Based on a current press launch, the elevated funding will primarily be used to broaden manufacturing and gross sales of P2 Science, Inc.’s main product platform Citropol, that are sustainable and renewable liquid polymers derived from timber and utilized by cosmetics and private care product producers to formulate clear magnificence merchandise 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 College neighborhood and co-founded the Heart for Inexperienced Chemistry and Inexperienced Engineering. After securing its first spherical of funding capital in 2011, the corporate expanded operations considerably and by 2012 had constructed its first pilot plant for novel course of intensified ozonolysis.
P2 Science, Inc. most lately introduced in new traders in 2020. As detailed within the press launch, it “received 5 trade awards in 2022, together with the Innovation Finest Breakthrough Provider Award from BeautyMatter, one of the crucial trusted voices in magnificence.”
Although early into 2023, P2 Science, Inc. has already loved a number of successes, together with launching three new merchandise by means of Unilever’s Dwelling Proof model formulated with P2 Science, Inc. progressive elements. The newest spherical of secured funding this 12 months signifies additional growth efforts are on the horizon.
About Citropol
Based on the P2 Science, Inc. web site, Citropol is “a brand-new class of low MW liquid polymers which might be made out of 100% forest-derived terpenes utilizing a clear, gentle, and excessive yielding conversion course of. The result’s a patented, water-white, clear, odorless liquid with unbelievable really feel properties.”
For producers and suppliers to the cosmetics and private care industries, these “polymers might be tuned and modified to attain a variety of bodily properties,” providing corporations the chance to formulate “cosmetics, skincare, hair care, and perfume” choices that adhere to scrub magnificence requirements.
There are twenty-two patented merchandise within the Citropol polymer group, that are utilized throughout all private magnificence and cosmetics product classes. These embody Citropol 1A, a terpene-derived low-molecular-weight liquid polymer; Citropol F, a very biorenewable and biodegradable perfume fixative and service; Citropol V5, a risky emollient various to risky silicones; Citropol HA, a medium viscosity emollient that can be utilized as a substitute for dimethicone 100 cPs, and Citropol H, a medium viscosity cosmetics polymer.
These merchandise are created by means of P2 Science, Inc.’s proprietary course of known as Course of Intensified Steady Etherification, or PICE.
In regards to the funding
Within the press launch, P2 Science, Inc. CEO Neil Burns shared that its merchandise enable “clients to construct extremely high-performance merchandise which additionally fulfill client calls for, regulatory necessities, and inner sustainability targets” and that “this new spherical of financing will enable us to supercharge manufacturing and speed up our international gross sales pipeline.”
Lewis & Clark AgriFood Working Associate Chuck Warta echoed the sentiment and defined, “P2 is without doubt one of the few profitable sustainable chemistry platform corporations, and lots of within the private care and sweetness house are actually turning to P2 for innovation.”
He additional reiterated Burns’ pleasure relating to the secured funding, sharing that Lewis & Clark AgriFood is “excited to accomplice with the P2 group and current traders to develop a world-leading inexperienced chemistry firm, deeply rooted in know-how, with a portfolio of sustainable, high-value, and high-performance merchandise.”
As detailed on their web site, Lewis & Clark AgriFood, the funding group employs a “holistic funding method that realizes worth throughout your complete worth chain from pre-production to distribution.” Their technique focuses on “tech-enabled, sustainable AgriFood corporations within the late stage VC/progress stage with converging to optimistic working money move, which limits threat and results in outsized returns.”
Underneath this mannequin, the partnership between P2 Science, Inc. and Lewis & Clark AgriFood has nice potential for fulfillment in 2023. Warta will be part of P2 Science, Inc.’s Board of Administrators as a part of the secured financing.
