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Business Upturn
17 hours ago
- Business
- Business Upturn
Novoloop Raises $21 Million Series B Funding Led by Taranis to Scale Circular Performance Materials
Menlo Park, Calif., United States: Novoloop, a pioneer in advanced chemical recycling, announced today the successful close of its Series B funding round, led by Taranis. The investment will accelerate Novoloop's commercial scale-up of its proprietary Lifecycling™ technology, which transforms post-consumer polyethylene into high-performance polyol and polyurethane, and support the launch of key customer programs. This press release features multimedia. View the full release here: Novoloop successfully closes series B funding round led by Taranis This latest funding round brings Novoloop's total capital raised to over $50 million and marks a continuation of the company's significant momentum—demonstrated by achieving continuous operations at its demonstration plant in India, strategic partnerships with world-leading polyurethane producers in China, and progress toward siting its first commercial facility. With continued backing from existing investor Valo Ventures, the round also welcomed new investment from SHOP Limited, the Family Office of the Bata Shoe Company. 'We are thrilled to partner with Taranis, whose deep commitment in plastic circularity and industrial decarbonization aligns with our ambition to scale Lifecycling™ globally,' said Miranda Wang, CEO and Co-Founder of Novoloop. 'This round positions us to meet growing demand from a wider supply chain seeking circular and cost-competitive polyurethanes through the industrial scale-up of our first-of-a-kind technology.' Taranis brings deep operational and technical expertise in scaling pioneering industrial technologies and solutions that enable the circular transformation of hard-to-abate sectors. The investment affirms Novoloop's role at the forefront of circular materials innovation and recognizes its unique ability to deliver scalable impact by displacing fossil-based inputs in everyday products. 'As the world looks to decarbonize materials and eliminate waste, Novoloop offers a breakthrough solution for upcycling polyethylene—one of the hardest plastics to recycle,' said David Sorin, Managing Director of Taranis. 'Their technology fits within our mission to decarbonize heavy industries and scale circular infrastructure. We are proud to back the team in building a more circular, low-carbon plastics economy.' About Novoloop Novoloop is a circular innovation company transforming hard-to-recycle plastics with its proprietary Lifecycling™ technology. By chemically upcycling post-consumer polyethylene into high-performance, low-carbon polyols and polyurethanes, Novoloop enables sustainable materials for applications in footwear, apparel, automotive, and more. Founded in 2015 and based in California, the company has raised over $50 million and holds 50 granted and pending patents across 18 regions. Novoloop's Lifecycled™ TPU debuted in On's Cloudprime sneaker in 2022, and in 2025, the company was named one of TIME's World's Top Greentech Companies. Learn more at About Taranis Taranis is an investment and impact project development entity of the Perenco Group. Its mission is to research, finance and operate innovative initiatives in the fields of sustainable energy, carbon management and nature-based solutions. Drawing on Perenco's industrial expertise, Taranis aims to reconcile economic performance and environmental responsibility, while generating a tangible social impact. For more information, visit View source version on Disclaimer: The above press release comes to you under an arrangement with Business Wire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
Business Wire
2 days ago
- Business
- Business Wire
Novoloop Raises $21 Million Series B Funding Led by Taranis to Scale Circular Performance Materials
MENLO PARK, Calif.--(BUSINESS WIRE)-- Novoloop, a pioneer in advanced chemical recycling, announced today the successful close of its Series B funding round, led by Taranis. The investment will accelerate Novoloop's commercial scale-up of its proprietary Lifecycling™ technology, which transforms post-consumer polyethylene into high-performance polyol and polyurethane, and support the launch of key customer programs. This latest funding round brings Novoloop's total capital raised to over $50 million and marks a continuation of the company's significant momentum—demonstrated by achieving continuous operations at its demonstration plant in India, strategic partnerships with world-leading polyurethane producers in China, and progress toward siting its first commercial facility. With continued backing from existing investor Valo Ventures, the round also welcomed new investment from SHOP Limited, the Family Office of the Bata Shoe Company. 'We are thrilled to partner with Taranis, whose deep commitment in plastic circularity and industrial decarbonization aligns with our ambition to scale Lifecycling™ globally,' said Miranda Wang, CEO and Co-Founder of Novoloop. 