Menlo Park, California – Novoloop has raised a further $10m in its Series A funding round. This is in addition to the $11m it announced in February.
The company developed a process to make TPU from waste polyethylene, which is being marketed under the brand name Oistre. This has potential in applications such as footw
The capital will be used to start developing industrial capabilities for the material. A feedstock pre-treatment unit will also be set up to assess the quality of post-consumer plastic waste that arrives in the plant.