C16 Biosciences

“We have, and one of the things that happened with this launch was we had about a hundred brands fill up our pipeline. So we currently have basically every major consumer packaged good company.”

“We made enough oil, got up on stage for two minutes, held it up, and gave our pitch, and in about two weeks, we were able to raise four million dollars to get the company started.”

“It's really hard to confirm that the palm oil in your product has been grown sustainably. And it just comes down to these very complicated supply chains, where if you were buying, you know, a bag of potato chips, it's nearly impossible to trace that palm oil a…”

“Our process today, we can start a, we call it a production run, and in six days we can extract oil.”

“By the end of this year, we'll be in a handful of other personal care products, so think skin care and body care products, and other brands featuring Palmless as the sort of innovator, and within two years or so, we will be able to be in food products.”

“So instead of sort of finding the DNA responsible for producing oil in the oil palm tree and then importing that and genetically inserting it into a yeast, we actually found a yeast which could naturally make the oil that we wanted.”

“That being said, we launched this product. We spent zero dollars advertising it, and it sold out in three hours, and it was a limited launch.”

“It is in 50% of products on supermarket shelves, and like you said, every person touches it every day, including me, who tries not to, but it's ubiquitous, and it is in everything from soaps and shampoos To lipstick and laundry detergent, to most of the foods …”

“In our first market, we're already gross margin positive, so in the beauty industry, we've got people willing to pay high prices for this, because they love the story, they love the innovation, and they love the product, and they'll pay high prices, and we hav…”