Green chemistry company P2 Science, Inc. to drive ingredient portfolio expansion with new funding round
According to a recent press release, the increased funding will primarily be used to expand production and sales of P2 Science, Inc.’s leading product platform Citropol, which are sustainable and renewable liquid polymers derived from trees and used by cosmetics and personal care product manufacturers to formulate clean beauty products for end-users.
About P2 Science, Inc.
P2 Science, Inc. was co-founded by Professor Paul Anastas in 2009, three years after he joined the Yale University community and co-founded the Center for Green Chemistry and Green Engineering. After securing its first round of investment capital in 2011, the company expanded operations substantially and by 2012 had built its first pilot plant for novel process intensified ozonolysis.
P2 Science, Inc. most recently brought in new investors in 2020. As detailed in the press release, it “won five industry awards in 2022, including the Innovation Best Breakthrough Supplier Award from BeautyMatter, one of the most trusted voices in beauty.”
Though early into 2023, P2 Science, Inc. has already enjoyed several successes, including launching three new products through Unilever’s Living Proof brand formulated with P2 Science, Inc. innovative ingredients. The latest round of secured funding this year signifies further expansion efforts are on the horizon.
About Citropol
According to the P2 Science, Inc. website, Citropol is “a brand-new class of low MW liquid polymers that are made from 100% forest-derived terpenes using a clean, mild, and high yielding conversion process. The result is a patented, water-white, clear, odorless liquid with incredible feel properties.”
For manufacturers and suppliers to the cosmetics and personal care industries, these “polymers can be tuned and modified to achieve a wide range of physical properties,” offering companies the opportunity to formulate “cosmetics, skin care, hair care, and fragrance” options that adhere to clean beauty standards.
There are twenty-two patented products in the Citropol polymer group, which are utilized across all personal beauty and cosmetics product categories. These include Citropol 1A, a terpene-derived low-molecular-weight liquid polymer; Citropol F, a completely biorenewable and biodegradable fragrance fixative and carrier; Citropol V5, a volatile emollient alternative to volatile silicones; Citropol HA, a medium viscosity emollient that can be used as an alternative to dimethicone 100 cPs, and Citropol H, a medium viscosity cosmetics polymer.
These products are created through P2 Science, Inc.’s proprietary process called Process Intensified Continuous Etherification, or PICE.
About the investment
In the press release, P2 Science, Inc. CEO Neil Burns shared that its products allow “customers to build incredibly high-performance products which also satisfy consumer demands, regulatory requirements, and internal sustainability goals” and that “this new round of financing will allow us to supercharge production and accelerate our global sales pipeline.”
Lewis & Clark AgriFood Operating Partner Chuck Warta echoed the sentiment and explained, “P2 is one of the few successful sustainable chemistry platform companies, and many in the personal care and beauty space are now turning to P2 for innovation.”
He further reiterated Burns’ excitement regarding the secured funding, sharing that Lewis & Clark AgriFood is “excited to partner with the P2 team and existing investors to grow a world-leading green chemistry company, deeply rooted in technology, with a portfolio of sustainable, high-value, and high-performance products.”
As detailed on their website, Lewis & Clark AgriFood, the investment group employs a “holistic investment approach that realizes value across the entire value chain from pre-production to distribution.” Their strategy focuses on “tech-enabled, sustainable AgriFood companies in the late stage VC/growth stage with converging to positive operating cash flow, which limits risk and leads to outsized returns.”
Under this model, the partnership between P2 Science, Inc. and Lewis & Clark AgriFood has great potential for success in 2023. Warta will join P2 Science, Inc.’s Board of Directors as part of the secured financing.
