Swiss cleantech startup GR3N has secured €15.5 million in a Series B funding round, marking a major step toward revolutionizing plastic waste recycling. The company plans to use the capital to construct the world’s first commercial-scale microwave-assisted PET recycling plant, a technology that could significantly improve the efficiency and sustainability of plastic waste processing.
Revolutionary Microwave Technology
The funding round was led by 360 Capital, with participation from new investor VP Textile. The funds will be used to develop a facility named MODUS, located in Spain, with a capacity to process 40,000 tons of PET waste annually. Unlike traditional recycling methods that often result in downcycling or require high energy inputs, GR3N's approach uses microwave technology to break down PET plastics into their base monomers, enabling high-quality recycling without compromising material integrity.
Environmental Impact and Market Potential
PET, commonly used in beverage bottles and food packaging, is one of the most prevalent plastics globally, yet recycling rates remain low. GR3N’s technology addresses a major challenge in the recycling industry by offering a more scalable and energy-efficient solution. The company's innovation could significantly reduce the environmental footprint of plastic waste, supporting global efforts to combat pollution and promote circular economy principles. The new plant is expected to serve major industries, including beverage and food packaging, as demand for recycled materials continues to grow.
Looking Ahead
With this latest funding, GR3N is positioning itself at the forefront of sustainable materials technology. The company’s microwave-assisted recycling method not only enhances the quality of recycled PET but also reduces energy consumption compared to conventional techniques. As the world grapples with plastic pollution, innovations like GR3N’s offer a promising pathway toward a more sustainable future.
