Commonly known as glycerol, its chemical formula is (CH2OH)2. It is a colorless sweet liquid and is the simplest saturated diol. It is miscible with water and acetone, but has a lower solubility in ethers. It has low toxicity to animals. Ethylene glycol is used as a solvent, antifreeze agent, and a raw material for synthetic polyester. The polymer of ethylene glycol, polyethylene glycol (PEG), is a phase transfer catalyst.