Article: Novomer gains new financing.(News)

Byline: Frank Esposito

Materials technology firm Novomer Inc. has won $14 million in funding from venture capital firm OVP Venture Partners.

In an Aug. 19 news release, officials with Waltham, Mass.-based Novomer and Kirkland, Wash.-based OVP said that the investment "will be used to accelerate growth as [Novomer] prepares for broad commercialization. Novomer late last year made its first commercial sale of a poly- propylene carbonate resin developed by the firm.

PPC is produced by combining propylene oxide with carbon di- oxide or carbon monoxide. Officials have said PPC uses 50 percent less fossil fuels than standard plastics. Potential PPC ...

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