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Forest fire in Riau Province, Indonesia, on March 1. Indonesia's fires have been an annual problem for decades, much of it human-made for more palm oil plantations. Photo: Afrianto Silalahi/NurPhoto via Getty Images

C16 Biosciences, a company seeking to commercialize a manufactured alternative to palm oil, announced yesterday that it has raised $20 million in Series A funding from backers including the Bill Gates-led Breakthrough Energy Ventures.

Why it matters: Palm oil is used in a massive array of products — from shampoo to foods to biofuels.

  • Palm plantations are fueling deforestation that releases CO2 and erodes wildlife habitat in multiple countries.

How it works: The New York-based startup has a fermentation-based "bio-manufacturing" process for "brewing palm oil like beer."

What they're saying: "Consumers want to buy the products they love, but they don’t want to buy products that are directly responsible for climate change," CEO Shara Ticku said.

The intrigue: They're not alone in this space. Per Bloomberg...

  • "California-based startup Kiverdi Inc. is using microbes to convert carbon dioxide into an alternative to palm oil. Scottish startup Revive Eco is extracting useful oils from coffee waste and Indonesian startup Biteback is finding those oils in insects."

Go deeper: Automating food from farm to front door

Go deeper

The new Washington

Illustration: Sarah Grillo/Axios

The Axios subject-matter experts brief you on the incoming administration's plans and team.

Rep. Lou Correa tests positive for COVID-19

Lou Correa. Photo: Tom Williams/CQ-Roll Call, Inc via Getty Images

Rep. Lou Correa (D-Calif.) announced on Saturday that he has tested positive for the coronavirus.

Why it matters: Correa is the latest Democratic lawmaker to share his positive test results after last week's deadly Capitol riot. Correa did not shelter in the designated safe zone with his congressional colleagues during the siege, per a spokesperson, instead staying outside to help Capitol Police.

Far-right figure "Baked Alaska" arrested for involvement in Capitol siege

Photo: Shay Horse/NurPhoto via Getty Images

The FBI arrested far-right media figure Tim Gionet, known as "Baked Alaska," on Saturday for his involvement in last week's Capitol riot, according to a statement of facts filed in the U.S. District Court in the District of Columbia.

The state of play: Gionet was arrested in Houston on charges related to disorderly or disruptive conduct on the Capitol grounds or in any of the Capitol buildings with the intent to impede, disrupt, or disturb the orderly conduct of a session, per AP.