Massachusetts-based American International Chemical was founded 46 years ago, in the business of specialty chemical and ingredients distribution. It distributes a portfolio of nutritional ingredients ranging from botanical extracts to carotenoids to fibers.
“We’re very excited about this partnership. There are only a couple of companies in North America that provide algal Omega-3 ingredients for food, beverage and dietary supplement application,” said Ben Kelly, Managing Director of Algarithm Ingredients.
The Canadian company, spun out of parent company POS Bio-Sciences, first introduced its omega-3 ingredients at the IFT 2017 show in Las Vegas, focusing on opportunities in the plant-based functional food, nutraceutical, and beverage ingredient markets.
Increased market demand for plant-based products drove the creation of both the ingredient and the spin-off company. “We have a marketplace ready for change and we plan to be the de facto source for high value ingredients from algal oil,” CEO of POS Bio-Sciences Dale Kelly said at the time of its launch.
“We’re not the first to put omega-3s in food and beverage but we think Virun’s technology is providing something that hasn’t been done before,” Kelly added, referring to partner company Virun Nutra-Biosciences, a California based manufacturer that helped develop the product. “The market is ready for an alternative to Martek/DSM.”
On the new partnerhip, Mark Robertson, executive VP of marketing at AIC said: “Algarithm is rich in history and technical expertise in Omega-3’s. We are thrilled to have the opportunity to partner with them on their Algal Omega-3, expanding our portfolio of plant-based, non GMO products for the North American Market.”
Kelly from Algarithm added: “Our ingredients stand apart due to flavor and odor characteristics (or lack thereof) and superior stability. With our plant-based, toxin-free and sustainable ingredients, we are revolutionizing functional ingredient sourcing. This is backed by over 40 years of quality controlled and internationally recognized contract R&D and manufacturing of algal ingredients from our parent company, POS Bio-Sciences.”
US retail sales of plant-based foods and beverages rose 8.1% to $3.1 billion in the 52 weeks to August 21, FoodNavigator-USA reported, citing Nielsen data.