NEWS RELEASE: P2 Science, Inc.
For More Information Contact:
Neil Burns: +1 (732) 688-9585
CEO, P2 Science, Inc
July 23rd, 2014
Location: Danbury, CT and New Haven, CT
Bedoukian Research and P2 Science Agree to Manufacture and Market F&F Ingredients
P2 SCIENCE, INC. A RENEWABLE CHEMICAL COMPANY AND BEDOUKIAN RESEARCH, INC., A LEADING FLAVOR AND FRAGRANCE (F&F) INGREDIENT COMPANY HAVE ENTERED INTO AN AGREEMENT FOR THE DEVELOPMENT, MANUFACTURING AND MARKETING OF F&F INGREDIENTS.
Currently, products with an existing market demand and innovative new molecules are being worked on by Bedoukian and P2. Products of immediate commercial interest to both companies are expected to be scaled up to production for commercial supply within a 12 month timeframe. Brand new molecules will be assessed for toxicology, performance and economics. Selected products will be moved through the commercialization process and marketed through the joint activities of both companies. P2’s unique chemical process technology for the manufacture of chemicals from biomass is a good fit with Bedoukian’s synthesis and separations technology. As part of the agreement the companies will evaluate the potential for a joint manufacturing installation to serve the F&F market.
The F&F industry is challenged by both regulatory pressures and consumer demands for more transparency and greater product sustainability. The agreement between Bedoukian and P2 is aimed at commercializing a range of renewable F&F ingredients that are made via unique processing technology; thus enabling formulators to build improved and more cost effective products for the consumer market.
P2 Science is a venture backed company, using patent pending ozonolysis technology to convert biomass into specialty chemicals. Initial target products include renewable versions of existing F&F ingredients as well as brand new molecules, to date inaccessible via existing chemistry. Bedoukian is a leading manufacturer and marketer of F&F Ingredients and Pheromones. The company has particular expertise in chemical synthesis and distillation technology, as well as a global distribution network. As part of the company’s growth strategy, Bedoukian seeks out new technologies to enable it to continue bringing to market high quality, innovative ingredients to help differentiate its customer’s formulations. The partnership with P2 is an important part of this strategy for Bedoukian.
Bedoukian Research, Inc. offers more than 450 Aroma Chemicals and 50 Insect Pheromones. The company was founded by Paul Bedoukian in 1972. Dr. Robert Bedoukian, his son, joined the company in 1975. Under his leadership, Bedoukian Research has enhanced its reputation in the Flavor and Fragrance and Insect Pheromone industries for superior quality products, excellent customer service, and availability of technical expertise. Dr. Robert Bedoukian is currently serving on the board of directors of the Research Institute for Fragrance Materials (RIFM) and the International Fragrance Association of North America (IFRANA). He is a past chairman of the board of directors at RIFM.
About P2 Science
P2 Science has received financing from Elm Street Ventures, an early stage venture capital firm and Connecticut Innovations, Inc. The company has an exclusive licensing agreement for certain technology with Yale University and works in partnership with the Engineering firm, Desmet Ballestra, Italy in the design of P2’s process plant. P2’s CEO is Neil Burns, who prior to joining P2 had over 25 years experience in specialty chemicals. The scientific co-founders of the company, Professor Paul Anastas and Dr. Patrick Foley, worked together at the Yale Center for Green Chemistry and Green Engineering.
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