Recycled Post-Consumer Polyethylene Synthesized Polyurethane Company, Partnered with On, Secures Over 150 Million Yuan in Series B Funding

The latest round of financing has brought Novoloop's total funding to over $50 million, marking the company's continued strong momentum—with sustained operations at its demonstration plant in India, a strategic partnership with China's world-leading polyurethane producer Huafeng, and progress in site selection for its first commercial facility. Supported by existing investor Valo Ventures, this round of financing also welcomed new investment from SHOP Limited, the family office of Bata Shoe Company.

Miranda Wang, CEO and co-founder of Novoloop, stated: "We are excited to partner with Taranis, whose strong commitment to plastic circularity and industrial decarbonization aligns with our ambition to promote Lifecycling globally. This round enables us to meet the growing demand across a broader supply chain by industrially scaling our pioneering technology, seeking cost-competitive circular polyurethane."

Taranis has deep operational and technical expertise in advancing pioneering industrial technologies and solutions, enabling the circular transformation of hard-to-abate industries. This investment affirms Novoloop's role at the forefront of circular materials innovation and recognizes its unique ability to generate scalable impact by replacing fossil-based inputs in everyday products.

David Sorin, Managing Director of Taranis, said: "As the world seeks to decarbonize materials and eliminate waste, Novoloop provides a breakthrough solution for one of the most challenging plastics to recycle — polyethylene. Their technology aligns with our mission to decarbonize heavy industries and expand circular infrastructure. We are proud to support the team in building a more circular, low-carbon plastic economy."

About Novoloop

Novoloop is a circular innovation company that utilizes its proprietary Lifecycling technology to transform hard-to-recycle plastics. By chemically upgrading post-consumer polyethylene into high-performance, low-carbon polyols and polyurethanes, Novoloop enables sustainable materials to be applied in footwear, apparel, automotive, and other fields. Founded in 2015 and headquartered 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 sneakers in 2022, and by 2025, the company was recognized as one of Time magazine's global top green tech companies.

Novoloop's Lifecycling platform transforms non-recyclable plastics such as bags and packaging into high-performance materials with a low carbon footprint. It uses chemical methods to alter post-consumer polyethylene to manufacture building materials, which are then used to produce thermoplastic polyurethane (TPU). Compared to traditional methods, this approach reduces carbon emissions by up to 41%.

Novoloop's Recycling+ platform uses post-industrial manufacturing waste to produce enhanced compounds that are superior to traditional recycled materials.

By coupling these two platforms, we have achieved true polymer-to-polymer recycling in the performance category.

Lifecycling Platform

① Sources of LDPE & HDPE Waste

When you throw away plastic bags or packaging (polyethylene), they eventually enter the municipal waste stream. Unfortunately, very little post-consumer polyethylene is recycled. Novoloop works with partners in the waste recovery and recycling value chain to source polyethylene waste, which is the raw material for Novoloop's lifecycled products. Novoloop pays for the waste, encouraging it to stay away from landfills, incinerators, or, worse, the ocean.

②Recycling

Original innovation

Apply revolutionary Accelerated Thermal Oxidative Decomposition (ATOD) technology to oxidize plastic waste, breaking it down into molecular monomers, purifying them, and synthesizing high-quality, brand-new polyols, which are typically produced from fossil fuels.

③Lifecycled TPU

The lifecycled polyol is subsequently used to manufacture lifecycled TPU, an optimized original quality embedded resin that meets the processing requirements of thousands of everyday applications.

Product Manufacturing

Novoloop provides lifecycled TPU resin for brands and their manufacturing partners, which is easy to integrate into standard manufacturing processes, including injection molding and extrusion.

Recycling+ Platform

TPU waste procurement

Novoloop systematically collects these leftover materials, realizing that manufacturing inevitably generates industrial waste.

②Recycling+

We meticulously conduct quality control on TPU scraps, then optimize their performance through blending to enhance consistency and performance.

③Recycled TPU

Our new product line performs better than recycled materials and can replace virgin fossil-derived materials. Recycled+ can be used as the sole material or main component in manufacturing products, with performance comparable to virgin materials.