PLUSfoam Compound Technologies LLC, which has been involed in Patagonia, Vans, New Balance and Manduka launching recyclable sandals and other footwear, has raised capital to expand its manufacturing both abroad and in the United States.
The California-based Certified B Corporation said it has raised an undisclosed sum of capital from Acorn Innovestments and the Noël Group LLC as part of a strategic partnership that aims to help supercharge PLUSfoam’s U.S.-based manufacturing launch to service growing domestic production demands. PLUSfoam will use the funds to expand its international manufacturing footprint and to construct new facilities in the United States.
Established in 2007, PLUSfoam provides custom compounds for each manufacturer made from 100% recyclable formulations. The materials are used to replace traditional foams, plastics and rubber.
“We are extremely excited about this partnership with Acorn and the Noël Group and the shared vision we have for PLUSfoam’s next phase of growth,” said Jason Stanson, co-founder and COO of PLUSfoam. “Their investment provides the resources necessary to expand our material offerings, build our new manufacturing facilities and accelerate the company’s next generation research and development efforts.”
