New York, NY, May 5, 2026 – Closed Loop Partners today announces a $5 million loan to Supersede, an engineered building materials company transforming structural sheathing across marine, RV, specialty vehicles, modular housing, and commercial and residential construction. The catalytic loan comes at a pivotal growth stage for Supersede, enabling increased production capacity and geographic reach as demand for their product accelerates. The loan will finance manufacturing equipment at the Arizona-based company’s new facility in the Midwest, which will launch in summer 2026, thereby strengthening end markets for plastic resins, including polypropylene (PP).

This is Closed Loop Partners’ second investment in Supersede. In 2025, Closed Loop Partners’ Ventures group identified the opportunity to invest in the innovative circular solution for recycled resins, participating in Supersede’s $10 million seed round as the company developed its manufacturing operations. As market demand for their product rapidly increased, Closed Loop Partners’ Catalytic Capital & Private Credit group identified the opportunity to further accelerate the company’s growth, deploying a catalytic loan to expand its production capacity.

The investment from Closed Loop Catalytic Capital & Private Credit facilitates  increased production of the Supersede Marine Board, an engineered panel crafted from recycled industrial plastic waste and engineered as a direct substitute for marine-grade plywood and OSB. The Supersede Marine Board is a compelling alternative to conventional plywood and OSB, which are resource-intensive, prone to water damage and quality inconsistencies, reliant on formaldehyde-based binders and lacking in a viable end-of-life pathway—resulting in the majority of plywood ending up in landfills.

The Supersede Marine Board is 100% waterproof, rot-proof, mold-proof and fully recyclable, outperforming plywood and OSB across key performance metrics, including water resistance, fastener retention, dimensional stability and long-term durability.

Designed to integrate seamlessly into existing manufacturing processes, the Supersede Marine Board also eliminates multiple production steps—such as sanding, sealing and drying—reducing labor costs and increasing throughput. By design, the material avoids toxic chemicals such as formaldehyde and chromated copper arsenate, improving safety for both workers and end users.

Against a backdrop of geopolitical uncertainty, tariffs and mounting climate risk driving disruptions across global supply chains and material markets, the opportunity for alternative materials is growing. Volatility in lumber markets has prompted boat, RV and modular home manufacturers to seek more stable alternatives to marine-grade plywood, calling for increased production of Supersede’s product.

“We are at a key moment of expansion for Supersede, as the need for more stable and resilient materials grows across the industries we serve. Accessing the capital required to scale production is a key accelerant, enabling us to meet market demand,” said Sean Petterson, Supersede’s Co-Founder and CEO. “We are proud to work with Closed Loop Partners, which has been a trusted partner since our early development. Their strategic capital, network of partners and deep expertise in material innovation, recycling and operational scale, is critical to our next phase of growth.”

“Expanding the capacity of end manufacturers like Supersede is a core part of building a circular economy, and an area of growing investor interest. Products manufactured with recycled resins strengthen recycling end markets, which power more stable recycling supply chains,” said Tazia Smith, CEO of Closed Loop Capital Management. “We seek to capture that opportunity across our investment strategies.”

Closed Loop Catalytic Capital & Private Credit’s loan to Supersede builds on their portfolio of investments aimed at strengthening supply chains and end markets for rPP, including GreenMantra Technologies and Preserve*. The financing to Supersede features a unique interest rate structure that incentivizes the company to maximize the amount of recycled material incorporated in its finished products.

“Our investment in Supersede demonstrates the opportunity for catalytic capital to build the entire circular economy value chain. Closed Loop Partners’ catalytic capital & private credit group is committed to supporting both proven technologies and emerging companies that advance U.S. recycling and remanufacturing,” said Ray Hugel, Executive Director of Closed Loop Catalytic Capital & Private Credit. “Supersede represents a strong end manufacturer for post-consumer and post-industrial recycled materials, and we look forward to supporting its next phase of growth.”

Supersede’s new facility will accommodate at least eight additional production lines, beyond the two financed by this loan. The company also plans to localize feedstock sourcing, reducing transportation emissions while creating manufacturing jobs in underserved regions.

Following this investment, Closed Loop Partners will continue deploying capital across circular economy infrastructure and innovation, keeping valuable materials—including plastics and packaging—in circulation. Through its catalytic capital and private credit, venture capital and private equity strategies, the investment firm is uniquely positioned to support both early-stage and established companies advancing the circular economy.

If you are interested in applying for funding from Closed Loop Partners, please visit here.

*Closed Loop Partners has exited this investment.

About Supersede

Supersede is an engineered building materials company transforming structural sheathing across marine, RV, specialty vehicles, modular housing, and commercial and residential construction. The company provides a scalable platform of high-performance structural materials designed to replace legacy building materials with superior products and modern manufacturing.

Supersede’s materials are engineered for durability, performance, and efficiency, reducing waste, improving installation, and extending life cycle longevity. They are moisture and warp-resistant, and do not contain toxic chemicals like CCAs or Formaldehyde. Sustainability is embedded in the design and manufacturing process, delivering circularity, improved safety, and reduced environmental impact without compromising cost or workflow. As a US-based manufacturer, Supersede ensures supply chain predictability and pricing consistency across product lines.

About Closed Loop Partners

Closed Loop Partners is at the forefront of building the circular economy. The firm is comprised of three key businesses that create a platform for systems change: an investment group managing venture capital, private equity and catalytic capital & private credit investment strategies, Closed Loop Capital Management; an innovation center, the Closed Loop Center for the Circular Economy; and an operating group, Closed Loop Builders.

The firm’s catalytic capital & private credit investment strategy provides flexible and risk-tolerant capital to support private companies, organizations and municipalities to launch or develop projects, ultimately aiming to attract further investment and meet the criteria of driving net positive environmental and social outcomes. The firm’s venture capital strategy has been investing early-stage capital into companies developing breakthrough circular solutions for foundational materials that underpin and significantly influence a wide array of vital sectors of the economy.

Closed Loop Partners is based in New York City and is a registered B Corp. To learn more, visit closedlooppartners.com

Disclosure

This publication is for informational purposes only, and nothing contained herein constitutes an offer to sell or a solicitation of an offer to buy any interest in any investment vehicle managed by Closed Loop Capital Management or any company in which Closed Loop Capital Management or its affiliates have invested. An offer or solicitation will be made only through a final private placement memorandum, subscription agreement and other related documents with respect to a particular investment opportunity and will be subject to the terms and conditions contained in such documents, including the qualifications necessary to become an investor. Closed Loop Capital Management does not utilize its website to provide investment or other advice, and nothing contained herein constitutes a comprehensive or complete statement of the matters discussed or the law relating thereto. Information provided reflects Closed Loop Capital Management’s views as of a particular time and are subject to change without notice. You should obtain relevant and specific professional advice before making any investment decision. Certain information on this Website may contain forward-looking statements, which are subject to risks and uncertainties and speak only as of the date on which they are made. The words “believe”, “expect”, “anticipate”, “optimistic”, “intend”, “aim”, “will” or similar expressions are intended to identify forward-looking statements. Closed Loop Capital Management undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future developments or otherwise. Past performance is not indicative of future results; no representation is being made that any investment or transaction will or is likely to achieve profits or losses similar to those achieved in the past, or that significant losses will be avoided.

