PRESS RELEASE: C16 Biosciences Raises $20 Million Series A to Produce Bio-Based Palm Oil Alternative
Updated: Jun 1, 2020
Congratulations to resident company C16 Biosciences on their Series A!
Breakthrough Energy Ventures, helmed by Bill Gates, is leading an investment round of $20 million for the company. C16 is aiming to greatly reduce greenhouse gas emissions across the globe with their lab-grown palm oil, an alternative to a product that is found in a truly massive amount of goods. C16’s alternative is grown in bioreactors and is 20 percent less expensive to customers but “doesn’t destroy the planet,” the company says.
Always exciting watching those in our community succeed!
Read their full press release HERE
Apply to work with them HERE