Plastic recycling startup Novoloop’s upcycled plastic takes a step closer to production after the company signed a deal with a major manufacturer to scale its innovative thermoplastic polyurethane (TPU). This move marks a major milestone for the Menlo Park-based startup.
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The agreement helps Novoloop navigate the notorious “valley of death” that many climate tech startups face—when promising technology exists but revenue is still limited. Hardware-focused startups, like Novoloop, often struggle most in this critical phase.
Under the new deal, Novoloop will supply Huide Science and Technology with a key chemical building block, or polyol, used to make TPU. What makes this material special is that it comes from post-consumer polyethylene waste, such as plastic bags—one of the hardest plastics to recycle.
TPU is a versatile plastic found in products ranging from running shoes to medical devices. By turning difficult-to-recycle plastics into valuable materials, Novoloop is advancing both sustainability and commercial viability.
“For this product line, we have essentially achieved what would be the commercial relationship,” Novoloop co-founder and CEO Miranda Wang told TechCrunch. The deal positions Novoloop to ramp up production while staying true to its mission of transforming plastic waste into high-performance materials.
This milestone underscores how climate tech startups are finding ways to turn innovative recycling technologies into commercially viable solutions. Novoloop’s progress could inspire similar startups to overcome the “valley of death” and bring circular economy solutions to the market.
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