P2 Science Closes $23 Million Round to Scale Green Chemistry Platform Across Beauty, Polymers and Crop Care

P2 Science, a green chemistry company transforming sustainable feedstocks into high-performance ingredients, has closed an oversubscribed $23 million up round led by Sofinnova Partners, with new investors Emerald Technology Ventures and GS Futures joining alongside existing backers including Lewis and Clark Partners, dsm-firmenich ventures, Connecticut Innovations, Elm Street Ventures, Chanel, BASF and Safer Made. The financing will accelerate P2's commercial growth in beauty and personal care ingredients while expanding the green chemistry platform into new markets including aroma technologies, performance polymers, home care, coatings and crop care. The round follows selection for L'Oréal's €100 million sustainable innovation accelerator and a $2.8 million non-dilutive ARPA-E award from the US Department of Energy to accelerate catalyst innovation through AI-enhanced autonomous laboratories.

 

Commercial Traction and Platform Capabilities

 

P2 Science has built commercial momentum in the beauty and personal care sector through a series of recent product launches and strategic partnerships that demonstrate the performance competitiveness of its green chemistry outputs. The company launched Citrolatum P, a one-to-one plant-based replacement for petrolatum, and CitroComplex Nourish, a high-performance natural oil blend for skin and hair care, both of which address significant volumes of petrochemical ingredients used in consumer products globally. It also entered a strategic partnership with Algenesis to develop 100 percent biobased, biodegradable polyurethanes, extending its materials innovation into a category with substantial environmental impact across multiple industrial sectors.

Oihana Elizalde, Chief Executive Officer of P2 Science, said the milestone validates the strength of the technology and the urgency of global demand for clean, scalable manufacturing solutions. She said the new funding positions the company to supercharge its beauty business and bring green chemistry solutions to entirely new industries, expressing gratitude to existing investors and excitement about welcoming the new partners. The company's inclusion on Fast Company's annual list of the World's Most Innovative Companies in both 2025 and 2026 provides external validation of its innovation credentials that strengthens commercial conversations with brands evaluating ingredient suppliers.

 

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Investor Rationale and Strategic Backing

 

Michael Krel, Partner at Sofinnova Partners, said P2 Science has demonstrated that green chemistry can compete on performance rather than solely on sustainability credentials. He described the commercial foundation built in beauty as strong and noted that the platform has real reach into adjacent markets, confirming the investment rationale centres on commercial scalability rather than early-stage technology risk. The diverse investor syndicate, spanning life sciences venture capital through corporate strategic investors from the beauty, chemicals and agriculture sectors, provides P2 Science with a network that can support commercial partnerships and procurement relationships across multiple target markets simultaneously.

The combination of financial capital from venture investors and strategic validation from corporate partners including Chanel and BASF creates a financing structure that addresses both growth capital needs and market access simultaneously. Corporate strategic investors in green chemistry companies typically provide not only capital but also pathways to supply agreements, co-development arrangements and commercial introduction that significantly accelerate revenue growth. The addition of Emerald Technology Ventures, which specialises in sustainable chemistry and materials investments, brings sector-specific expertise that complements Sofinnova's life sciences capabilities.

 

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Outlook for Green Chemistry Commercialisation

 

The capital raise arrives at a moment when brands and consumer goods companies are under increasing pressure to reduce petrochemical content across their ingredient portfolios, driven by regulatory tightening, consumer demand and investor scrutiny of supply chain sustainability. P2 Science's positioning as a provider of plant-based, high-performance alternatives to petrochemical inputs addresses a structural market transition rather than a niche sustainability preference, giving the platform a long runway for growth as the shift away from fossil-derived materials accelerates. The entry into performance polymers, coatings and crop care alongside the established beauty portfolio diversifies revenue exposure and extends the addressable market substantially.

Whether P2 Science can successfully execute the multi-market expansion implied by its platform ambitions while maintaining the commercial momentum it has built in beauty will depend on the depth of its manufacturing capabilities, the adaptability of its chemistry platform across different application requirements and the commercial relationships its strategic investors can facilitate. Sustained execution would establish P2 Science as one of the leading green chemistry platforms supplying multiple consumer and industrial sectors, demonstrating that biobased chemistry can deliver performance parity with petrochemical alternatives at commercial scale. The next phase of the company's growth will be a critical test of whether green chemistry can cross from its current niche in premium beauty ingredients into mainstream industrial applications.

 

 

Source: p2science