Novoloop is making tons of upcycled plastic

Novoloop, a California-based startup, is addressing the plastic recycling challenge by continuously upcycling waste plastic into thermoplastic polyurethane (TPU) at its demonstration plant, producing up to 70 metric tons annually. This upcycled TPU, branded as Lifecycled TPU, is created by breaking down polyethylene into monomers and synthesizing new, more valuable polymers suitable for products like sneakers and car seats. Demand for Novoloop’s material has been strong, prompting plans for a larger commercial-scale facility. The company recently raised $21 million in a Series B funding round led by Taranis, with participation from Valo Ventures and Shop Limited, to finalize the design and begin construction of this plant. Novoloop aims to build the commercial plant alongside an existing chemical facility, leveraging available land and utilities while providing technology and marketing expertise. The startup also explores mechanically recycling TPU scraps from factory floors, enhancing performance to rival virgin materials. For cost efficiency, Novoloop chose to build its demonstration plant