New York, NY, March 31, 2026 — Today, circular economy-focused investment firm Closed Loop Partners announces the acquisition of Sutter Metals, a leading metals management solutions provider in the U.S. Closed Loop Partners’ private equity group acquired majority interest in the company as shifts in regulation and global supply chains increase domestic demand for metals and critical mineral processors. The partnership aims to support the growth of Sutter Metals by expanding the company’s processing capabilities and geographic reach within the U.S.

Despite the high value of scrap metal, 29% of nonferrous metals and 54% of ferrous metals still end up in landfills. As critical industries, including data centers, aerospace and niche industrial applications, require more materials to meet market demand, the need for a stronger domestic metals supply chain has come to the forefront, with used metals and minerals an underutilized, yet critical supply source.

Headquartered in the Seattle–Tacoma region, Sutter Metals is a founder-led business with a strong reputation as an experienced regional operator focused on collecting, sorting and processing high-value metals for remanufacturing. This includes large metal equipment from critical regional industries including aerospace, automotives and electronics, as well as other industrial parts made of aluminum, brass, copper and stainless steel. In addition to its core metals recycling operations, Sutter Metals also processes complementary materials such as aluminum cans, cardboard and other recovered commodities. The company’s success to date reflects their long‑standing industry relationships, operational excellence and ability to consistently deliver clean, high‑value feedstock to mills, foundries and brokers.

“Sutter Metals has established itself as an experienced and strategically located operator with strong customer relationships and a proven track record to strengthen metals processing and circularity in the U.S. Their platform aligns with our vision at Closed Loop Partners to build resilient, circular supply chains across North America,” said Jackson Pei, Managing Director and Co-Head of Closed Loop Private Equity.

As Sutter Metals enters its next phase of growth with the support of Closed Loop Partners and its private equity team, the company will pursue a buy‑and‑build strategy supported by an active M&A pipeline. Growing M&A activity in the sector from strategics and financial buyers––and increased investment interest in the space—further reinforces the long-term attractiveness of the platform.

“For decades, our team has worked to build a trusted, resilient metals management platform that serves generators, manufacturers and communities across the region. Partnering with Closed Loop Partners allows us to accelerate our mission, expand our infrastructure and strengthen domestic metals supply chains at a time when localized processing is critical,” said Chad Sutter, CEO of Sutter Metals. “We look forward to entering this next chapter with a partner who shares our commitment to operational excellence, environmental stewardship and the circular economy.”

Sutter Metals’ leadership team is anchored by their long‑tenured founder with deep knowledge of the Pacific Northwest and broader U.S. metals market, who is maintaining significant equity ownership and alignment in the next stage of growth. The management team will be further supported by a broad bench of experienced operators within the Closed Loop Partners ecosystem, who will provide deep industry experience in global metal recycling and circular solutions for technology.

“We are proud to back Sutter Metals in their next phase of growth, as we see significant opportunities to bolster circular metals management processing and services across the value chain. Our investment in metals processing marks a step forward in our work to scale platforms that are fundamental to the circular economy,” said Daniel Phan, Managing Director and Co-Head of Closed Loop Private Equity.

“Our team at Closed Loop Partners looks forward to supporting Sutter Metals’ expansion, leveraging our network of corporate partners, and advancing scalable solutions that increase domestic processing capacity for critical materials,” said Ron Gonen, Founder & CEO of Closed Loop Partners.

Closed Loop Private Equity’s investment partnership with Sutter Metals builds on the group’s robust portfolio of investments and acquisitions focused on advancing scalable circular platforms for key materials. This investment marks the private equity group’s entrance into metals and minerals circularity, supporting multiple industries including circular technology and the built environment. Closed Loop Private Equity continues to explore opportunities to buy and build scalable circular platforms for plastics & packaging, food & agriculture, circular technology, the built environment, energy efficiency, textiles and healthcare.

Through the broader Closed Loop Partners platform—which includes a leading investment firm, innovation firm and operating group—Sutter Metals now has access to deep expertise across materials recovery, recycling technologies and downstream market development. Closed Loop Partners’ platform reach, combined with a network of more than 50 corporate partners, supports Sutter Metals’ work to advance new opportunities, expand into adjacent material streams, scale solutions for large enterprise customers and accelerate the transition to the circular economy.

J.P. Morgan Securities LLC acted as exclusive financial advisor to Closed Loop Partners in this transaction.

About Sutter Metals

Headquartered in the Seattle-Tacoma region, Sutter Metals first opened its doors in 2009 as a vendor of used auto parts. Since then, the company has grown to be a leading metals management solutions provider in the U.S., expanding its services to multiple locations and providing innovative scrap metals management and recycling services to local communities and national commercial vendors.

Chad Sutter is the founder & CEO of Sutter Metals. With roots in the Pacific Northwest and generational experience in metals management, Chad built Sutter Metals to advance recycling solutions for high-value metals for remanufacturing, supporting critical industries including aerospace, automotives and electronics. Sutter Metals continues to expand its footprint and bolster metals management solutions with the latest technologies and sustainable practices.

To learn more about Sutter Metals, visit www.suttermetals.com.

About Closed Loop Private Equity

Closed Loop Partners is at the forefront of building the circular economy, comprised of three key businesses that create a platform for systems change: an investment group managing venture capital, private equity and catalytic capital & private credit investment strategies, Closed Loop Capital Management; an innovation firm, the Closed Loop Center for the Circular Economy; and an operating group, Closed Loop Builders.

Closed Loop Private Equity seeks to make control investments in cash flowing businesses and enabling technologies to scale platforms that are fundamental to the circular economy. Closed Loop Private Equity is focused on areas including plastics & packaging, circular technology, food & agriculture, the built environment, energy efficiency, textiles and healthcare. With a buy-and-build strategy, the team brings active capital solutions, operating experience, circularity expertise and the strategic network of the Closed Loop Partners ecosystem to capture opportunities for growth and accelerate the circular economy. Closed Loop Partners is based in New York City and is a registered B Corp.

To learn more about Closed Loop Private Equity, visit www.closedlooppartners.com.

Disclosure

This publication is for informational purposes only, and nothing contained herein constitutes an offer to sell or a solicitation of an offer to buy any interest in any investment vehicle managed by Closed Loop Capital Management or any company in which Closed Loop Capital Management or its affiliates have invested. An offer or solicitation will be made only through a final private placement memorandum, subscription agreement and other related documents with respect to a particular investment opportunity and will be subject to the terms and conditions contained in such documents, including the qualifications necessary to become an investor. Closed Loop Capital Management does not utilize its website to provide investment or other advice, and nothing contained herein constitutes a comprehensive or complete statement of the matters discussed or the law relating thereto. Information provided reflects Closed Loop Capital Management’s views as of a particular time and are subject to change without notice. You should obtain relevant and specific professional advice before making any investment decision. Certain information on this Website may contain forward-looking statements, which are subject to risks and uncertainties and speak only as of the date on which they are made. The words “believe”, “expect”, “anticipate”, “optimistic”, “intend”, “aim”, “will” or similar expressions are intended to identify forward-looking statements. Closed Loop Capital Management undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future developments or otherwise. Past performance is not indicative of future results; no representation is being made that any investment or transaction will or is likely to achieve profits or losses similar to those achieved in the past, or that significant losses will be avoided.

