Recycling plastic material waste into an innovative, sustainable product

Novelplast is a PET mechanical recycler that upcycles post-industrial and post-consumer PET waste materials into recycled PET (rPET). The company has developed a unique manufacturing process using in-house expertise to upcycle these materials into high quality rPET resin, suitable for supply into the sheet, fibre and strapping industries.

 

Founders

  • Neil Skeffington

Founders

  • Neil Skeffington
Dive Deeper

Founded in 2017, Novelplast is an Irish PET mechanical recycler that upcycles post-industrial and post-consumer PET waste materials into recycled PET (rPET) pellets.

The company has developed a unique manufacturing process using in-house expertise to upcycle low-grade PET/polyester feedstocks into high quality RPET, suitable for supply into the sheet, fibre and strapping industries.

Novelplast is leading the change in how low-grade PET/polyester feedstock materials can be recycled and repurposed,  serving its customers with a competitive recycled product.

By using those materials, the company is enabling increasingly efficient usage of resources thereby promoting further collection and recycling of plastic, saving 1000’s of tons of plastic material from landfill or incineration each year.

This is particularly timely considering regulatory and consumer pressures within a global recycled plastics market valued at roughly $50 billion globally in 2022 and expected to growth at a compound annual rate of roughly 5% (from 2023) to 2030, of which PET is about 20%.

Our investments

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 KIME Akva

 KIME Akva
Integrated Norwegian cod farming operation

aquaManager

aquaManager
Revolutionising aquaculture management

goodcarbon

goodcarbon
Tech-enabled platform for companies to build long-term carbon credit portfolios from nature-based assets

“This investment will enable Ocean 14 Capital to deliver the innovation needed to meet our climate and sustainability goals. The sustainable blue economy is now a key focus for us and this is a rallying cry for start-up and scale-up marine innovators globally to come forward and help avert the crisis in our oceans and return them to a healthy thriving state.”

Jean Castellini Minister of Finance and Economy of Monaco

“There has never been a more important time to invest in the oceans as a critical way to protect our planet and combat climate change. I am excited to back Ocean 14 Capital and their vision to make a significant positive impact in the blue economy.”

Niklas Zennström

“Builders Vision Fund is excited to be part of Ocean Capital Fund I’s first close. Builders is committed to developing the ecosystem of businesses focused on ocean health and sustainability. We believe the team at Ocean14 Capital have the drive and commitment to lead this impact-focused growth fund for oceans to meaningful market investments that can improve the health of our oceans.”

Peter Bryant Senior Program Officer, Builders Initiative

“Impact investments are an important part of Chr. Augustinus Fabrikker’s investment strategy and with the investment in Ocean 14 Capital Fund I we will total ten impact investments. Our interest in Ocean 14 Capital stems from the importance we see in ensuring sustainable business practices in the ocean to foster future prosperity for this vital part of our ecosystem alongside the unique capabilities we have identified within the team. For this reason, we are delighted to become a cornerstone investor in this exciting venture.”

Claus Gregersen Chief Executive Officer, Chr. Augustinus Fabrikker

“In line with SDG14, our key objective through the Flourishing Ocean’s initiative is to return our ocean to a healthy thriving state. To facilitate this, we are committed to ending overfishing; ending the dumping of plastic, heat and CO2 in our ocean; supporting the sustainable use of ocean resources; conserving key habitats; and facilitating world class research. This is why we are supporting a new venture where the Ocean 14 Capital Fund will invest in projects aligned to our objectives.”

Dr. Tony Worby Chief Executive Officer, Minderoo Foundation’s Flourishing Ocean