No, our oils do not compete with food. The size of Novvi’s market is 2 orders of magnitude smaller than food. In 2020 the plant oils market was 213 Million Tons. Novvi’s target market size is 5 Millon Tons so we will never have a significant impact on this market. In addition we strive to use waste crops, recycled streams, and use residue were appropriate to achieve the best GHG footprint.
Reference: Vegetable Oil Market Size, Share, Analysis, Trends and Forecast 2021-2026 (expertmarketresearch.com)