Novoloop Secures $21 Million in Series B Funding to Scale Up Circular Performance Materials

Novoloop, a company at the forefront of advanced chemical recycling, has just completed its Series B funding round, with Taranis leading the charge. The funding will help Novoloop ramp up the commercial rollout of its proprietary Lifecycling technology—a process that converts used polyethene plastics into high-performance polyols and polyurethanes. It will also support the launch of several customer programs already in the pipeline.

This new investment brings Novoloop’s total capital raised to over $50 million, signalling a decisive vote of confidence in the company's momentum. Over the past year, Novoloop has initiated continuous operations at its demonstration facility in India, secured significant partnerships with global polyurethane producers in China, and made progress toward establishing its first full-scale commercial plant. The round also included fresh investment from SHOP Limited, the family office of the Bata Shoe Company, and saw continued support from long-time investor Valo Ventures.

Taranis, which specialises in scaling industrial tech for hard-to-abate sectors, brings both operational and technical expertise to the table. Its investment in Novoloop reinforces the company’s leadership in circular materials innovation and recognises its potential to replace fossil-based inputs in everyday consumer products at an industrial scale.

About Novoloop

Founded in 2015 and based in California, Novoloop is tackling one of the toughest challenges in sustainability: transforming post-consumer plastic waste into high-quality raw materials. Using its proprietary Lifecycling technology, Novoloop chemically upcycles discarded polyethene into low-carbon polyols and polyurethanes — materials used in a wide range of products, including footwear, apparel, and automotive parts. The company holds more than 50 granted and pending patents across 18 regions and has raised over $50 million to date. In 2022, its Lifecycled TPU appeared in the Cloudprime sneaker by On. By 2025, Novoloop was named one of TIME’s Top Greentech Companies in the world.

About Taranis

Taranis is part of the Perenco Group and focuses on backing innovative projects in sustainable energy, carbon management, and nature-based solutions. With roots in industrial operations, Taranis aims to align economic results with environmental responsibility, while creating a meaningful social impact.