Novomer raises $14 million in Series B for renewable chemicals and polymers from CO2, other renewable feedstocks

In Massachusetts, Novomer announced that it has completed a Series B funding round of $14 million, led by OVP Venture Partners. The company makes low-cost plastics, polymers and other chemicals from renewable feedstocks including CO2 and carbon monoxide.

The company has raised $21 million to date, to exploit the potential of catalysts developed by Geoff Coates at Cornell University. Investors also participating in the round included Physic Venture Partners, Flagship Ventures and DSM Venturing. The company’s first product, a polypropylene carbonate sacrificial binder, was released last year.

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