ADM and P2 Science Implement Joint Development Agreement in Renewable Plant-Based Products
WOODBRIDGE, Conn., July 28, 2020 /PRNewswire-PRWeb/ -- ADM and P2 Science, Inc. (P2) have executed a joint development agreement (JDA) directed toward the commercialization of an initial set of renewable plant-based products used in high value markets. This JDA follows the Memorandum of Understanding (MOU) signed between the companies in January of this year.
The first products covered by the JDA include, but are not limited to, renewable terpene monomers and polymers, mid-chain fatty alcohols and acids, polyesters, polyamides, plasticizers and surfactants. The major markets for these products include cosmetics, skincare, paints and coatings, automotive, construction, apparel, home, personal care & industrial cleaning (HPCI) and many others. ADM has a leading global portfolio of plant-based products including carbohydrates, vegetable oils and terpenes, as well as advanced processes and fermentation technology. P2 has complementary patented green chemistry process technologies, including PiOz® (Process Intensified Ozonolysis) and PiOx® (Process Intensified Oxidation) and PiCE (Process Intensified Continuous Etherification) that are used in the production of several P2 commercial offerings for the cosmetics, skincare and fragrance markets.
"We are pleased that our collaboration with ADM has homed in so quickly on some key product and market areas, including developing advanced renewable alternatives to traditional silicone products," said Neil Burns, CEO of P2 Science. "One area, the strengthening and broadening of the terpene supply chain to support growth of our Citropol® renewable liquid polymer products, will help us further penetrate the cosmetic and other markets for this platform," he added.
"This agreement with P2 allows us to work with a truly innovative partner to bring new plant-based solutions to the marketplace that help unlock nature and enrich lives," said Paul Bloom, ADM vice president, Sustainable Materials. "We are excited about this next phase of development as we advance our pipeline of plant-based products for our customers."
About ADM:
At ADM, we unlock the power of nature to provide access to nutrition worldwide. With industry-advancing innovations, a complete portfolio of ingredients and solutions to meet any taste, and a commitment to sustainability, we give customers an edge in solving the nutritional challenges of today and tomorrow. We're a global leader in human and animal nutrition and the world's premier agricultural origination and processing company. Our breadth, depth, insights, facilities and logistical expertise give us unparalleled capabilities to meet needs for food, beverages, health and wellness, and more. From the seed of the idea to the outcome of the solution, we enrich the quality of life the world over. ADM and DuPont opened the world's first pilot production facility for bio-based FDME and earlier this year announced a joint development program with LG Chem to produce biobased acrylic acid. Learn more at http://www.adm.com.
About P2 Science:
P2 Science is a renewable chemistry company. The co-founders of P2, Professor Paul Anastas and Dr. Patrick Foley, worked together at the Yale Center for Green Chemistry and Green Engineering. P2 has developed and patented green chemistry technologies for converting renewable feedstocks into high-value specialty products. Investors in P2 include BASF Venture Capital, Xeraya Capital, Elm Street Ventures, Connecticut Innovations, Ironwood Capital, HG Ventures and Chanel. The company started up its first manufacturing plant in September of 2018 which produces novel renewable aroma chemicals and cosmetics ingredients. For more information, see http://www.p2science.com
SOURCE P2 Science
