These startups face an uphill fight. The world is so awash in palm oil made the usual way, by growing palm trees, that it s relatively inexpensive to buy.
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The Bill and Melinda Gates Foundation is pumping $3.5 million into C16 Biosciences, the Y Combinator-backed company fermenting alternatives to the environmentally destructive palm oil business. The Gates grant comes alongside a $1 million check from Elemental Excelerator, a nonprofit accelerator that backs climate tech "with deep community impact." You can find palm oil pretty much everywhere — in soaps and biofuels as well as chocolates and instant ramen.