Archer Daniels Midland Company (ADM) and P2 Science, Inc. (P2) have announced the execution of a Memorandum of Understanding (MOU), in which the companies will build on their shared expertise to develop commercial opportunities for plant-based monomers, polymers and ingredients for personal care and flavors and fragrances.
ADM has a portfolio of plant-based feedstocks that include carbohydrates, vegetable oils and terpenes, while P2 has developed a collection of patented green chemistry process technologies that convert renewable feedstocks into 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 their shared knowledge of plant-based, renewable materials and chemicals together with the aim of developing business opportunities in the growing market for this material type. 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,” P2 CEO Neil Burns said. “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.”
“This exciting program with P2 adds to a growing pipeline of plant-based renewable chemicals at ADM,” Paul Bloom, ADM vice president, process and chemical research, said. “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."