MENLO PARK, Calif., March 13, 2024--(BUSINESS WIRE)--Novoloop, a leading plastic circular economy technology company, selects Worley Consulting to conduct a Front-End Loading (FEL-2) preliminary engineering study for the company’s breakthrough LifecyclingTM process. The purpose of the study is to assess commercial project feasibility and provide a comparison framework for site selection.

The study evaluates a first-of-a-kind (FOAK) facility located on the US Gulf Coast, with a waste plastic processing capacity of 20,000 metric tons per annum. The facility would transform end-of-life post-consumer polyethylene waste into high-value dicarboxylic acid monomers. These monomers are integral in synthesizing virgin-quality performance materials such as LifecycledTM polyurethanes and polyol intermediates.

"We’re pleased to support Novoloop’s FOAK project, which will create circularity in everyday products. Worley has been at the forefront of partnering with advanced plastic recycling companies, and we are excited to work on Novoloop’s innovative technology."—Jennifer Lee, VP—Plastics Recycling, Worley.

In industry today, dicarboxylic acids, like adipic acid, are produced from fossil fuels across multiple steps. By contrast, Novoloop's FOAK technology converts plastic waste into dicarboxylic acid monomers in one reaction step. As a result, significant benefits are achieved in carbon footprint reduction and unit economics.

The FEL-2 study encompasses detailed evaluations of the technical, economic, and environmental aspects of a commercial project. A key deliverable is a Class IV capital cost estimate (-30%/+40%). Completing this milestone in the project development lifecycle enables a well-defined scope, cost, schedule, and roadmap for further process optimization.

"The completion of the FEL-2 study by Worley Consulting will solidify the project’s feasibility, ensuring that the foundational elements are in place for a seamless transition to the next stages of engineering." - Nedim Hasanbegovic, VP of Engineering, Novoloop.



As Novoloop moves forward with scaling up this technology, the company continues to seek industrial partnerships and collaborations that align with its vision of sustainability and innovation within a circular economy for plastics.

About Novoloop, Inc.

Novoloop is an emerging leader in plastic circularity, transforming post-consumer plastic waste into performance materials. Headquartered in Menlo Park, California, the venture-backed startup has raised more than $25M and is building and scaling new technologies to reinvent the chemical value chain. With a vision toward a circular plastic future, Novoloop is transforming waste into applications for footwear, sporting goods, and electronics industries.

To learn more, visit novoloop.com

About Worley

Worley is a global professional services company of energy, chemicals and resources experts. We partner with customers to deliver projects and create value over the life of their assets. We’re bridging two worlds, moving towards more sustainable energy sources, while helping to provide the energy, chemicals and resources needed now.

Worley Limited is headquartered in Australia and listed on the Australian Securities Exchange (ASX: WOR).

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