ADM (NYSE: ADM) and P2 Science, Inc. (P2) have signed a Memorandum of Understanding (MOU) that intends to build on both companies’ expertise in the field of chemistry and renewable materials derived from plants. The MOU proposes the companies will work together in the development of commercial opportunities for plant-based monomers, polymers and ingredients for personal care and flavors & fragrances (F&F).
ADM has a leading global portfolio of plant-based feedstocks including carbohydrates, vegetable oils and terpenes. P2 has developed a suite of patented green chemistry process technologies that convert renewable feedstocks into high value specialty chemicals. P2 also has a growing portfolio of novel aroma chemicals and cosmetics ingredients. Under the terms of the MOU, the companies will bring these and other strengths together with the aim of developing business opportunities in the growing market for plant-based, renewable chemicals and materials. The initial program targets will include monomers for polyesters and polyamides and other chemical intermediates derived from vegetable oil feedstocks.
“We are very happy to be working with ADM in such an important area. ADM’s global presence in agricultural feedstocks is unparalleled. Their market reach and technology are second to none and we couldn’t think of a better partner to be working with in the emerging bioeconomy,” said Neil Burns, CEO of P2 Science.
“This exciting program with P2 adds to a growing pipeline of plant-based renewable chemicals at ADM,” said Paul Bloom, ADM vice president, Process and Chemical Research. “ADM values developing novel technology with innovative partners like P2. We are committed to growing our sustainable materials platform by combining agricultural feedstocks with world-class technology to provide renewable solutions to customers throughout the value chain. In 2018, ADM and DuPont opened the world’s first pilot production facility for bio-based FDME and earlier this year announced a joint development with LG Chem to produce biobased acrylic acid. In response to consumer demand for environmentally responsible products, many consumer packaged goods companies have committed to more sustainable packaging, including the use of plant-based materials.”
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.
About P2 Science
P2 Science is 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 and Ironwood Capital. The company started up its first manufacturing plant in September of 2018 which produces commercial quantities of novel renewable aroma chemicals and cosmetics ingredients as well as pilot quantities of renewable polymer intermediates.