Novoloop (formerly known as Biocellection) converts plastic waste into a polyester-based thermoplastic Polyurethane (TPU) using its patented Accelerated Thermal Oxidative Decomposition (ATOD) technology.
The company’s first performance material using the ATOD platform is a polyester-based Thermoplastic Polyurethane (TPU) named Oistre (previously known as XIRCOistre launched in February 2021). The resulting biomaterial contains up to 50% post-consumer polyethylene and can be used in a variety of applications such as footwear, apparel, labels, adhesives, automotive, and additive manufacturing.
Key customers and partnerships
In September 2022, Novoloop announced that its TPU was featured in Swiss shoe manufacturer On’s latest running shoe, the “CloudPrime”. In February 2022, Novoloop also partnered with its investor Bemis Associates, which expects to use Novoloop’s Oistre material on its apparel bonding solutions, such as seam tapes, in high-performance outerwear.
In January 2024, Novoloop announced plans to build a pilot plant in India in collaboration with Aether Industries, an Indian chemical company. Initial operations are set to begin in Q1 2024, with a target capacity of processing 70 tons of plastic by the end of 2024.
Funding and financials
The company raised a total of USD 21 million in Series A funding, securing USD 11million in February 2022, and USD 10 million in June 2022.
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