P2 Science Of Woodbridge Raises Millions In Investment Capital

WOODBRIDGE, CT — P2 Science, a Woodbridge-based renewable specialty chemicals company, recently raised $9.55 million to help fund the construction of a new commercial plant in Connecticut, the company announced.

Among the new investors were Xeraya Capital and BASF Venture Capital. P2 Science focuses "on the processing of simple renewable feedstocks including vegetable oils, terpenes from the forestry industry, and low-cost olefins to produce high value chemistry products."

"This round of financing allows us to expand operations and increase output substantially," said Neil Burns, CEO of P2 Science, in a statement. "In this first commercial plant, we will produce high value products for the flavor, fragrance and cosmetics markets. In the future, we will increase our presence in the polymers, lubricants and surfactants markets with larger scale capacity."

P2 Sciences was co-founded by Yale scientists, Neil Burns, Elm Street Ventures, and Yale University, and the new plant will be in the New Haven area.

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