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Boston-based Novomer Inc. has received an $800,000 grant from New York State Energy Research and Development Authority to commercialize its green plastics products in two upstate New York facilities.
The grant is the second for Boston-based Novomer from NYSERDA. Last year, the company received a $150,000 grant to perform feasibility studies on its polyproylene carbonate compounds for use in packaging and coating applications. The company claims its materials use half as much petroleum as traditional plastics used in similar applications while sequestering carbon dioxide gases.
“Novomer’s ability to reduce petroleum usage by at least 50 percent — while also converting CO2 from pollution into valuable materials — has the potential to transform the plastics and materials landscape on a global scale,” said Novomer CEO Jim Mahoney in a statement.
The company will work with Kodak Specialty Chemicals and Rochester Institute of Technology to provide equipment and space to create prototype applications for the polymer, and Novomer will use the funding to add R&D and production jobs in Rochester, N.Y., and at its existing R&D facility in Ithaca, N.Y. Company officials did say business development staff in Boston are supporting the grant with staff and other resources.
In August, Novomer closed a $14 million Series B financing round with OVP Venture Partners, Physic Venture Partners, Flagship Venture Partners and DSM Venturing.
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