News Summary

• Estonian startup ÄIO has developed a process to turn agricultural waste into fats.
• The process could be a way to reduce the world’s dependency on palm oil.
• The company plans to build a facility to produce the fat in commercial quantities by 2027.
• It also must obtain licenses to sell the fats as food, country by country, most likely starting with Singapore, which has a history of being more open to alternative food production products.
• They’ve raised about $7 million so far and, since founding, have won the 2024 Baltic Sustainability Award.