Elm Street Ventures announced today that P2 Science, Inc., the portfolio company it co-founded with Yale University, has closed on a $9.6 million Series B financing round. The new equity will enable P2 Science to build its first commercial production plant in the New Haven area, close to its headquarters in Woodbridge, CT.

P2 Science is a specialty chemicals company with a unique flow chemistry process that converts renewable feedstocks into high-value products and intermediates, with an initial focus on the flavors and fragrances industries.​

“The potential for P2’s technology is enormous, and we are delighted that the company’s first plant will be located in the New Haven area,” said Elm Street’s Managing Partner Rob Bettigole.