The Bill and Melinda Gates Foundation has announced a $3.5 million investment in C16 Biosciences, a startup focused on developing sustainable alternatives to palm oil. This funding is part of a larger effort to address the environmental impact of palm oil production, which has been linked to deforestation and climate pollution.
Key Takeaway
C16 Biosciences, with the support of the Gates Foundation and other investors, is pioneering the development of sustainable alternatives to palm oil, aiming to address the environmental impact of oil production and deforestation.
Developing Sustainable Alternatives
C16 Biosciences, backed by Y Combinator, is working on fermenting alternatives to palm oil using yeast and agriculturally derived feedstocks. The company has already created an alternative to palm oil called Palmless, which is being used in beauty products. With the new funding, C16 Biosciences aims to expand its efforts to develop new oil recipes for use in food, utilizing both waste stream feedstocks and non-agriculturally derived feedstocks. This includes the potential use of feedstocks derived directly from carbon capture, presenting an innovative approach to addressing the environmental impact of oil production.
The Environmental Impact of Palm Oil
Palm oil is a widely used ingredient found in various products, including soaps, biofuels, chocolates, and instant ramen. However, the industry has faced criticism due to its association with deforestation and climate pollution. Studies have shown that climate pollution from palm oil plantations alone is equivalent to about half of the entire aviation industry’s emissions. Furthermore, deforestation, often driven by palm oil production, has contributed significantly to carbon dioxide emissions since 1850.
Support from Key Investors
In addition to the investment from the Gates Foundation, C16 Biosciences has received support from Elemental Excelerator, a non-profit accelerator focused on climate tech with deep community impact. Previous investors in the startup include Bill Gates’ Breakthrough Energy and DCVC, highlighting the growing interest and investment in sustainable alternatives to palm oil.
