“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.
ADM has a 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.
“This exciting program with P2 adds to a growing pipeline of plant-based renewable chemicals at ADM,” said Paul Bloom, VP-process and chemical research, ADM. “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.”