GR3N Raises €15.5M for Advanced PET Recycling Plant

GR3N, a pioneering CleanTech firm, has successfully closed a €15.5 million Series B funding round. This significant capital infusion is earmarked for the construction of MODUS, a groundbreaking industrial facility in Spain set to deploy the world's first microwave-assisted PET depolymerization technology at scale. The investment was spearheaded by 360 Capital, a venture capital firm focused on DeepTech and ClimateTech, with strategic participation from new investor VP Textile. The company also announced the appointment of Martin Stephan as its new Chief Executive Officer, tasked with driving the commercialization of their innovative recycling process.

The core of GR3N's innovation lies in its proprietary Microwave Assisted DEpolymerisation (MADE) technology. Unlike conventional mechanical recycling, which is limited to clear and light-blue PET bottles (representing only about 15% of the total PET waste stream), GR3N's process can handle 100% of PET waste. This includes challenging materials like colored resins, films, and crucially, textile fibers, which often end up in landfills or incinerators. The global PET market is substantial, estimated at 100 million tonnes annually, highlighting the immense potential for advanced recycling solutions.

This funding comes at a critical juncture, driven by escalating regulatory pressures and corporate sustainability commitments. The European Union's Packaging and Packaging Waste Regulation mandates significant recycled PET content in packaging by 2030 and 2040, while major beverage brands are setting ambitious internal targets. GR3N asserts that chemical recycling, particularly its MADE technology, is the only viable pathway to meet these demands at the required scale. The company highlights that its process can reduce CO₂ emissions by up to 80% compared to virgin PET production and yields food-grade monomers suitable for infinite recycling without performance degradation.

The new facility, MODUS, will boast an annual capacity of 40,000 tons and represents a significant step towards industrializing GR3N's technology. The project benefits from a strategic partnership with Intecsa Industrial, part of the Cobra IS industrial group, which is leading the engineering and EPC execution. Furthermore, the initiative has secured a substantial €35 million grant from the EU Innovation Fund, underscoring its alignment with European green initiatives. Commercial operations are anticipated to commence in the second quarter of 2030, following financial closure in the fourth quarter of 2027.

Alessandro Zaccaria, Partner at 360 Capital, emphasized the critical need for solutions addressing textile waste, a major challenge in the fashion industry which generates over 90 million tons of waste annually. "The loop has never been closed because the technology to close it didn’t exist. Until now," Zaccaria stated. He further elaborated that GR3N's technology stands out due to its ability to process complex, real-world PET waste streams without feedstock limitations, offering a clear path to industrial scale. The investment underscores a belief that GR3N's microwave depolymerization can meet the market's volume demands and regulatory imperatives.

GR3N's technical prowess is supported by a team of six PhDs with expertise spanning material science, chemistry, and engineering. The company also benefits from the backing of industrial shareholders including Intecsa Industrial, Standex International, and Chevron, providing a robust foundation for scaling its innovative recycling solution. This Series B round positions GR3N to become a leader in the advanced chemical recycling of PET, addressing a significant environmental and industrial challenge.