BASF, others back P2 Science

The renewable chemical company P2 Science has closed a $9.6 million series B financing round that included BASF Venture Capital. The company says it will use the proceeds to build its first commercial plant, in the New Haven, Conn., area. Cofounded by Yale University, Yale scientists, chemical industry veteran Neil Burns, and Elm Street Ventures, P2 uses ozonolysis and flow chemistry to convert feedstocks such as vegetable oil and forestry-derived terpenes into specialty chemicals.