Novoloop Raises $11 Million in Series A; Plans to Upcycle Plastic Waste

As individuals, we dedicate a big chunk of our lives towards few selected pursuits. These pursuits can vary quite heavily in their nature, thus helping us diversify over time and become more complete. Now, when you experience something of that sort on a personal level, it also tends to spill across a bigger picture. Such a dynamic then leads you into a reality where, all of a sudden, your boundaries are expanded, and if we contextualize this through an example, we cannot pick anything more fitting than technology. In fact, technology wasn’t done just after widening our horizons, but it also gave us the means to utilize every new possibility. Equipped with a never-seen-before advanced setup, the world would go on to make some huge strides over the next few years. However, despite the serious progression, we’ll forget to give certain areas their due attention. For instance, while we were reveling in tech-driven upgrades, we somehow failed to notice how our actions were negatively impacting our environment. As a result, this problem got so big that soon enough we were doubtful about the very future of human life. Fortunately, though, we are now finally witnessing a shift in focus, and it is put on display rather effectively by a recently-concluded funding round.

Novoloop, a US based startup, has officially raised $11 million in Series A financing. Led by Envisioning Partners, the round saw close participation from the likes of Valo Ventures, Bemis Associates, SOSV, Mistletoe, and TIME Ventures. According to certain reports, the funding will be used to commercialize company’s in-house technology called ATOD™ (Accelerated Thermal Oxidative Decomposition). ATOD basically break down polyethylene into chemical building blocks that come with every bit of potential to become a high-value product. It sounds exceedingly simple, but the approach does solve a major environmental concern. For years, we have struggled to upcycle polyethylene plastic waste, thus triggering overwhelmingly dangerous pollution levels. So, if Novoloop can achieve even some ground-level success, it will really alter our destructive trajectory.

“Polyethylene plastic is the most common packaging used but is extremely hard to chemically change and break apart and turn into useful things. We cracked this by essentially adopting a new chemical approach to oxidize this polyethylene,” said Miranda Wang, co-founder and CEO of Novoloop.

The company’s is set to make its commercial debut through a product named Oistre™, which is a  thermoplastic polyurethane (TPU) used in footwear, apparel, sporting goods, automotive and electronics. As per shared specifications, it will operate within a carbon footprint that is 46% smaller than, let’s say, a conventional TPU.

Share

Related

Is Data the New Brick and Mortar?

While nostalgia is one nice feeling, there is a...

Sports Taking the Tech Route

Rarely, we see a creation that ends up forming...

A Push to Make Your Journeys More Connected

Surely, there are many different things that enhance the...

Can KYC Improve ZTA and the User Experience?

Understanding ZTAUser convenience and security have long been at...

Building the EV Dream

While there are gazillion valuable elements in the human...

Marcus Evans Announces the Evolution Summit 2025: A Premier Gathering for Clinical Trial Leaders

San Francisco, CA – March 10-12, 2025 – Marcus...

A Long-Awaited Crypto Entry

There were many things that went into making human...

For the Greater Good

“With great power comes great responsibility!”This is a saying...

Latest

No posts to display

No posts to display