Latest news with #Novoloop
Business Upturn
12 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
a day 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
Yahoo
2 days ago
- Business
- Yahoo
Novoloop is making tons of upcycled plastic
Plastic has a recycling problem. Only about 9% of plastic gets recycled, and a majority of that waste comes from single use items like plastic grocery bags. It's partly a design problem — they're made to be discarded. But it's also a technology problem because recycling such films isn't easy, and the results usually aren't great. Novoloop says it has developed a way to take those troublesome plastics and turn them into something other companies actually want to buy. The California-based startup recently completed a test run of its demonstration plant that continuously upcycles waste plastic. The plant is capable of cranking out thermoplastic polyurethane (TPU) up to 70 metric tons per year that can be used in everything from sneakers to car seats. Demand has been strong enough that the company is preparing plans for a bigger facility. 'We're sold out. Literally every time we make something, we're sold out,' Miranda Wang, co-founder and CEO of Novoloop, told TechCrunch. On the heels of its demo production run, Novoloop has raised a $21 million Series B to finalize the design of its first commercial scale plant and begin construction, the company exclusively told TechCrunch. The new round was led by Taranis, an investment fund owned by oil-and-gas company Perenco, with participation from Valo Ventures and Shop Limited. The company doesn't have a location picked out for its commercial scale plant, but it's looking to build alongside an existing chemical plant that might have extra land and utilities available. The other company might own and operate the facility, with Novoloop supplying the process and marketing know-how. 'Sometimes it's hard for them to come across growth opportunities,' Wang said. 'This is a way for them to access that growth opportunity while not having to learn a totally different market that they have to sell things into because we're taking care of marketing and sales and the technology.' Novoloop previously raised a $21 million Series A, which helped the company refine its process to the point where running shoe manufacturer On used its upcycled material for the tread of its Cloudprime sneaker. The startup's upcycled material, which it calls Lifecycled TPU (thermoplastic polyurethane), is made by breaking down polyethylene plastic into its basic building blocks, called monomers. From there, it synthesizes new polymers that are more valuable than the initial polyethylene. The resulting material is more expensive than virgin, but 'within range,' Wang said. Wang added that Novoloop's experience with TPU has led the company to another business line, mechanically recycling TPU scraps from factory floors and adding 'performance enhancers' to make it perform more like virgin material. When it came time to build the demonstration plant, Novoloop priced out a facility in the U.S. But it quickly settled on India, where Aether Industries hadn't just built a pilot plant but 'a plant of pilots,' Wang said. 'They have a plant of just a whole bunch of pilots.' Aether's experience with small-scale chemical manufacturing plants — coupled with its ability to reuse equipment from dismantled pilots — means that building and operating Novoloop's plant would cost ten times less than simply building the small facility in the U.S. 'That is an environment we don't have here,' Wang said. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
TechCrunch
2 days ago
- Business
- TechCrunch
Novoloop is making tons of upcycled plastic
Plastic has a recycling problem. Only about 9% of plastic gets recycled, and a majority of that waste comes from single use items like plastic grocery bags. It's partly a design problem — they're made to be discarded. But it's also a technology problem because recycling such films isn't easy, and the results usually aren't great. Novoloop says it has developed a way to take those troublesome plastics and turn them into something other companies actually want to buy. The California-based startup recently completed a test run of its demonstration plant that continuously upcycles waste plastic. The plant is capable of cranking out thermoplastic polyurethane (TPU) up to 70 metric tons per year that can be used in everything from sneakers to car seats. Demand has been strong enough that the company is preparing plans for a bigger facility. 'We're sold out. Literally every time we make something, we're sold out,' Miranda Wang, co-founder and CEO of Novoloop, told TechCrunch. On the heels of its demo production run, Novoloop has raised a $21 million Series B to finalize the design of its first commercial scale plant and begin construction, the company exclusively told TechCrunch. The new round was led by Taranis, an investment fund owned by oil-and-gas company Perenco, with participation from Valo Ventures and Shop Limited. Novoloop's lab team Image Credits:Novoloop The company doesn't have a location picked out for its commercial scale plant, but it's looking to build alongside an existing chemical plant that might have extra land and utilities available. The other company might own and operate the facility, with Novoloop supplying the process and marketing know-how. 'Sometimes it's hard for them to come across growth opportunities,' Wang said. 'This is a way for them to access that growth opportunity while not having to learn a totally different market that they have to sell things into because we're taking care of marketing and sales and the technology.' Techcrunch event Save $200+ on your TechCrunch All Stage pass Build smarter. Scale faster. Connect deeper. Join visionaries from Precursor Ventures, NEA, Index Ventures, Underscore VC, and beyond for a day packed with strategies, workshops, and meaningful connections. Save $200+ on your TechCrunch All Stage pass Build smarter. Scale faster. Connect deeper. Join visionaries from Precursor Ventures, NEA, Index Ventures, Underscore VC, and beyond for a day packed with strategies, workshops, and meaningful connections. Boston, MA | REGISTER NOW Novoloop previously raised a $21 million Series A, which helped the company refine its process to the point where running shoe manufacturer On used its upcycled material for the tread of its Cloudprime sneaker. The startup's upcycled material, which it calls Lifecycled TPU (thermoplastic polyurethane), is made by breaking down polyethylene plastic into its basic building blocks, called monomers. From there, it synthesizes new polymers that are more valuable than the initial polyethylene. The resulting material is more expensive than virgin, but 'within range,' Wang said. Wang added that Novoloop's experience with TPU has led the company to another business line, mechanically recycling TPU scraps from factory floors and adding 'performance enhancers' to make it perform more like virgin material. When it came time to build the demonstration plant, Novoloop priced out a facility in the U.S. But it quickly settled on India, where Aether Industries hadn't just built a pilot plant but 'a plant of pilots,' Wang said. 'They have a plant of just a whole bunch of pilots.' Aether's experience with small-scale chemical manufacturing plants — coupled with its ability to reuse equipment from dismantled pilots — means that building and operating Novoloop's plant would cost ten times less than simply building the small facility in the U.S. 'That is an environment we don't have here,' Wang said.
