Consumers can expect to see LS9''s product replace the existing petrochemicals in Procter & Gamble''s soaps and detergents within two to three years, the story stated.
Bill Haywood, chief executive officer (CEO) of LS9, said: "It''s a great validation of LS9''s technology. Procter & Gamble has such a wide, deep reach in the U.S. and around the world."
No financial details about the venture to incorporate "single-cell organisms that convert low-cost feedstock into renewable petroleum products" into some of Procter & Gambles products have been released, the story noted.
Prior to signing a deal with Procter & Gamble, LS9, a 58-person private company, raised $20 million in venture capital to fund its operation, the story added.