PROVIDENCE, R.I. (March 9, 2026) — Beginning this month, the City of Providence will start delivering new, standardized trash and recycling collection carts to residents to help divert recyclables from landfills and create new materials with recycled content. These collection carts will replace aging and inconsistent containers and lay the foundation for a stronger, more effective recycling system citywide. The recycling effort is supported by a $7.4 million investment from Closed Loop Partners, American Beverage Association and other major brands, The Recycling Partnership, and the U.S. Environmental Protection Agency’s Solid Waste Infrastructure for Recycling (SWIFR) Grant Program.

The new carts are a major step in a multi-year public-private partnership to address longstanding challenges in Providence’s recycling system. By aligning public funding, private investments, infrastructure upgrades, and resident education, the project is taking direct action to reduce contamination, strengthen recycling operations, and deliver measurable recycling rate improvements citywide. Providence’s current contamination rate is over 47 percent, resulting in over 8,000 tons of valuable materials intended for recycling being rejected and sent to landfills annually instead of being made into new products. That is equivalent to approximately 288 pounds of valuable materials lost to landfill per household.

Contributing to the multi-million dollar project, circular-economy focused firm Closed Loop Partners provided a commitment of over $5 million in financing from its Catalytic Capital & Private Credit group, including its beverage strategy, backed by the American Beverage’s Every Bottle Back Initiative, in partnership with Rhode Island’s beverage companies, and its infrastructure strategy, backed by Amazon, The Coca-Cola Company, Colgate-Palmolive, Danone North America, Kenvue, Keurig Dr Pepper, P&G, PepsiCo, Primo Brands, Starbucks, Unilever, the Venn Foundation and the Walmart Foundation. Additionally, the city secured two grants including $625,000 from The Recycling Partnership, with funding through the Every Bottle Back Initiative, and an additional $1.8 million through the EPA’s SWIFR grant program, which supports improvements of post-consumer materials management and infrastructure. Together these investments aim to improve Providence’s recycling rate of 2.4 percent, currently the lowest in Rhode Island.

“Since the start of my Administration, we have focused on making Providence cleaner, greener and more efficient,” said Mayor Brett Smiley. “That’s why we are investing in new trash and recycling carts, along with education and enforcement strategies to change behavior and get the City’s recycling program back on track. By combining these investments with targeted outreach, we are helping Providence neighbors manage waste more effectively, improve recycling rates and enhance quality-of-life while supporting long-term sustainability.”

“Strategic capital and collaboration across the value chain are critical to building a resilient circular economy in cities across the U.S.,” said Ron Gonen, Founder & CEO of Closed Loop Partners. “The joint funding made possible by this partnership, and bolstered by commitments from the federal government, is a key step toward catalyzing more capital to circular solutions, and laying the groundwork for waste-free cities. We are proud to support Providence, a city that is leading the way towards strengthening the infrastructure, education and partnerships needed to keep more of our valuable materials in circulation.”

Closed Loop Partners’ Catalytic Capital & Private Credit group has an over 10-year track record of deploying flexible catalytic capital to many leading recycling companies and municipal recycling programs in the U.S. The financing to Providence marks a key step in their work to advance circular economy infrastructure. Following this financing, Closed Loop Partners looks to continue to invest capital into solutions that keep a range of valuable materials in circulation.

“Strong partnerships are essential to building recycling systems that actually work for communities,” said Keefe Harrison, founder and CEO of The Recycling Partnership. “This effort goes beyond delivering carts. It brings funding, tools, education, and hands-on implementation together to turn infrastructure into real progress. By working closely with Providence city leaders and trusted partners, we are helping design solutions that meet residents where they are and deliver lasting, measurable results for the community.”

These infrastructure improvements are paired with robust resident engagement. A citywide recycling education campaign is underway, including direct mail, neighborhood outreach, and clear on-cart guidance to help residents understand what belongs in the recycling cart and why it matters.

“This investment reflects our commitment to working hand-in-hand with communities to support good policy and programs that increase the collection of valuable recyclables, including our industry’s aluminum cans and plastic bottles,” said Peg Sweeney, executive director of the Rhode Island Beverage Association. “Then we can ensure they are remade as intended and don’t end up in waterways and green spaces, or wasted in landfills.”

The City of Providence anticipates the delivery of the approximately 55,000 recycling carts to be completed early this summer. For more information about Providence’s cart program, visit http://www.providenceri.gov/carts.

About American Beverage’s Every Bottle Back initiative

The Every Bottle Back Initiative is an integrated and comprehensive initiative by The Coca-Cola Company, Keurig Dr Pepper and PepsiCo, alongside sustainability leaders Closed Loop Partners, The Recycling Partnership and World Wildlife Fund, designed to improve plastics circularity. These efforts support individual sustainability commitments undertaken by The Coca-Cola Company, Keurig Dr Pepper and PepsiCo.

About Closed Loop Partners

Closed Loop Partners is at the forefront of building the circular economy. The company is comprised of three key business segments: its investment group, Closed Loop Capital Management; its innovation firm, the Closed Loop Center for the Circular Economy; and its operating group, Closed Loop Builders. Closed Loop Capital Management manages venture capital, private equity and catalytic capital & private credit investment strategies.

The firm’s Catalytic Capital & Private Credit investment strategy invests across four key strategies that complement and operate alongside each other to bridge existing financing gaps and scale circular economy infrastructure across North America: infrastructure, beverage, circular plastics and local recycling. Across these strategies, Closed Loop Catalytic Capital & Private Credit provides flexible and risk-tolerant capital to support private companies, organizations and municipalities to launch or develop projects, ultimately aiming to attract further investment and meet the criteria of driving net positive environmental and social outcomes. Closed Loop Partners is based in New York City and is a registered B Corp. To learn about Closed Loop Catalytic Capital & Private Credit, visit https://www.closedlooppartners.com

About The Recycling Partnership

The Recycling Partnership is the U.S. nonprofit solving recycling’s toughest challenges, together, by tackling problems no single company, community, or policymaker can fix alone. Since 2014, we’ve helped recover more than 1 billion pounds of new recyclables, avoided 1.4 million metric tons of greenhouse gas emissions, delivered more than 2 million recycling carts to U.S. homes, and catalyzed $650 million in recycling system improvements. Learn more at recyclingpartnership.org.

Disclosure

This publication is for informational purposes only, and nothing contained herein constitutes an offer to sell or a solicitation of an offer to buy any interest in any investment vehicle managed by Closed Loop Capital Management or any company in which Closed Loop Capital Management or its affiliates have invested. An offer or solicitation will be made only through a final private placement memorandum, subscription agreement and other related documents with respect to a particular investment opportunity and will be subject to the terms and conditions contained in such documents, including the qualifications necessary to become an investor. Closed Loop Capital Management does not utilize its website to provide investment or other advice, and nothing contained herein constitutes a comprehensive or complete statement of the matters discussed or the law relating thereto. Information provided reflects Closed Loop Capital Management’s views as of a particular time and are subject to change without notice. You should obtain relevant and specific professional advice before making any investment decision. Certain information on this Website may contain forward-looking statements, which are subject to risks and uncertainties and speak only as of the date on which they are made. The words “believe”, “expect”, “anticipate”, “optimistic”, “intend”, “aim”, “will” or similar expressions are intended to identify forward-looking statements. Closed Loop Capital Management undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future developments or otherwise. Past performance is not indicative of future results; no representation is being made that any investment or transaction will or is likely to achieve profits or losses similar to those achieved in the past, or that significant losses will be avoided.

