multiple respected regulatory bodies, and are used by leading infant nutrition, supplement and food and beverage customers worldwide, according to Than Union Group.

Thai Union added that its commitment to sustainable nutrition aligns closely with Mara’s 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 tuna oil by processing raw tuna heads through a low temperature extraction method that preserves the oil’s natural functionality.

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 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.

“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,” 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. We’re 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 Union’s established world leading position in human and pet care segments, collaborative culture, and strong leadership fits well with Mara’s ambitions of making a positive impact through our people, products and purpose.”

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