P2 Science secures USD 23M to accelerate bio-based ingredient innovation 

USA – P2 Science, a leading green chemistry company, has successfully closed an oversubscribed USD 23 million growth financing round led by Sofinnova Partners, a prominent European life sciences venture capital firm based in Paris, London, and Milan. 

This significant capital infusion will accelerate the company’s commercial expansion in beauty and personal care ingredients while scaling its green chemistry platform into entirely new industrial markets. 

The financing brings together new and returning strategic investors, with Sofinnova Partners entering P2’s cap table as a lead investor, joined by Emerald Technology Ventures and GS Futures. 

In contrast, returning investors include Lewis & Clark Partners, dsm-firmenich ventures, Connecticut Innovations, Elm Street Ventures, CHANEL, BASF, and Safer Made, L.P., reflecting strong market confidence in P2 Science’s commercial traction, proven innovation leadership, and the scalability of its green chemistry platform.

Oihana Elizalde, CEO of P2 Science, stated, “With this new funding, we are positioned to supercharge our beauty business and bring real green chemistry solutions to entirely new industries.”

“We are deeply grateful to our existing investors, whose continued partnership has been instrumental in getting us here, and we are thrilled to welcome Sofinnova Partners, Emerald Technology Ventures, and GS Futures to the P2 family as we begin this next chapter of growth.”

The company will deploy the capital across two primary strategic dimensions: accelerating commercial momentum in its award-winning beauty and personal care ingredients portfolio, which has established a strong commercial foundation, and driving growth into five adjacent industrial markets, including aroma technologies, performance polymers, home care, coatings, and crop care. 

P2 Science transforms sustainable feedstocks into high-performance ingredients using proprietary green chemistry technologies, specifically its PIOz ozonolysis platform that converts plant-based materials into valuable chemical building blocks and its PICE polymerization platform that creates high-performance polymers from renewable sources. 

The company’s core mission is to replace petrochemicals and silicone materials with bio-based, sustainable alternatives manufactured through clean, scalable processes.

P2 Science has built significant momentum leading up to this financing, including being named to Fast Company’s World’s Most Innovative Companies list in both 2025 and 2026, selection for L’Oréal’s €100 million (USD 109 million) sustainable innovation program called L’AcceleratOR, and receiving USD 2.8 million in non-dilutive funding from the U.S. Department of Energy’s ARPA-E for AI-enhanced catalyst innovation. 

The company also recently collaborated with Algenesis to develop 100% bio-based, biodegradable polyurethanes, demonstrating the versatility of its platform.

On the product front, P2 Science recently 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 that serves as a high-viscosity polymeric emollient derived from renewable forestry byproducts such as pine trees.

This USD 23 million financing comes at a pivotal moment for sustainable manufacturing, as brands and consumers increasingly demand higher-performing, healthier products while global markets accelerate the shift away from petrochemicals, positioning P2 Science to lead by combining a commercially proven beauty ingredients portfolio, a versatile green chemistry platform, and manufacturing capabilities ready for scale. 

Sign up to receive our email newsletters with the latest news updates and insights from Africa and the World HERE.