Investments, Press Release

P2 Science bags $500,000 funding

Connecticut Innovations (CI), an organization that helps Connecticut businesses grow through creative financing and strategic assistance, has made a $500,000 investment in P2 Science Inc. of New Haven, Conn., through its Eli Whitney Equity Fund. This investment was part of a $1 million Series A funding round also involving Elm Street Ventures. In 2013, CI provided P2 Science with a $500,000 seed investment and earlier provided pre-seed funding.

P2 Science, a specialty chemical company dedicated to producing high-value, high-margin consumer and industrial product ingredients from biomass, is reportedly now operating its new pilot reactor and is gearing up for larger scale production in Connecticut.

The company’s core refining steps use a P2 Science proprietary process known as hybrid ozonolysis (HO) to convert biomass into aldehydes for use in fragrances and flavors, diacids for use in cosmetics and polymers, and derivatives of aldehydes, such as alcohols, esters and surfactants, for use in cosmetics, personal care products and lubricants.

The company has begun manufacturing product ingredients using a pilot reactor installed at its lab in Science Park and is in discussions with several prospective customers and partners in the F&F and cosmetics industries. P2 Science also continues its research to diversify the products it can offer using a variety of feedstocks.

About Doris de Guzman

Will Green Chemistry save the world or is it hype? Doris de Guzman examines alternative processing, new technology, R&D and other sustainability initiatives aimed at preventing pollution; replacing ingredients; and using renewable feedstocks in Green Chemistry. She has been covering the oleochemicals market for 12 years and spread her beat to inorganics, biofuels and green chemistry.

Discussion

One Response to “P2 Science bags $500,000 funding”

  1. Thanks for the coverage, Doris. We are just up the road from you in New Haven. You are welcome any time to visit and see what we are doing first-hand any time. – Neil

    Posted by naburns | April 18, 2014, 7:44 am

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