In 2025, we saw the circular economy take center stage as demands for resource efficiency, local productivity and durable profitability reshaped investment priorities. Amidst economic shifts, more capital moved toward circular systems, seeking to capture the value of materials that power our economy.

Closed Loop Capital Management’s growth reflects this progress, with an ecosystem that includes 50 of the world’s largest corporations, as well as top financial institutions and family offices. To date, we have backed 100+ companies, technologies and facilities that change the flow of materials in our economy, resulting in $5 billion+ worth of materials kept in circulation.

Last year was pivotal to the progress we have seen to date. I am pleased to share highlights from 2025 that are helping to position us for growth and impact in the year ahead:

Closed Loop Private Equity, our buy-and-build private equity strategy, has been a central player in building platforms for the circular economy––from consolidating best-in-class materials recovery facilities (MRFs) for recovery of paper, metal, glass and plastics across the U.S., to building a leading IT Asset Disposition platform that provides holistic reuse, repair and recycling services for electronics.

In 2025, our team repeated their builder capital approach, acquiring Agri-Cycle, a best-in-class food and organic materials transportation and logistics company, accelerating their national expansion across the U.S. to divert organic waste from landfills and convert valuable resources to clean energy and fertilizer.

What’s next? In 2026, we anticipate the continued growth of our Private Equity strategy, with a continued focus on circular platforms for plastics & packaging, the built environment including metals and critical minerals, food & agriculture, circular technology, energy efficiency, textiles and healthcare.

Closed Loop Ventures has backed 45+ innovative solutions and their founders to date. In 2025, portfolio companies like Molg, a company that provides distributed remanufacturing, robotics and software solutions for the electronics sector, demonstrated the value of our Ventures investment thesis. Our investment focus is on materials––specifically, innovative companies that drive materials efficiency and supply chain resilience. Doubling down on this thesis, we invested in 5 new companies at the cutting edge of circular innovation in 2025, including:

• Supersede, a materials company that aims to replace suboptimal wood-based construction materials with 100% recyclable, higher performance solutions for outdoor, recreational vehicle and marine-related use
• ClearCOGS, an AI-powered platform that optimizes restaurant operations to reduce food waste and maximize potential profit
• Phinite, a technology company that developed a state-of-the-art solution aimed at transforming livestock waste into premium organic fertilizer

What’s next? In 2026, our Ventures team looks to continue their focused investing in materials that underpin and influence a wide array of vital sectors of the economy, including metals and minerals, organics, polymers and water.

Founded in 2014 with the first 13 of our now 50+ firm-wide corporate partners, Closed Loop Catalytic Capital & Private Credit has catalyzed 8 billion+ pounds of materials kept in circulation since inception. The business models, facilities and municipal projects we have invested in have received $1 billion+ of additional co-invest capital to help scale the circular economy.

In 2025, our Catalytic Capital & Private Credit team put a record amount of strategic capital to work, supporting the growth of SFG, an independently owned MRF, as they expanded recycling services to rural communities. We also repeated support of successful portfolio companies like TemperPack, a leader in sustainable, innovative packaging technology, and GreenMantra, a molecular recycling company that creates specialty waxes and polymer additives from recycled plastics.

What’s next? In 2026, our Catalytic Capital & Private Credit team looks to continue accelerating circular plastics & packaging solutions, exploring catalytic opportunities across the built environment, and more sectors tailored to our corporate partners and other catalytic investors.

Over a decade of investing in waste-mitigating solutions has borne out our thesis that the foundation of a resilient economy is circularity––through its ability to eliminate waste, recirculate goods and materials, and regenerate resources. There is growing importance to this work as we look toward opportunities to rethink the status quo.

As more stakeholders recognize the financial and environmental opportunity of reducing waste and its associated costs, we remain dedicated to building the circular economy and advancing our platform to remain at the forefront of the transition.

We thank all of our investors for your partnership. It is through our work with you that we demonstrate the value of a more resilient economic model, what we believe to be one of the greatest investment opportunities since the first Industrial Revolution.

I wish you a purposeful and prosperous beginning to this New Year and look forward to continuing our work together through 2026 and the years to come.

With gratitude,

Tazia Smith and the Closed Loop Capital Management team

This publication is for informational purposes only, and nothing contained herein constitutes an offer to sell or a solicitation of an offer to buy any interest in any investment vehicle managed by Closed Loop Partners or any company in which Closed Loop Partners or its affiliates have invested. An offer or solicitation will be made only through a final private placement memorandum, subscription agreement and other related documents with respect to a particular investment opportunity and will be subject to the terms and conditions contained in such documents, including the qualifications necessary to become an investor. Information provided reflects Closed Loop Partners’ views as of a particular time and are subject to change without notice. Certain information in the Presentation constitute “forward-looking statements” about potential future results. Those results may not be achieved, due to implementation lag, other timing factors, portfolio management decision-making, economic or market conditions or other unanticipated factors. Nothing contained herein shall be relied upon as a promise or representation whether as to past or future performance or otherwise. The companies discussed have been selected for illustrative purposes to demonstrate the platforms, technology and manufacturing capabilities of Closed Loop Partner’s partner companies and are not based on the performance of any investment. Not all Closed Loop Partners investments had or will have similar characteristics or experiences as those included herein.

October 29, 2025, New York, NY –– Closed Loop Partners today announces a multi-million-dollar catalytic loan to Superior Fine Grind (“SFG”), an independently owned materials recovery facility (“MRF”) located in Connellsville, Pennsylvania––approximately 65 miles southeast of Pittsburgh. The financing was deployed by Closed Loop Partners’ Catalytic Capital & Private Credit group, supporting SFG’s plans to expand recycling services to municipalities and commercial businesses in surrounding rural communities. Proceeds of the loan have been used to finance new equipment and upgrades at SFG’s MRF, which will allow it to process and sort the increasing amount of post-consumer and post-industrial materials it is receiving. With the installation of new equipment now complete, SFG is positioned to meet the growing demand for recycling services in the communities it serves.

This loan to SFG reinforces Closed Loop Catalytic Capital & Private Credit’s long-term commitment to supporting private companies and municipalities developing projects that increase recycling capacity and access in the U.S. Founded in 2011, SFG is a MRF operator that is owned by Shawn Pilla, who is also the founder and owner of CAP Glass, one of the largest privately owned glass recycling companies in the United States. SFG processes both residential curbside and drop-off recyclables from several communities in Pennsylvania, including Fayette County, Somerset, Scottdale, South Union Township and North Union Township, as well as communities in West Virginia, such as Morgantown, the home of West Virginia University.

“Interest in recycling is quickly growing within our surrounding community, and we at Superior Fine Grind are dedicated to meeting that demand, supporting job development and expanding capacity to process the growing volumes of recycled materials at our facility,” said Shawn Pilla, Founder and Owner of Superior Fine Grind. “Recycling is a profitable, job creating U.S. industry, and the financing and support from Closed Loop Partners and its extensive network of partners plays a key role in helping us meet our expansion goals.”

