Unilever and US biotech company Geno are pumping $120 million (€115.5 million) into developing alternatives to palm oil and ingredients based on fossil fuels, announce companies on Thursday. The innovation will be especially useful for beauty and cleaning products.
Unilever, one of the largest producers worldwide in the $625 billion care and cleaning market, has noticed an increased demand for products free of palm oil or fossil fuels. At the moment, there are quite a few good alternatives which is why the company joined Geno.
“We hope to revolutionize the way cleaning agents are made,” said Richard Slater, Unilever’s director of research. “By reducing our reliance on palm oil and fossil fuels, our suppliers will also have access to alternatives, making the supply chain more resilient.”
Unilever assures not to completely eliminate palm oil, but according to the first results its use can be reduced by half by reducing the use of the new technology.
Geno is an American biotechnology company founded twenty years ago, and since then it has been developing sustainable materials based on plants and biological raw materials. The company has already worked with major US companies such as sportswear manufacturer Lululemon and German chemical giant Covestro.
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