Dive deeper on Kao joining Genomatica venture to scale palm oil alternatives
According to a press release, Kao is joining as a founding member of the project to scale up plant-based alternatives to palm kernel oil. The announcement adds to the previously announced $120 million investment from Unilever.
Implementation of the Genomatica-developed alternative could decrease the carbon footprint of palm-derived ingredients by up to 50%, according to the release.
“Kao’s investment in this venture will make possible the provision of new eco-chemical solutions and represents an opportunity for Kao to play an even bigger role in helping consumers, customers, industry and society to realize decarbonization and make the shift to a resource-circulating economy,” Masahiro Katayose, Kao Senior Executive Officer in charge of Chemical Business said in the release.
Katayose also said Genomatica is an important partner for Kao as a chemical manufacturer because of the role the biotech firm plays in creating more sustainable raw materials.
The release said the venture will help Genomatica achieve a 100 million ton reduction of greenhouse gases in upcoming years and Kao’s goals to become carbon neutral by 2040 and carbon negative by 2050.
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