Today, the U.S. recycling industry is at a critical point. The industry generates over $5 billion in revenue annually and supports over 600,000 jobs nationwide. As more cities work to meet zero waste goals, global companies demand more recycled material for their production processes to meet sustainability goals, and imported commodity prices increase, the case for investing in regional recycling systems has grown increasingly urgent.

Capital gaps in the credit markets underscore the role of loans with flexible financing terms. Closed Loop Partners has helped bring catalytic capital to the forefront as an important way to finance upgrades and expansions for MRFs, and to support the development of innovative recycling technologies. Closed Loop Catalytic Capital & Private Credit has a 10-year track record of deploying flexible catalytic capital to many leading recycling companies and municipal recycling programs in the U.S., and has played a key role in advancing new recycling technologies and scaling recycling infrastructure, especially in areas that have historically lacked the necessary recycling systems.

“We are proud to back an independent recycling company that has maintained a strong reputation in the industry for many years. Our catalytic loan to SFG creates opportunities to not only support vertically integrated companies which can create greater efficiencies in our recycling system, but also to expand sortation capacity to advance recycling services in rural communities in the U.S.,” said Ray Hugel, Director of Closed Loop Catalytic Capital & Private Credit. “We look forward to supporting more companies like SFG that are scaling recycling systems for all U.S. communities.”

Following this financing, Closed Loop Partners will continue to invest capital into circular economy infrastructure, and in solutions that keep a range of valuable materials––ranging from plastics, packaging and more––in circulation.

If you are interested in applying for funding from the Closed Loop Catalytic Capital & Private Credit group, please visit here.

About Closed Loop Partners

Closed Loop Partners is at the forefront of building the circular economy. The firm is comprised of three key businesses that create a platform for systems change: an investment group managing venture capital, private equity and catalytic capital & private credit investment strategies, Closed Loop Capital Management; an innovation center, the Center for the Circular Economy; and an operating group, Closed Loop Builders.

The firm’s catalytic capital & private credit investment strategy invests across four key strategies that complement and operate alongside each other to bridge existing financing gaps and scale circular economy infrastructure across North America: infrastructure, beverage, circular plastics and local recycling. Across these strategies, the Closed Loop Catalytic Capital & Private Credit group provides flexible and risk-tolerant capital to support private companies, organizations and municipalities to launch or develop projects, ultimately aiming to attract further investment and meet the criteria of driving net positive environmental and social outcomes. Closed Loop Partners is based in New York City and is a registered B Corp. To learn about the Closed Loop Catalytic Capital & Private Credit team, visit https://www.closedlooppartners.com/here.

About Superior Fine Grind

Superior Fine Grind is a leading independent recycling company dedicated to advancing the circular economy. Superior Fine Grind has built a reputation for reliability, efficiency, and community engagement. The company specializes in processing a variety of recycled materials, leveraging new state-of-the-art technology to ensure high-quality output while supporting local workforce development. By collaborating with its community and industry partners and investing in facility upgrades, Superior Fine Grind continues to play a pivotal role in strengthening recycling infrastructure and promoting environmental stewardship across the region.

Disclosure

This publication is for informational purposes only, and nothing contained herein constitutes an offer to sell or a solicitation of an offer to buy any interest in any investment vehicle managed by Closed Loop Capital Management or any company in which Closed Loop Capital Management or its affiliates have invested. An offer or solicitation will be made only through a final private placement memorandum, subscription agreement and other related documents with respect to a particular investment opportunity and will be subject to the terms and conditions contained in such documents, including the qualifications necessary to become an investor. Closed Loop Capital Management does not utilize its website to provide investment or other advice, and nothing contained herein constitutes a comprehensive or complete statement of the matters discussed or the law relating thereto. Information provided reflects Closed Loop Capital Management’s views as of a particular time and are subject to change without notice. You should obtain relevant and specific professional advice before making any investment decision. Certain information on this Website may contain forward-looking statements, which are subject to risks and uncertainties and speak only as of the date on which they are made. The words “believe”, “expect”, “anticipate”, “optimistic”, “intend”, “aim”, “will” or similar expressions are intended to identify forward-looking statements. Closed Loop Capital Management undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future developments or otherwise. Past performance is not indicative of future results; no representation is being made that any investment or transaction will or is likely to achieve profits or losses similar to those achieved in the past, or that significant losses will be avoided.

September 30, 2025, New York, NY –– Closed Loop Partners today announces a $10 million loan to TemperPack Technologies (“TemperPack”), a leader in sustainable, innovative packaging technology. The financing was deployed by Closed Loop Partners’ Catalytic Capital & Private Credit group and will support TemperPack’s continued growth in the sustainable packaging sector.

This financing marks Closed Loop Catalytic Capital & Private Credit’s third loan to TemperPack since 2018, reinforcing the group’s long-term commitment to supporting private companies that reduce waste and advance circular manufacturing. Deploying capital to innovative private companies such as TemperPack is an important component of Closed Loop Catalytic Capital & Private Credit’s strategy. The group is focused on providing flexible capital to support private companies, organizations and municipalities that have developed or are developing circular economy-focused projects or products, and are seeking more capital to drive net positive environmental and social outcomes.

Based in Richmond, Virginia, TemperPack develops innovative plant-based packaging and manufacturing technologies that help reduce waste and hard-to-recycle materials in supply chains. Its latest offering, WaveKraft, allows customers to simplify their operations and optimize packaging performance with an on-site, on-demand packaging manufacturing platform.

Photo Credit: TemperPack

Over the past several years, TemperPack has demonstrated strong growth and financial stability. This, coupled with near-term plans to further innovate and explore different business models that require outside capital, positioned them well for a follow-on loan. As more packaging companies transition their focus to fiber-based packaging, Closed Loop Catalytic Capital & Private Credit believes TemperPack will benefit from the shift. This financing complements Closed Loop Catalytic Capital & Private Credit’s loans to other entities up and down the circular economy value chain, including materials recovery facilities (“MRFs”) and municipal residential recycling programs, to advance material circularity.

Proceeds of this financing will be used to support TemperPack’s research and development, manufacturing and distribution of more sustainable and easier-to-recycle fiber-based products that help reduce the reliance on harder-to-recycle plastics such as Expanded Polystyrene Foam (EPS). While the use of EPS as a packaging material has declined, it continues to be used in industries such as food and beverage and healthcare. With limited infrastructure that can properly recycle EPS in the U.S., the material typically ends up in landfills or incinerated. Solutions like TemperPack’s helps address this challenge.

“TemperPack is a prime example of the kind of company we seek to support—established, forward-thinking and focused on reducing environmental impact through scalable innovation,” said Jennifer Louie, Managing Director of Closed Loop Catalytic Capital & Private Credit at Closed Loop Partners. “Our continued investment in TemperPack aligns with our mission to build a circular economy, reduce waste and promote sustainable manufacturing, not just through recycling, but by reducing the need for hard-to-recycle materials in supply chains.”

“We’re thrilled to continue our partnership with Closed Loop Partners as TemperPack enters its next phase of growth,” said Peter Wells, CEO of TemperPack. “Closed Loop Partners’ experience in material circularity, and extensive network of partners, has made them a key partner for our company’s growth. With this loan, we look to further scale our capacity and impact, helping reduce waste across major industries––including life sciences, food & beverage, electronics and home goods––while catalyzing the development of new circular products.”

