Novoloop raises $21M in Series B funding to scale Lifecycling™ technology and advance circular, low-carbon polyurethane production globally.
Novoloop, a trailblazer in advanced chemical recycling, has announced the successful completion of its Series B funding round, securing $21 million. The round was led by Taranis, a firm dedicated to advancing industrial decarbonization and circularity. The fresh infusion of capital will fuel Novoloop’s efforts to commercially scale its proprietary Lifecycling™ technology. This breakthrough innovation transforms post-consumer polyethylene—a plastic notoriously difficult to recycle—into high-performance polyols and polyurethanes, materials used across a range of industrial and consumer applications.
This funding milestone raises Novoloop’s total capital raised to over $50 million, reflecting the company’s sustained growth trajectory. With this backing, the company aims to expand the deployment of its Lifecycling™ platform, enabling more sustainable alternatives to petroleum-based components in manufacturing. The funds will also support the roll-out of new customer programs and further development of its supply chain partnerships, particularly in markets demanding high-quality, circular polyurethane solutions.
Notably, Novoloop has already demonstrated its operational capabilities by achieving continuous production at its pilot plant in India. Additionally, it has secured key strategic partnerships with globally recognized polyurethane manufacturers in China, laying the groundwork for broader commercial deployment. The company is also actively working on selecting a site for its first full-scale commercial facility.
In addition to Taranis, the Series B round saw renewed support from Valo Ventures, an existing investor, and welcomed new capital from SHOP Limited, the Family Office of the Bata Shoe Company. This diverse investment base underscores growing confidence in Novoloop’s potential to drive impactful change in materials innovation.
Miranda Wang, CEO and Co-Founder of Novoloop, expressed enthusiasm about the new partnership. “We’re excited to team up with Taranis, whose values around circularity and decarbonization are strongly aligned with our vision,” she said. “This funding positions us to scale our novel Lifecycling™ process and meet the rising demand for circular, cost-effective polyurethane materials.”
Taranis brings not only financial support but also considerable technical and operational experience in scaling first-of-a-kind technologies. The firm’s investment highlights Novoloop’s role as a leading innovator in sustainable materials and acknowledges its ability to replace fossil-derived ingredients in commonly used products with environmentally responsible alternatives.
David Sorin, Managing Director of Taranis, emphasized the significance of Novoloop’s contribution: “As global industries seek to reduce waste and decarbonize materials, Novoloop provides a game-changing solution for upcycling polyethylene. Their technology directly aligns with our mission to advance circular systems and build a low-carbon plastics future.”
This successful Series B round reinforces Novoloop’s position at the forefront of sustainable plastics innovation, with the momentum to significantly influence the transition toward a more circular and low-impact materials economy.
