Lab-grown palm oil could offer environmentally-friendly alternative

New York City — What scientists are brewing inside a New York City lab could dramatically change the products people use every day.

Shara Ticku, co-founder of C16 Biosciences, took CBS News inside the lab where the company grows an alternative to palm oil. Ticku said yeast plays a key role in their development process.  

"Palm oil is responsible for making hand soaps, foam and cleanse," Ticku explained. "It makes the color stay on your lipstick and on your lips. And it helps create a smooth spreadable emulsion in peanut butter."