The financing from Closed Loop Catalytic Capital & Private Credit signals its readiness to deploy larger amounts of capital and partner with sophisticated co-investors, including major financial institutions. With this transaction, Closed Loop Catalytic Capital & Private Credit becomes TemperPack’s second-largest lender, demonstrating the group’s ability to help impact-driven companies scale from early-stage innovators to more mature businesses with shovel-ready capital expenditure projects that advance the circular economy.

Following this financing, Closed Loop Partners will continue to support TemperPack as it expands its processing capacity, improves existing facilities and pursues new product development. Closed Loop Catalytic Capital & Private Credit continues to catalyze capital into circular economy infrastructure and solutions that keep a range of valuable materials in circulation.

If you are interested in applying for funding from Closed Loop Catalytic Capital & Private Credit, please visit here.

About Closed Loop Partners

Closed Loop Partners is at the forefront of building the circular economy. The firm is comprised of three key businesses that create a platform for systems change: an investment group managing venture capital, private equity and catalytic capital & private credit investment strategies, Closed Loop Capital Management; an innovation center, the Center for the Circular Economy; and an operating group, Closed Loop Builders.

The firm’s catalytic capital & private credit investment strategy invests across four key strategies that complement and operate alongside each other to bridge existing financing gaps and scale circular economy infrastructure across North America: infrastructure, beverage, circular plastics and local recycling. Across these strategies, Closed Loop Catalytic Capital & Private Credit provides flexible and risk-tolerant capital to support private companies, organizations and municipalities to launch or develop projects, ultimately aiming to attract further investment and meet the criteria of driving net positive environmental and social outcomes. Closed Loop Partners is based in New York City and is a registered B Corp. To learn about Closed Loop Catalytic Capital & Private Credit, visit https://www.closedlooppartners.com/here.

About TemperPack

TemperPack solves the toughest packaging problems, with science and sustainability. Since 2015, we’ve worked to displace legacy plastics with innovative, sustainable alternatives. With expertise in materials science, packaging design, and process engineering, we develop and scale solutions that match the performance of

traditional materials, without unnecessary plastic waste. Our products have protected over 200 million shipments worldwide for industry leaders including HelloFresh, Wild Alaskan Company, Cytiva, and New England Biolabs. For more information, visit www.temperpack.com.

Disclosure

This publication is for informational purposes only, and nothing contained herein constitutes an offer to sell or a solicitation of an offer to buy any interest in any investment vehicle managed by Closed Loop Capital Management or any company in which Closed Loop Capital Management or its affiliates have invested. An offer or solicitation will be made only through a final private placement memorandum, subscription agreement and other related documents with respect to a particular investment opportunity and will be subject to the terms and conditions contained in such documents, including the qualifications necessary to become an investor. Closed Loop Capital Management does not utilize its website to provide investment or other advice, and nothing contained herein constitutes a comprehensive or complete statement of the matters discussed or the law relating thereto. Information provided reflects Closed Loop Capital Management’s views as of a particular time and are subject to change without notice. You should obtain relevant and specific professional advice before making any investment decision. Certain information on this Website may contain forward-looking statements, which are subject to risks and uncertainties and speak only as of the date on which they are made. The words “believe”, “expect”, “anticipate”, “optimistic”, “intend”, “aim”, “will” or similar expressions are intended to identify forward-looking statements. Closed Loop Capital Management undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future developments or otherwise. Past performance is not indicative of future results; no representation is being made that any investment or transaction will or is likely to achieve profits or losses similar to those achieved in the past, or that significant losses will be avoided.

August 20, 2025, New York, NY – Today, Closed Loop Partners announces their acquisition of Agri-Cycle, a premier provider of organics collection for commercial & industrial sectors across the U.S. The acquisition was completed by Closed Loop Private Equity.

Since its inception in 2013, Agri-Cycle has expanded significantly, now operating as a leading provider of organics management services in the U.S. The company collects organic waste from over 2,400 locations across 14 U.S. states, and provides clients with education, collection, processing and disposal services, as well as data analytics and reporting to maximize cost savings and landfill diversion. They serve over 850 commercial and industrial customers, including Hannaford and other leading national players, addressing the ~$110 billion market for food waste management within the food industry.

Agri-Cycle’s acquisition takes place as strong regulatory tailwinds, including landfill disposal bans and organics diversion mandates in states including Maine, New Hampshire, Vermont and Massachusetts, accelerate demand for organics collection. Today, up to 40% of all food in the U.S. goes to landfill, equivalent to an estimated $340 billion in value and responsible for 58% of landfill methane emissions released to the atmosphere. With only 27 years of median landfill capacity remaining in the U.S.––and less in population centers––the need for scaled circular food waste management services is critical.

Following the acquisition, Agri-Cycle’s management team will partner with Closed Loop Partners to expand the company’s reach and services. With the firm’s deep experience in running circular economy businesses across a range of materials, and extensive ecosystem of the world’s largest corporations, institutional investors and notable family offices, Agri-Cycle has strategic support at a pivotal moment of expansion.

This is Closed Loop Private Equity’s most recent platform acquisition, employing a buy-and-build strategy to partner with companies and scale platforms and enabling technologies across plastics & packaging, circular technology, food & agriculture, the built environment, energy efficiency, textiles and healthcare, aiming to develop, accelerate and modernize circular supply chains and recycling & reuse infrastructure.

“Closed Loop Partners is proud to back Agri-Cycle, and partner with their management team to accelerate their path to scale and drive meaningful impact for organics circularity in the U.S. Through this acquisition, we can together capture the significant market opportunity for food and organic waste diversion in the U.S.,” said Jackson Pei, Co-head of Closed Loop Private Equity at Closed Loop Partners.

“The deep sector expertise and long tenured industry relationships of the Agri-Cycle team have laid a strong foundation for a platform positioned to scale both organically and through M&A,” said Daniel Phan, Co-head of Closed Loop Private Equity. “We look forward to supporting Agri-Cycle’s growth into a large national player for organics management, executing on a robust platform of acquisition targets and creating an ecosystem of best-in-class operating businesses in the industry,” added Derek Trott, Vice President of Closed Loop Private Equity.

Closed Loop Private Equity’s acquisition of Agri-Cycle marks a key milestone for Closed Loop Partners’ work to advance organics circularity––a key focus area for the firm alongside plastics & packaging, textiles and electronics. The firm’s broader work in organics spans solutions at every point of the value chain, including platforms to support regenerative food production, innovations to extend food shelf life, technologies to mitigate post-consumer organic waste, compostable packaging field tests, and composting and anaerobic digestion infrastructure.

“Our partnership with Closed Loop Partners marks the next phase of growth for Agri-Cycle Energy, as we work with their team and ecosystem toward our shared goal of driving a circular economy for organics,” said Dan Bell, CEO of Agri-Cycle. “Agri-Cycle has provided services to keep thousands of tons of food in circulation over the last decade. As the organics waste challenge grows more urgent, we look to continue meeting market demand, and work alongside Closed Loop Partners to accelerate impact at scale.”

To learn more about Closed Loop Partners, please visit here.

To learn more about Agri-Cycle, please visit here.

To learn more about Closed Loop Private Equity, please visit Closed Loop Partners’ website.

