Source: Fast Company 

In New York City, a startup called C16 Biosciences is using bioreactors to grow an oil that’s chemically almost identical to palm oil and functions in the same way. 

This week, the company announced a $20 million Series A round of investment led by Breakthrough Energy Ventures, the fund that Bill Gates established along with other investors to support innovations that fight climate change. Each year, deforestation caused by the palm oil industry emits around half a billion tons of CO2.