C16 Biosciences Launches Palmless™ Bio-Manufactured Alternative to Palm Oil, Reveals Beauty as First-To-Market Product In Early 2023

NEW YORK, NY, November 3, 2022 — C16 Biosciences, which produces next-generation oils and fats using biomanufacturing, today announced that it successfully completed an important commercialization stage-gate: its first industrial-scale, 50,000 liter fermentation. To mark the passing of this significant operational milestone,C16 Biosciences announced the launch of a new consumer-facing brand platform for its palm oil alternatives, Palmless™.

Palmless™ is an innovative solution to the problem of agricultural palm oil, which is tied to deforestation, greenhouse gas emissions, biodiversity loss, and abusive labor practices. Despite the attention of many stakeholders, issues linked to the production of palm oil have been ongoing since C16 Biosciences started its search for a sustainable alternative in 2018. Palm oil is found in nearly 50% of products on supermarket shelves – from ice cream to baby formula, and from shampoo to lipstick – and demand for the ingredient continues to grow. To meet this demand, US imports of palm oil have increased by nearly 30% since 2014.

“The launch of Palmless™ is a big step forward in making a palm oil alternative a reality. Consumer brands have been seeking a palm alternative for years, but have lacked a real solution – until now,” said Shara Ticku, co-founder and CEO of C16 Biosciences. “Brands using Palmless™ in their products demonstrate they are making every effort to reduce their impact on climate change, and that consumers are demanding it.”

Palmless™ will be relevant across a wide range of consumer packaged goods (CPG) applications, including beauty, personal care, home care, and food. The first products containing a Palmless™ ingredient will be launched in the beauty sector in early 2023.

“Palmless™ is more than the start of commercial roll-out of C16 Biosciences’ technology. It’s also about holding manufacturers and brands to a higher standard: a better option is available. There are no more excuses,” continued Ticku.

These developments come just over two years after C16 Biosciences closed a $20 million Series A investment round led by Breakthrough Energy Ventures, Waldencast, Future Tech Labs and others.

“One of the reasons we invested in C16 was because we knew they had the potential to turn science into a commercial reality,” said Carmichael Roberts, Breakthrough Energy Ventures. “Palmless™ becoming a challenger brand is an important next step as it will give consumers the power to choose products that do less harm.”

About Palmless™

To learn more about Palmless™ and the work C16 Biosciences is doing to solve the palm oil problem, please visit: www.gopalmless.com.

About C16 Biosciences

C16 Biosciences is a New York City-based climate-tech startup producing next-generation ingredients to decarbonize consumer product supply chains. The company’s proprietary biomanufacturing platform produces better performing, more sustainable alternatives to oils and fats. Its first product is a palm oil alternative, set to launch in the beauty sector in early 2023. For more information, please visit http://www.c16bio.com.

About Breakthrough Energy Ventures

Founded by Bill Gates and backed by many of the world’s top business leaders, BEV has raised more than $2 billion in committed capital to support cutting-edge companies that are leading the world to net-zero emissions. BEV is a purpose-built investment firm that is seeking to invest, launch and scale global companies that will eliminate GHG emissions throughout the economy as soon as possible. BEV seeks true breakthroughs and is committed to supporting these entrepreneurs and companies by bringing to bear a unique combination of technical, operational, market and policy expertise.

BEV is a part of Breakthrough Energy, a network of investment vehicles, philanthropic programs, policy advocacy and other activities committed to scaling the technologies we need to reach net-zero emissions by 2050. Visit www.breakthroughenergy.org to learn more.

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