Bemis Associates Announces Major Investment In Novoloop

SHIRLEY, Mass. — February 15, 2022 — Bemis Associates fundamentally believes it is its corporate responsibility to commit to environmental sustainability by measuring and reducing all scopes of emissions across global operations. One approach, which it believes is critical to achieving their reduction targets, is through participating in both the funding and R&D of new sustainable technologies. As these technologies grow and scale, they will be integrated into the product line, allowing Bemis to decarbonize their supply chain and provide customers with innovative sustainable solutions.

Bemis’s investment in Novoloop is part of Novoloop’s Series A financing. In addition, Bemis is also actively engaging in joint development projects with relevant firms to help increase the speed and scale of rolling out new sustainable products and technologies. By strategically investing in environmentally focused technologies, Bemis will continue to solidify its position as a leader in sustainability and to offer a variety of environmentally friendly products to the market. These efforts will help Bemis move farther away from relying on virgin petroleum-based inputs and will enable Bemis to be first to market with new advancements. Bemis has a long history of identifying strategic partnerships, new products, and industry opportunities to sustain growth and longevity. This exciting new partnership with advanced upcycling startup, Novoloop is just one more example.

Novoloop has been a pioneer in the chemical transformation of plastic waste into high-performance chemicals and materials since 2015. The company’s proprietary process technology, ATOD™ (Accelerated Thermal Oxidative Decomposition), breaks down polyethylene into chemical building blocks that can be synthesized into high-value products. Polyethylene is the most widely used plastic today yet only 9 percent is recycled and virtually none is upcycled.

Novoloop’s technology can upcycle carbon content found in common plastic waste like grocery bags, packaging, and agricultural plastics that is too low value for material recovery facilities to bale and sell. Instead, the plastics are deposited into landfills or incinerators. Novoloop’s ATOD technology aims to increase commercial demand for waste polyethylene.

The first product based on Novoloop’s ATOD process is Oistre™ (OYST-rah), a thermoplastic polyurethane (TPU) for use in high-performance applications such as footwear, apparel, sporting goods, automotive, and electronics. Oistre is the first TPU made from post-consumer polyethylene waste that matches the performance characteristics of virgin TPUs made from petrochemicals. At the same time, based on initial screening life-cycle analysis, Oistre’s carbon footprint could be up to 46-percent smaller than conventional TPUs. Together, the companies will introduce Oistre into the Bemis product portfolio as a first step to replace virgin petroleum-based thermoplastic polyurethane.

Novoloop’s technology offers an opportunity for a significant impact. Not only would scaling Novoloop’s technology throughout the Bemis value chain have a meaningful reduction in carbon footprint, it would also mean that a previous source of waste would be diverted from landfill and upcycled into a more sustainable Bemis product.

Posted: February 15, 2022

Source: Bemis Associates Inc