-
Categories
-
Pharmaceutical Intermediates
-
Active Pharmaceutical Ingredients
-
Food Additives
- Industrial Coatings
- Agrochemicals
- Dyes and Pigments
- Surfactant
- Flavors and Fragrances
- Chemical Reagents
- Catalyst and Auxiliary
- Natural Products
- Inorganic Chemistry
-
Organic Chemistry
-
Biochemical Engineering
- Analytical Chemistry
- Cosmetic Ingredient
-
Pharmaceutical Intermediates
Promotion
ECHEMI Mall
Wholesale
Weekly Price
Exhibition
News
-
Trade Service
The oversubscription was nearly double the $11 million initial funding announced in February
.
The first round of funding was led by Envisioning Partners
.
Miranda Wang, CEO of Novoloop, said: “This funding round brings together mission-driven financial investors and industry strategists who believe in our vision for a circular economy for plastics
.
We are excited to leverage their resources and markets around the world by leveraging their channel to turn this vision into reality
.
”
Investors in this round include investors from the decarbonized energy, textile and construction sectors from Europe, Asia and the US
.
In addition to Mistletoe in Singapore, investors include: Valo Ventures in Finland, SOSV in New Jersey, Drive Catalyst in Taiwan, Alante Capital in Santa Barbara, California, and S Cap in New York
.
Mistletoe founder Taizo Son said: "Leading this funding round is obvious
.
After seeing Novoloop emerge from R&D (research and development) with a product that solves a real-world problem, Mistletoe has a financial and environmental impact on the company that will be created.
Have firm confidence
.
"
Son added: "We're already looking at how to amplify this impact where it's really needed, like in Asian countries, where economies are growing fast and waste is a big problem
.
"
Novoloop utilizes its ATOD technology to manufacture high-performance chemicals and materials from polyethylene (PE), a commonly used but infrequently recycled plastic
.
The company says its first product, Oistre, is the world's only thermoplastic polyurethane (TPU) made from post-consumer (PCR) waste and has performance comparable to TPU made from petrochemicals
.
The company will use the funding to begin developing industrial capacity, with key initiatives including scaling up pilot production to make Oistre more accessible to customers, and will also build a feedstock pretreatment unit to assess the quality of PCR waste from material recycling sources
.
A spokesman for Hanwha Solutions said: "Novoloop's technology is solid and unique
.
We look forward to working with Novoloop to increase the carbon content of waste and promote a circular economy
.
"
