A formaldehyde and formate reduced polyol process

Formaldehyde and formate reduced process for preparation of a di, tri or polyalcohol from formaldehyde and a second aldehyde in the presence of an alkaline catalyst. The process comprises an aldol condensation yielding a methylolaldehyde and a subsequent crossed Cannizzaro reaction yielding said di, tri or polyalcohol and formate. The Cannizzaro reaction comprises reacting said methylolaldehyde with formaldehyde at a molar ratio said methylolaldehyde to said formaldehyde of 1:0.3-0.9 in the presence of 0.3-0.9 mole of OH on 1 mole of said methylolaldehyde. The Cannizzaro reaction is interrupted when 0.2-0.8 mole of HCOO is generated on 1 mole of said methylolaldehyde and obtained reaction mixture is in a subsequent step subjected to a transfer hydrogenation in the presence of an effective amount of at least one transfer hydrogenation catalyst.