About Agri-Cycle

Agri-Cycle is the premier food-waste-collection service in the Northeast, and we are growing rapidly across the US.  We recycle organic waste via anaerobic digestion and composting, turning it into renewable energy and healthy soil.  Our partners include supermarkets, restaurants, universities, distribution centers, food processing plants, corporate cafeterias, school districts, municipalities, and hospitals. Agri-Cycle works in conjunction with sister companies, Stonyvale Farm (a fifth-generation family business) and Exeter Agri-Energy, as well as a growing network of anaerobic digestors that convert food waste into electricity, fuel, fertilizer, and other beneficial products. Our unique model is a fusion of Maine’s independent farming tradition and energy innovation. Waste collection is a critical component:  Agri-Cycle brings food full circle.

About Closed Loop Partners

Closed Loop Partners is at the forefront of building the circular economy. The company is comprised of three key business segments: its investment group, Closed Loop Capital Management; its innovation center, the Center for the Circular Economy; and its operating group, Closed Loop Builders. Closed Loop Capital Management manages venture capital, private equity and catalytic capital & private credit investment strategies.

Closed Loop Private Equity seeks to make control investments in cash flowing businesses and enabling technologies to scale platforms that are fundamental to the circular economy. Closed Loop Private Equity is focused on areas including plastics & packaging, circular technology, food & agriculture, the built environment, energy efficiency, textiles and healthcare. With a buy-and-build strategy, the team brings active capital solutions, operating experience, circularity expertise and the strategic network of the Closed Loop Partners ecosystem to capture opportunities for growth and accelerate the circular economy. Closed Loop Partners is based in New York City and is a registered B Corp.

Disclosure

This publication is for informational purposes only, and nothing contained herein constitutes an offer to sell or a solicitation of an offer to buy any interest in any investment vehicle managed by Closed Loop Capital Management or any company in which Closed Loop Capital Management or its affiliates have invested. An offer or solicitation will be made only through a final private placement memorandum, subscription agreement and other related documents with respect to a particular investment opportunity and will be subject to the terms and conditions contained in such documents, including the qualifications necessary to become an investor. Closed Loop Capital Management does not utilize its website to provide investment or other advice, and nothing contained herein constitutes a comprehensive or complete statement of the matters discussed or the law relating thereto. Information provided reflects Closed Loop Capital Management’s views as of a particular time and are subject to change without notice. You should obtain relevant and specific professional advice before making any investment decision. Certain information on this Website may contain forward-looking statements, which are subject to risks and uncertainties and speak only as of the date on which they are made. The words “believe”, “expect”, “anticipate”, “optimistic”, “intend”, “aim”, “will” or similar expressions are intended to identify forward-looking statements. Closed Loop Capital Management undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future developments or otherwise. Past performance is not indicative of future results; no representation is being made that any investment or transaction will or is likely to achieve profits or losses similar to those achieved in the past, or that significant losses will be avoided.

At Closed Loop Partners, we invest in companies that are not only solving urgent environmental challenges but also building resilience into the systems we rely on every day. Our investment in LAIIER—a Denver-based startup pioneering printed sensor technology for leak detection—is a reflection of this mission. LAIIER is tackling a critical and costly issue: liquid leaks in commercial and industrial buildings and infrastructure. By detecting water and other liquid leaks, they are enabling a future where our built environment is smarter, more sustainable, and more resilient to climate-related risks.

The Problem: Hidden Leaks, Escalating Risks

Leaks in buildings and infrastructure like wind turbines are a silent threat. They cause billions in damage annually, disrupt operations and contribute to the waste of finite water resources. In data centers, commercial real estate and industrial facilities, even minor leaks can lead to catastrophic failures. Traditional detection methods are slow and reactive, with average response times exceeding 80 hours. This delay not only drives up insurance claims and repair costs but also increases vulnerability to infrastructure stress, reducing the life of critical assets. The more rapidly these assets must be sunset, the more we need to rely on new materials to replace them––an increasing risk as global supply chains increase in volatility and material availability is less consistent.

LAIIER’s technology offers a proactive defense—detecting leaks before they become disasters and enabling buildings to respond faster and smarter.

The Solution: Smart Sensors for a Resilient, Less Wasteful Future

LAIIER’s innovation lies in its Severn WLD™ system—a printed, adhesive sensor that can detect as little as two drops of liquid. These ultra-thin, flexible sensors can be installed in hard-to-reach areas and integrated directly into building materials, including roofing systems. This is especially critical for data centers and other high-value infrastructure, where downtime from water damage can cost millions.

The sensors are paired with LAIIER Cloud™, a real-time monitoring platform that provides analytics, remote configuration and alerts. This combination enables rapid response to leaks, reducing the risk of structural damage, mold and system failures. It also supports long-term resilience planning by generating data that can inform predictive maintenance and infrastructure upgrades.

LAIIER’s impact extends beyond resilience. Their technology is a powerful enabler of the circular economy. By catching leaks early, LAIIER prevents damage to walls, floors and ceilings––materials that would otherwise end up in landfills. This approach reduces both water and material waste, all while helping customers lower their insurance premiums and utility costs––creating a compelling value proposition that’s both environmental and economic.

The Applications: Where Smart Sensors Are Most Needed Today

One of the most exciting applications of LAIIER’s technology is in integrated roofing systems. Through a strategic partnership with Carlisle Construction Materials––who also participated in this funding round––LAIIER is embedding sensors into roofing membranes. This creates “smart roofs” that can detect and localize leaks in real time, providing a critical layer of protection for buildings vulnerable to heavy rainfall.

Data centers also benefit significantly from partnerships with LAIIER. As we build more, faster to meet our growing demand for AI, increasingly hyperscalers are relying on water-based cooling technologies. This means leaks can come from the inside just as easily as from outside sources––and when water intrusion compromises sensitive equipment, it can lead to cascading failures.

Why Now?

Rising insurance costs, stricter building codes and increasing costs from damaged equipment and downtime are driving demand for proactive leak detection. LAIIER’s technology addresses all of these challenges––helping customers reduce risk, save resources and build smarter, more adaptive infrastructure.

We invested in LAIIER because we believe in their mission, their team and their technology. Co-Founders Matt Johnson and Bibi Nelson bring over a decade of experience in printed electronics and have built a culture of thoughtful, impact-driven innovation. With a differentiated product, a growing customer base and strong strategic partners in insurance, roofing and elsewhere, LAIIER is poised to become a category-defining company in smart infrastructure. We’re proud to support them as they help build a more resilient, circular and sustainable future.

Learn more about LAIIER here.

Disclosure

This publication is for informational purposes only, and nothing contained herein constitutes an offer to sell or a solicitation of an offer to buy any interest in any investment vehicle managed by Closed Loop Capital Management or any company in which Closed Loop Capital Management or its affiliates have invested. An offer or solicitation will be made only through a final private placement memorandum, subscription agreement and other related documents with respect to a particular investment opportunity and will be subject to the terms and conditions contained in such documents, including the qualifications necessary to become an investor. Closed Loop Capital Management does not utilize its website to provide investment or other advice, and nothing contained herein constitutes a comprehensive or complete statement of the matters discussed or the law relating thereto. Information provided reflects Closed Loop Capital Management’s views as of a particular time and are subject to change without notice. You should obtain relevant and specific professional advice before making any investment decision. Certain information on this Website may contain forward-looking statements, which are subject to risks and uncertainties and speak only as of the date on which they are made. The words “believe”, “expect”, “anticipate”, “optimistic”, “intend”, “aim”, “will” or similar expressions are intended to identify forward-looking statements. Closed Loop Capital Management undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future developments or otherwise. Past performance is not indicative of future results; no representation is being made that any investment or transaction will or is likely to achieve profits or losses similar to those achieved in the past, or that significant losses will be avoided.

