Novel Polymer gets $9.7M for environmentally friendly plastics
Polymer plastics like nylon, Bakelite and PVC are some of the most common materials used in modern society, but making them is not an environmentally friendly procedure. Novel Polymer Solutions is a company that promises to make new polymers that are strong, low cost, and have few harmful chemicals in them.
Novel Polymer’s materials include glues, paints and hard plastic materials. The company sells to the automotive, building, medical, paint and other industries.
The $9.7 million funding was provided as GBP £5 million to the United Kingdom-based company, according to VentureWire. Environmental Technologies Fund and Advantage Growth Fund were the backers.
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Tags: co:novel polymer solutions, deal, inv:advantage growth fund, inv:environmental technologies fund
Chris Morrison writes about cleantech and environmental issues for VentureBeat, with occasional forays into gaming and semantic technology. He got his start writing about tech for Business 2.0 magazine, but quickly realized new media was the ticket when that institution closed its doors in 2007. Chris has also covered public equities and regulatory issues. He originally hails from southern Virginia, graduated from Evergreen State College in Washington, and now lives in San Francisco.