P2 Science Inc., a Woodbridge, Conn.-based green chemistry company, closed a funding round of undisclosed amount.
The round was led by Lewis & Clark AgriFood, with participation from existing investors Heritage Group Ventures, Chanel, Elm Street Ventures, and SaferMade. Prior investors in P2 also include BASF Venture Capital, Connecticut Innovations, Advantage Capital, and others.
The proceeds from this round will be used to expand sales and production of Citropol®, P2’s flagship product platform.
Through a proprietary process called Process Intensified Continuous Etherification (“PICE”), P2 transforms renewable forest-derived feedstocks into high-performance ingredients for use in a variety of personal care, cosmetics, and beauty products. Citropol® is easy to formulate while safe for human health and the environment.
In addition to Citropol®, the company has developed other proprietary products and chemistries for use across industries, such as flavor and fragrance, specialty materials, and more. A process that has also garnered particular interest is P2’s Process Intensified Ozonolysis (“PIOz”), which has a much smaller footprint than traditional ozonolysis. In May 2020, the company announced a Joint Development Agreement with Archer Daniels Midland to commercialize renewable plant-based products across high-value markets, such as nylons, polyesters, lubricants, and agrochemicals, utilizing PIOz.
In January 2023, Unilever’s haircare brand, Living Proof, launched three new products built on P2’s ingredients.
The company is led by Neil Burns, CEO.
FinSMEs
23/02/2023