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You're right, but I am curious whether they'll be able to pursue this chemically through non-biological feedstocks. Most existing use of Fischer-Tropsch turns fossil fuels (coal, natural gas) into other types of hydrocarbons.
And they're specifically targeting output of fatty acids, using fractional distillation to separate each fatty acid, and then forming triglycerides according to the characteristics they're looking for.
It all sounds very energy intensive and inefficient, so I'm not sure how they expect to make money doing this, but if they can dial in which fatty acids to assemble into triglycerides I can see this being a good substitute for palm oil and coconut oil, and maybe other vegan substitutes for animal fats like tallow and lard.