Plastic has a recycling problem. Only about 9% Plastic gets recycled, and A Majority That waste comes from plastic grocery bags such as single use items. This is partly a design problem – they are discarded. But it is also a technology problem because recycling such films is not easy, and the results are usually not great.
Novoloop It is said that it has developed a way to take plastic with trouble and convert them into some other companies that really want to buy.
California -based startup recently completed a test run of its performance plant which continues to raise waste plastic. The plant is capable of crank thermoplastic polyurethane (TPU) up to 70 metric tons per year, which can be used in everything from sneakers to car seats. The demand has been strong that the company is preparing a plan for a big facility.
Novolup co-founder and CEO Miranda Wang said, “We are sold out. Every time we make something, we are sold,” Novolup’s co-founder and CEO Miranda Wang told Techcrunch.
On the heels of its demo production run, Novolup has raised a $ 21 million series B to finalize the design of its first commercial scale plant and start construction, the company specifically explained Techcrunch. The new era was headed by Tarnis, an investment fund owned by oil-and-gaid company Parenko, with the participation of Valo Ventures and Shop Limited.
The company does not have a location for its commercial scale plant, but it wants to build with an existing chemical plant in which additional land and utilities may be available. With the process of the second company Novolup and the supply of marketing, the convenience may own and operate.
“Sometimes it is difficult for them to get into development opportunities,” Wang said. “This is a way for them to reach that development opportunity, while a completely different market is not to learn that they will have to sell things because we are taking care of marketing and sales and technology.”
Novolup first picked up $ 21 million series AWhich helped the company to refine its process at the point, where the shoe manufacture CloudPrime sneaker,
Polyethylene plastic is made by breaking polyethylene plastic into its basic building blocks, called monomers. From there, it synthesizes the new polymer which are more valuable than the initial polyethylene. The resulting material is more expensive than virgin, but “within the range,” Wang said.
Wang said that the experience of Novolup with TPU has taken the company into another business line, mechanically recycling TPU scrap from the factory floor and added “performance” to perform more like virgin materials.
When the time came for the construction of the plant, Novolup chose the price of a facility in the US, but it quickly settled in India, where the Ather Industries had not built just a pilot plant, but “a plant of pilots”, Wang said. “They have a complete herd of pilots.”
Including the ability to reuse equipment from the experience-smooth pilots with small-scale chemical manufacturing plants-this means that the construction and operation of the Novoloop plant will be ten times less than the construction of small feature in the US.
“This is an atmosphere that we do not have,” Wang said.
