Swiss startup GR3N has secured €15.5 million to construct the first-ever microwave-powered PET recycling facility.

      Swiss cleantech startup GR3N has secured €15.5 million in a Series B funding round to establish the first commercial-scale microwave-assisted PET recycling facility in Spain. The funding round was led by 360 Capital, with participation from new investor VP Textile. The funds will be used to develop MODUS, a facility capable of processing 40,000 tons of PET per year.

      PET is one of the most commonly used plastics globally, yet 98% of recycling is dependent on mechanical methods, which can only handle transparent and light-blue bottles—approximately 15% of total PET waste. The remaining 85%, which includes textile fibers, films, and colored resins, is either sent to landfills or incinerated, representing a significant challenge in the EU’s effort to meet its emissions goals.

      GR3N's technology, known as MADE (Microwave Assisted DEpolymerisation), is capable of processing all types of PET waste. Unlike mechanical recycling and other alternatives such as glycolysis and methanolysis, MADE does not have feedstock restrictions. It generates food-grade monomers that can be recycled multiple times without performance degradation, while also reducing CO2 emissions by up to 80% compared to the production of virgin PET.

      The MODUS facility has been awarded a €35 million grant from the EU Innovation Fund under the large-scale industrial projects category. Intecsa Industrial, which is part of the Cobra IS group, will oversee engineering and construction. Financial closure is anticipated in Q4 2027, with commercial operations set to commence in Q2 2030.

      Founded in 2013 by Italian inventor Maurizio Crippa, GR3N recently transitioned CEO responsibilities to Martin Stephan, who has two decades of experience in technology-focused enterprises. Current industrial stakeholders include Intecsa Industrial, Standex International, and Chevron.

      While the funding round may seem modest by venture capital standards, the EU grant and industrial support indicate that the technology has advanced beyond the laboratory phase. If MODUS achieves its target of processing 40,000 tons annually, it would prove that chemical recycling can effectively manage the types of PET waste that have posed challenges for the industry. Europe has a larger number of climate tech startups compared to the US, but scaling deep tech from laboratory development to full-scale production remains a significant challenge.