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A Woodbridge-based renewable chemistry company, P2 Science Inc., will join forces with a Chicago business to develop commercial opportunities for plant-based ingredients for personal care, flavor, cosmetics and fragrance products.
P2 Science has signed a memorandum of understanding with ADM, a food and beverage ingredient and nutrition company. The goal is to build on both companies’ knowledge and expertise in the field of plant-based chemistry and renewable materials, according to an announcement.
Neil Burns, CEO of P2 Science, said the company is “very happy” to be working with ADM.
“ADM’s global presence in agricultural feedstocks is unparalleled,” Burns said in the announcement. “Their market reach and technology are second to none and we couldn’t think of a better partner to be working with in the emerging bioeconomy.”
P2 Science was co-founded by two men who worked together at Yale University, specifically Yale’s Center for Green Chemistry and Green Engineering, including Yale professor Paul Anastas and company Chief Science Officer Patrick Foley.
Since its inception, the company has attracted multiple investors, including BASF Venture Capital, Xeraya Capital, Elm Street Ventures, Connecticut Innovations and Ironwood Capital.
P2 Science opened its first manufacturing plant in September 2018 in Naugatuck, and it is producing commercial quantities of renewable aroma chemicals and cosmetics ingredients.
Under the new memorandum of understanding between the two companies, they plan to work together to develop new commercial business opportunities in the growing market for plant-based, renewable chemicals and materials. This includes monomers, polymers and ingredients for personal care, flavor and fragrance products.
Paul Bloom, ADM vice president, process and chemical research, called it an “exciting program” with P2 Science which “adds to a growing pipeline of plant-based renewable chemicals at ADM.”
“ADM values developing novel technology with innovative partners like P2,” he added.
Contact Michelle Tuccitto Sullo at msullo@newhavenbiz.com.
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