Swiss startup GR3N secures €15.5M for first microwave PET recycling plant
▼ Summary
– Swiss cleantech startup GR3N raised €15.5 million in a Series B funding round led by 360 Capital, with VP Textile as a new investor.
– The funds will be used to build the world’s first commercial-scale microwave-assisted PET recycling plant.
– The facility, named MODUS, will be located in Spain and have a capacity of 40,000 tons per year.
– PET is one of the most widely used plastics, highlighting the relevance of GR3N’s recycling technology.
– The article was originally published by The Next Web, with the full story continuing on their site.
Swiss cleantech company GR3N has secured €15.5 million in Series B funding to construct what will be the first commercial-scale microwave-assisted PET recycling plant in the world. The investment round was led by 360 Capital, with VP Textile joining as a new investor. The capital will be directed toward MODUS, a facility in Spain with an annual capacity of 40,000 tons.
PET is among the most common plastics in use today, found in everything from beverage bottles to clothing fibers. However, conventional recycling methods often degrade the material, limiting its reuse. GR3N’s technology uses microwave energy to break down PET into its original building blocks, enabling true circular recycling without quality loss. This process, known as depolymerization, can handle colored, opaque, and multi-layer PET that traditional recyclers cannot process efficiently.
The MODUS plant, once operational, is expected to significantly reduce plastic waste and lower the carbon footprint of PET production. GR3N’s approach aligns with tightening EU regulations on recycled content and waste reduction. The company aims to license its technology globally, offering a scalable solution to the plastic pollution crisis.
With this funding, GR3N moves from pilot-scale validation to full industrial deployment, marking a critical step toward mainstream adoption of advanced chemical recycling. The plant is slated to begin operations in the coming years, positioning GR3N at the forefront of the next-generation plastics recycling market.
(Source: The Next Web)
