NovoPolymers

About NovoPolymers

NovoPolymers NV, established in 2008 in Puurs, Belgium, was a venture-backed company focused on the development and manufacturing of polymer-based encapsulant films for the photovoltaic (PV) industry. Founded by Koen Hasaers and Johan Declerck, the firm aimed to serve manufacturers of both crystalline silicon and thin-film solar modules. The company's core business involved producing specialized front and back encapsulants designed to protect solar cells and optimize their power output. Its product line, marketed under the brand name "Novovellum", included ethylene vinyl acetate (EVA)-based films and thermoplastic elastomer materials.

The firm's strategy was to enhance value within the PV supply chain by providing materials that improved module durability and production efficiency. These encapsulants were engineered to offer better light transmission for increased power output and maintain dimensional stability after lamination, which helped clients minimize material waste. NovoPolymers also developed colored and white encapsulants for building-integrated solar panels. Over its operational life, the company secured approximately $16.9 million in funding across four rounds from investors including Gimv, Capricorn Partners, and Capital-E. Significant funding rounds included €3.0 million in early 2009, €4.2 million ($5.8M) in February 2011, and $7.14M in March 2012, which supported the expansion of its production capacity to a target of 1 gigawatt-peak. Despite its initial growth and product development, NovoPolymers ceased operations and was noted as out of business in 2017.