Novomer develops polymers, plastics and other chemicals from renewable feedstocks. The company is pioneering a family of competitively priced high-performance green plastics and polymers. Using proprietary catalyst technologies and a scientific team, Novomer converts carbon dioxide or carbon monoxide into a variety of industrial products. Its technology enables cost-effective transformation of CO2/CO into commercial chemicals and materials. Novomer is based in Waltham, MA. The company recently raised $10 million in a venture capital round, according to an SEC filing. Novomer makes catalysts and polymer chemistry that funnel CO2 and CO into plastics and other marketable chemicals, backed by an extensive patent estate. Its lead compound, NB-180, is a colorless thermoplastic that decomposes into eco‑friendly by‑products and is positioned for electronics and ceramics applications. The company generates revenue by licensing its technology to polymer manufacturers and by producing materials, and is working with several brand companies to refine processes for broader commercial use. Novomer buys carbon from third parties, mostly industrial and second‑hand sources, aiming to replace petroleum in up to 50% of plastic and polymer retail products and to sequester carbon in consumer goods. CEO Jim Mahoney says the materials can be cheaper and require less material, and the company sees environmental and commercial upside if cap‑and‑trade or carbon taxes expand. Novomer grew from a two‑person Cornell University lab spinout to a 23‑employee Boston, Mass. company.

Total raised

$24M

Funding rounds

2

Latest round

Equity

Latest activity

Oct 2011