PLUSfoam Compound Technologies LLC in Newport Beach received an undisclosed investment from Acorn Innovestments and the Noël Group.
PLUSfoam makes recyclable materials and will use the money for new manufacturing facilities and marketing.
Acorn Innovestments is a Durham, N.C.-based venture capital fund that invests in manufacturers working on environmental problems. Noël Group is a Zebulon, N.C.-based industrial management company whose investments include clean technology.
“We look forward to deploying our new resources in the area,” PLUSfoam co-founder and chief operating officer Jason Stanson said. He cited the employee talent base and local consumer products firms as reasons for expansion here.
The company’s clients including Cypress-based Vans, as well as Patagonia, New Balance and Manduka.
The nine-year-old company said it replaces traditional foams, plastics and rubber in products to cut waste and divert discarded products from landfills, waterways and incinerators. Industries it works in includes action and outdoor sports, fashion, aerospace and the military.
