Based in California, SP Investment Fund is a private investment company that primarily invests in socially positive investments. SP Investment Fund’s core business has been investing in, developing and/or renovating government-subsidized housing for low and very low income families, seniors and/or disabled individuals. In 2014, SP Investment Fund expanded its focus to include emerging-technology businesses whose businesses will have significant social impacts. One such company that SP has invested in is C16 Biosciences. C16 Biosciences has also received funding from YCombinator.
C16 Biosciences is a Boston startup that concentrates on developing a sustainable alternative to producing palm oil through biotechnology, by bioengineering yeast to produce palm oil and related compounds. Palm oil is a commodity that has huge global demand and is used widely in food, skin-care, and clothing items. The palm oil industry is currently a $61 billion industry and growing rapidly.
The sustainability problem is that palm oil can only be harvested in the tropics, and increasing palm oil production is resulting in rain forest deforestation. The resulting deforestation is a huge contributor to global warming, and also is endangering habitats and wildlife. Unfortunately, industry has continued to demand palm oil because there are no good substitutes in nature.
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