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The proceeds from this round will primarily be used to expand sales and production of Citropol.
February 23, 2023
By: Christine Esposito
Editor-in-Chief
P2 Science Inc. closed of a funding round led by Lewis & Clark AgriFood. In the round, Lewis & Clark was joined by existing investors, including Heritage Group Ventures, Chanel, Elm Street Ventures, and SaferMade. Prior investors in P2 also include BASF Venture Capital, Connecticut Innovations, Advantage Capital, and others. . The proceeds from this round will primarily be used to expand sales and production of Citropol, P2's flagship product platform. Through a proprietary process called Process Intensified Continuous Etherification (PICE), P2 transforms renewable forest-derived feedstocks into high-performance ingredients for use in a variety of personal care, cosmetics, and beauty products. Citropol exceeds the performance of traditional emollients, including silicones, and is easy to formulate while safe for human health and the environment. In January 2023, Living Proof launched three new products built on P2's ingredients. The pair announced a long-term accord in May 2022. “We've built a new patented, market-leading ingredient platform, that allows customers to build incredibly high-performance products which also satisfy consumer demands, regulatory requirements, and internal sustainability goals,” said Neil Burns, CEO of P2 Science. “There is nothing in the market today like Citropol. We now have 22 patented Citropol products that are used in every product category across personal care and beauty. This new round of financing will allow us to supercharge production and accelerate our global sales pipeline.” “P2 is one of the very few successful sustainable chemistry platform companies,” said Chuck Warta, operating partner with Lewis & Clark AgriFood. “Consumers and companies across industries are looking for highly functional, new, sustainable alternatives. Many in the personal care and beauty space are now turning to P2 for innovation. We are 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 part of the financing, Warta has joined P2's board of directors.
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