Over 100 million MT of polyethylene (i.e., plastic bags, shipping packaging, and shampoo containers) is produced globally each year, and less than 10% is recycled, let alone upcycled. Novoloop chemically processes mixed and contaminated polyethylene waste that would otherwise go to landfill or be incinerated via a proprietary, low temperature process that transforms waste into good-as-new chemical building blocks that act as a platform for a variety of high performance sustainable materials. Notably, Novoloop’s novel process dramatically reduces the CO2e of end products by up to ~46%. Compared to traditional recycling methods, Novoloop’s process also has superior unit economics, even at cost parity with virgin materials, and requires less capital expenditure than other depolymerization technologies, enabling a more localized and distributed circular economy for plastics.
Q & A with Novoloop
- What motivated you to found your company?
I grew up in an immigrant family, where most of my family friends were entrepreneurs, and I dreamed about building a company. After visiting a waste transfer station as a high school student and seeing how much plastic is not recycled, my cofounder and I began to innovate solutions to solve the plastic problem at the industrial scale. What started out as a science fair turned into a TED talk, my college capstone project, pitch competitions, and eventually evolved into a meeting with Bill Liao at SOSV, who convinced and funded us to found Novoloop. Since then, we've evolved the technology quite a bit, but what moves us has remained the same since that day at the waste plant.
- Why did you choose to partner with Valo?
To bring a new industrial technology to scale and build a successful business, we look for investors who are mission-aligned and resourceful. Since the start of our relationship, Valo has been hands-on and helpful in connecting us with relevant stakeholders. They are leaders in climate investing with an impressive track record and a diverse team.