Solazyme shifts to specialty food

Algal products maker Solazyme will divest its business in industrial chemicals and biofuels and focus instead on food, nutrition, and personal care ingredients. In keeping with its new emphasis, the firm has changed its name to TerraVia. The company’s portfolio will be headlined by lipid-rich flours, protein powders, and cooking oils derived from algae. It will continue to market algal oils to the personal care industry, including through its recently renewed partnership with Unilever. A group of food industry investors will provide $28 million in financing. CEO Jonathan Wolfson, a Solazyme cofounder, will be replaced by an executive with food industry experience. Wolfson has been named chairman of the board.