P2 Science, a Connecticut-based developer of renewable specialty chemicals, has raised $23 million in growth financing led by Sofinnova Partners. The company manufactures high-performance ingredients from plant-based feedstocks using its proprietary PIOz ozonolysis and PICE polymerization platforms to replace petroleum-derived and silicone materials. The capital will accelerate commercial momentum in beauty and personal care while expanding the platform into new markets.
Green Chemistry Draws Sustained Investor Interest
The timing aligns with broader capital inflows into sustainable chemistry. P2 Science's approach centers on converting renewable oils, particularly pine terpenes, into functional emollients and aroma ingredients through continuous-flow green chemistry processes. This positions the company to serve formulators seeking verified bio-based alternatives without performance trade-offs.
Petroleum Alternatives Drive Ingredient Demand
Brands and formulators face mounting pressure to decarbonize supply chains while maintaining sensory and functional performance in products. P2 Science's Citropol and Citrolatum lines target direct replacement of petrolatum and silicones with 99% natural-origin materials derived from upcycled feedstocks.
Proprietary Platforms Enable Scalable Conversion
The company's PIOz and PICE technologies allow safe, intensified conversion of terpene feedstocks into polymeric emollients and pigment dispersions. These products deliver fragrance longevity extension, emolliency, and pigment dispersion in hair care, skin care, and color cosmetics. Unlike fermentation-heavy competitors focused on bulk molecules, P2 emphasizes high-performance drop-in replacements tailored for clean beauty applications.
"We believe you don't have to compromise performance for sustainability."
Sofinnova Leads Strategic Growth Round
Sofinnova Partners led the round with participation from Emerald Technology Ventures, Lewis & Clark AgriFood, dsm-firmenich, Connecticut Innovations, and existing backers including BASF and CHANEL. The investor mix signals validation for scaling both beauty ingredients and adjacent applications in performance materials and crop care.
Green Chemicals Market Expands Rapidly
The green chemicals market is projected to grow from $120.51 billion in 2025 to $270.13 billion by 2033 at a 10.7% CAGR. P2 Science's selection for L'Oréal's €100 million L'AcceleratOR program and ARPA-E funding further validates its platform amid rising demand for bio-based personal care ingredients.
Leadership Anchored in Green Chemistry Expertise
Founded in 2011 as a Yale spinout, P2 Science was co-founded by Paul Anastas, a pioneer of the 12 Principles of Green Chemistry, and Patrick Foley, who serves as President. The team's deep technical foundation supports ongoing product launches such as Citrolatum P and CitroComplex Nourish.
Hiring Supports Manufacturing Scale-Up
The company is actively hiring Process Chemists and Application Chemists for personal care to support expanded production at its Naugatuck, Connecticut facility following 95% revenue growth in 2025.