US biotechnology company Genomatica is a producer of sustainable materials derived from plant- or waste-based feedstocks instead of fossil fuels. According to the agreement, detergent giant Unilever and Genomatica will form a venture set to be backed by additional investors that aims to commercialise palm oil and fossil oil alternatives in the the combined $625bn home and personal care markets. Unilever is the first company to invest in the venture to to make key ingredients used in everyday cleaning and personal care products. With growing demand for sustainably-sourced palm oil, this venture aims to deliver additional responsibly sourced palm oil alternatives to the market. At present, there are few viable alternatives to palm and fossil sources that can be produced at scale in order to make those ingredients. For Unilever, one of the world's biggest soap and detergent manufacturers, this is the largest investment in biotechnology alternatives to palm oil to date.