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Sustainability

C16 raises funds for palm oil fermentation

by Melody M. Bomgardner
March 7, 2020 | APPEARED IN VOLUME 98, ISSUE 9

 

The New York City–based start-up C16 Biosciences has raised $20 million in a first round of venture funding from Breakthrough Energy Ventures and others to develop a fermentation-based method for producing palm oil. Palm oil plantations drive tropical deforestation and contribute to climate change. And even after years of sustainability efforts, C16 says, only 20% of the global palm oil market is certified sustainable. The company will use the funds to scale its technology, hire workers, and prepare for a commercial launch.

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