'This round positions us to meet growing demand from a wider supply chain seeking circular and cost-competitive polyurethanes through the industrial scale-up of our first-of-a-kind technology.' Taranis brings deep operational and technical expertise in scaling pioneering industrial technologies and solutions that enable the circular transformation of hard-to-abate sectors. The investment affirms Novoloop's role at the forefront of circular materials innovation and recognizes its unique ability to deliver scalable impact by displacing fossil-based inputs in everyday products. 'As the world looks to decarbonize materials and eliminate waste, Novoloop offers a breakthrough solution for upcycling polyethylene—one of the hardest plastics to recycle,' said David Sorin, Managing Director of Taranis. 'Their technology fits within our mission to decarbonize heavy industries and scale circular infrastructure. We are proud to back the team in building a more circular, low-carbon plastics economy.' About Novoloop Novoloop is a circular innovation company transforming hard-to-recycle plastics with its proprietary Lifecycling™ technology. By chemically upcycling post-consumer polyethylene into high-performance, low-carbon polyols and polyurethanes, Novoloop enables sustainable materials for applications in footwear, apparel, automotive, and more. Founded in 2015 and based in California, the company has raised over $50 million and holds 50 granted and pending patents across 18 regions. Novoloop's Lifecycled™ TPU debuted in On's Cloudprime sneaker in 2022, and in 2025, the company was named one of TIME's World's Top Greentech Companies. Learn more at About Taranis Taranis is an investment and impact project development entity of the Perenco Group. Its mission is to research, finance and operate innovative initiatives in the fields of sustainable energy, carbon management and nature-based solutions. Drawing on Perenco's industrial expertise, Taranis aims to reconcile economic performance and environmental responsibility, while generating a tangible social impact. For more information, visit
Business Wire
2 days ago
- Business
- Business Wire
Elemental Advanced Materials Closes $20M to Scale Production of Carbon Nanomaterials, Clean Hydrogen, and Recovered Critical Minerals
HOUSTON--(BUSINESS WIRE)--Elemental Advanced Materials, a leader in low-emission carbon nanomaterials and hydrogen production, today announced the close of a $20 million funding round led by Taranis, a climate technology investment firm. 'Elemental's platform not only reduces carbon intensity and waste but also creates value from discarded resources. That's the kind of circular innovation the world urgently needs," said David Sorin, Managing Director of Taranis. Share The funding will enable Elemental to scale its patented, single-step manufacturing process that converts hydrocarbon-rich waste – such as plastics, tank bottoms, and gas by-products – into high-performance carbon nanomaterials and clean hydrogen. This CO₂e-neutral process also supports the recovery of critical minerals from end-of-life electronics, further contributing to circularity in supply chains. 'Our mission is to transform waste hydrocarbons into high-purity carbon nanomaterials and hydrogen,' said Ian Bishop, President and Co-Founder of Elemental. 'This funding will allow us to scale production and deliver performance materials at the cost, quality, and volume industry demands, while expanding our capabilities to recover critical minerals from e-waste.' Elemental's carbon nanomaterials, including graphene and carbon nano-onions, enhance the performance of batteries, capacitors, and electronics. These materials also increase durability, thermal and electrical conductivity, and EMI shielding of cement, resins, composites and lubricants– while significantly reducing their embedded emissions. 'Taranis backs technologies with the power to bend the industrial emissions curve,' said David Sorin, Managing Director of Taranis. 'Elemental's platform not only reduces carbon intensity and waste but also creates value from discarded resources. That's the kind of circular innovation the world urgently needs.' About Elemental Advanced Materials Elemental is a Houston-based advanced materials company turning waste plastics, gases, and hydrocarbons into high-performance carbon nanomaterials and hydrogen at commercial scale. Its patented, CO₂e-neutral process replaces toxic, resource-intensive legacy systems and supports sustainable industrial innovation. Learn more at About Taranis Taranis is an investment and impact project development entity of the Perenco Group. The mission is to research, finance and operate innovative initiatives in the fields of sustainable energy, carbon management and nature-based solutions. Drawing on Perenco's industrial expertise, Taranis aims to reconcile economic performance and environmental responsibility, while generating a tangible social impact. The investment in Elemental was made through Taranis Carbon Ventures, Taranis' fund investing in breakthrough technologies that accelerate the transition to a sustainable low-carbon future. To learn more, visit
