What does Novoloop do?
Novoloop is an advanced chemical recycling company that transforms post-consumer polyethylene into sustainable, high-performance polyols and polyurethanes using its proprietary Lifecycling technology. The technology supports applications in industries such as footwear, apparel, and automotive.
How much did they raise?
The company raised $21M in Series B funding led by Taranis, with no additional participant investors disclosed.
What are their plans for the money?
The funds will be used to accelerate the commercial growth of the Lifecycling technology and to support the launch of key customer programs, aiming to expand the adoption of sustainable materials across various industries.
What have they achieved so far?
Founded in 2015, Novoloop has already raised over $50M and holds 50 granted and pending patents across 18 regions, demonstrating significant progress in the field of circular chemical recycling.
