Plastic waste poses a significant environmental challenge, with only about 9% of plastic being recycled globally. A substantial portion of this waste originates from single-use items like plastic grocery bags, which are notoriously difficult to recycle due to their design and material properties. Addressing this issue, Novoloop, a California-based startup, has developed an innovative solution to transform these challenging plastics into valuable, high-performance materials.
Innovative Upcycling Process
Novoloop’s proprietary technology, known as Accelerated Thermal Oxidative Decomposition (ATOD™), chemically breaks down post-consumer polyethylene—commonly found in plastic bags, bubble wrap, and packaging—into essential chemical building blocks. These monomers are then re-synthesized into thermoplastic polyurethane (TPU), a versatile material used in various industries, including footwear, automotive, and electronics. This process not only diverts plastic waste from landfills and incinerators but also produces materials with a carbon footprint up to 46% smaller than conventional TPUs derived from fossil fuels.
Demonstration Plant and Production Capacity
Recently, Novoloop completed a successful test run of its demonstration plant, which operates continuously to upcycle waste plastic. The facility has the capacity to produce up to 70 metric tons of TPU annually. The demand for Novoloop’s upcycled TPU has been robust, leading the company to plan for a larger commercial-scale facility to meet market needs. Miranda Wang, co-founder and CEO of Novoloop, stated, We’re sold out. Literally every time we make something, we’re sold out.
Strategic Partnerships and Product Integration
In a notable collaboration, Novoloop partnered with Swiss sports brand On to develop the Cloudprime running shoe, featuring an outsole made from Novoloop’s upcycled TPU. This partnership underscores the material’s performance capabilities, as it has passed rigorous laboratory and athlete wear testing. On’s co-founder and executive co-chairman, Caspar Coppetti, emphasized the importance of such collaborations, stating, Saving the planet is a team sport. This partnership highlights the potential for integrating sustainable materials into mainstream consumer products without compromising quality.
Funding and Future Expansion
To support its expansion plans, Novoloop recently secured a $21 million Series B funding round led by Taranis, an investment fund owned by oil-and-gas company Perenco, with participation from Valo Ventures and Shop Limited. This funding will enable the company to finalize the design of its first commercial-scale plant and commence construction. The new facility aims to significantly increase production capacity, further addressing the global plastic waste crisis by providing sustainable material alternatives.
Environmental Impact and Market Potential
Novoloop’s technology offers a promising solution to the plastic waste problem by converting low-value, hard-to-recycle plastics into high-value materials. The company’s upcycled TPU not only matches the performance characteristics of virgin TPUs but also offers a reduced carbon footprint, making it an attractive option for industries seeking sustainable material solutions. As Novoloop continues to scale its operations, it stands to make a substantial impact on reducing plastic waste and promoting a circular economy.
