Novoloop, Inc. announced the construction of a pilot plant in India, marking a major milestone toward its vision of a truly circular world. This collaboration with Aether Industries will demonstrate the scalability of Novoloop's Lifecycling technology. This breakthrough technology transforms post-consumer plastic waste into virgin-quality monomers for the synthesis of virgin-quality, high-performance materials such as the company's Lifecycled thermoplastic polyurethane.

Novoloop's Lifecycling technology provides an economical and sustainable solution to hard-to- recycle plastics. By using highly scalable mechanisms of oxidation to convert post-consumer polyethylene into useful monomers for durable materials, Novoloop expects to provide its products at prices competitive with fossil-based products. Furthermore, an ISO-compliant lifecycle assessment shows that Novoloop monomers can realize a carbon footprint reduction of up to 91% when compared to the conventional process of producing adipic acid.

The project will unfold in phases, with the startup of initial operations commencing in First Quarter 2024 and culminating in a 70-metric ton annual plastic intake capacity by the end of 2024. This phased approach allows for meticulous data collection and optimization at each step, ensuring a robust and scalable operation. Products generated from this pilot plant will be made available to customers for trial and commercial release.