Construction and demolition is now one of the biggest sources of waste in the world. By 2025, the annual volume of construction waste generated globally is expected to reach 2.2 billion tons.[1] In the U.S. alone, 600 million tons of construction and demolition debris were generated in 2018, more than twice the amount of municipal solid waste.[2]

The challenge lies not only in sheer volume, but in the complexity of construction materials. Non-concrete waste material––such as wood, drywall, asphalt shingles and tile––often have plasticizers (chemicals that make materials more flexible and easier to mold), trace or heavy metals and polychlorinated compounds in them, making it hard to recover those materials for their next lives. Furthermore, when those materials end up in landfills, they can leach those toxic chemicals into arable land and waterways––where they leave lasting environmental consequences.

Mycocycle, a biotechnology startup, found a solution to help address this complex challenge, inspired by fungi. Their patent-pending process improves the natural functions of fungi to transform construction waste into low-carbon raw materials for the built environment. Within a matter of weeks, their technology can turn organic waste from the built environment––such as carpet fiber and tires––into MycoFIBER©, MycoFILL© and MycoFOAM©, all raw materials that can replace virgin-derived materials.

Closed Loop Partners’ Ventures Group saw a key opportunity in Mycocycle’s technology, a solution that reimagined how materials can be recovered and kept in circulation. This aligned with Closed Loop Ventures Group’s focus on deploying early-stage funding to breakthrough circular solutions for foundational materials that underpin and influence vital sectors of the economy––from water and minerals to polymers and organics. Mycocycle’s solution to recover organic waste in the built environment unlocks new possibilities for circularity across a major industry.

Last year, Closed Loop Ventures Group led Mycocycle’s Series Seed extension to help address the growing challenge of construction waste––with participation from US Venture, the Illinois Department of Commerce and Economic Opportunity INVENT fund, and existing investor TELUS Pollinator Fund for Good.

Since then, over the past 10 months, the Mycocycle team has continued to impress––making significant progress on processing cost reductions and signing exclusivity agreements with major multinational companies for certain product categories. They are demonstrating that not only are their products not harboring the toxic chemicals of their inputs, but they are exhibiting significant performance improvements––in strength, elasticity and more––from the virgin-derived construction products they’re replacing.

Today, the team continues to operate in the south of Chicago––in a space nearly five times the size of the one they were working in over a year ago. And they are filling orders, using mycelium to transform organic waste from the built world into reusable, bio-based ingredients. Those ingredients are going into non-recoverable plastics, replacing food-grade fillers like corn stover, for which higher and better uses exist in biomanufacturing. They are also going into turf applications, replacing materials that have been outlawed in some geographies because of excessive microplastic shedding that pollutes airways and waterways. With products that are both cost competitive against the incumbents and gross margin accretive for the business, Mycocycle is on a path to scale that has already unlocked significant reductions in their processing costs––and there is still room for growth.

A big part of how Closed Loop Ventures Group invests is by identifying founders and leadership teams who balance a “no quitting” attitude with the detail orientation and the project management expertise to move the needle on tough challenges. Joanne Rodriguez, Founder & CEO of Mycocycle, and Colin Litow, COO of Mycocycle, exemplify these characteristics, creating a strong foundation for their team through its next phase of growth.

Today’s reality is that the built environment is still in the early stages of bringing circular principles to bear in the lion’s share of applications. Asynchronous design and demolition processes make it challenging to identify reuse and next life opportunities for materials, and the lifecycle of a building is long enough that it’s rare for an organization to think about disassembly and deconstruction at the time of design. Even if they were, less than 2% of the building stock is new each year.[3] Much more focus is needed on managing renovation and retrofit processes––not just tracking, but on finding new homes for the materials once they’re removed.

Mycocycle is a core part of the solution, as are the companies exploring opportunities to maintain or reduce costs while using recovered materials as inputs into their products. Closed Loop Partners’ Ventures Group is excited to continue to work with the Mycocycle team and those across the manufactured world as they lay the groundwork for a more circular future for the built environment.

About Closed Loop Ventures Group at Closed Loop Partners

Closed Loop Partners is at the forefront of building the circular economy. The firm is comprised of three key businesses that create a platform for systems change: an investment group managing venture capital, buyout private equity and catalytic private credit investment strategies, Closed Loop Capital Management; an innovation center, the Center for the Circular Economy; and an operating group, Closed Loop Builders.

The firm’s venture capital strategy, the Closed Loop Ventures Group, has been investing early-stage capital into companies developing breakthrough circular solutions for foundational materials that underpin and significantly influence a wide array of vital sectors of the economy. These materials include organics, minerals, polymers and water. Closed Loop Ventures Group partners with founders and companies who rethink how products are designed, manufactured, consumed and recovered, with the shared vision of reimagining supply chains and eliminating waste. Closed Loop Partners is based in New York City and is a registered B Corp.

To learn about the Closed Loop Ventures Group and apply for funding, visit www.closedlooppartners.com.

 About Mycocycle

Mycocycle, Inc. is a nature-inspired and woman-owned biotechnology startup that leverages fungi to transform industrial waste into reusable materials. Founded in 2018, the company drives circularity in the construction supply chain and diverts waste from landfills. Mycocycle blends lab-cultivated fungi with debris at the point of waste generation to transform waste into new raw materials. To learn more, visit http://www.mycocycle.com.

[1] Source: Construction Dive.

[2] Source: Environmental Protection Agency.

[3] Source: https://www.usgbc.org/articles/existing-buildings-99

Disclosure

This publication is for informational purposes only, and nothing contained herein constitutes an offer to sell or a solicitation of an offer to buy any interest in any investment vehicle managed by Closed Loop Capital Management or any company in which Closed Loop Capital Management or its affiliates have invested. An offer or solicitation will be made only through a final private placement memorandum, subscription agreement and other related documents with respect to a particular investment opportunity and will be subject to the terms and conditions contained in such documents, including the qualifications necessary to become an investor. Closed Loop Capital Management does not utilize its website to provide investment or other advice, and nothing contained herein constitutes a comprehensive or complete statement of the matters discussed or the law relating thereto. Information provided reflects Closed Loop Capital Management’s views as of a particular time and are subject to change without notice. You should obtain relevant and specific professional advice before making any investment decision. Certain information on this Website may contain forward-looking statements, which are subject to risks and uncertainties and speak only as of the date on which they are made. The words “believe”, “expect”, “anticipate”, “optimistic”, “intend”, “aim”, “will” or similar expressions are intended to identify forward-looking statements. Closed Loop Capital Management undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future developments or otherwise. Past performance is not indicative of future results; no representation is being made that any investment or transaction will or is likely to achieve profits or losses similar to those achieved in the past, or that significant losses will be avoided.