GR3N Closes, 15.5M Series B for First Microwave PET Recycling Plant

GR3N, a CleanTech company based in Lugano, has successfully closed a, 15.5 million Series B financing round. This capital infusion is earmarked for the accelerated construction of MODUS, a pioneering industrial plant designed to recycle PET and polyester plastics and fibers using microwave-assisted depolymerization technology. The significance of this development lies in its potential to establish a new benchmark for plastic recycling efficiency and scalability. The funding round was spearheaded by 360 Capital, a venture capital firm with a focus on DeepTech and ClimateTech investments. The participation of such a prominent investor signals strong confidence in GR3N's innovative approach to tackling plastic waste. Microwave-assisted depolymerization offers a distinct advantage over conventional recycling methods, potentially enabling higher yields and the processing of more contaminated or complex plastic streams. This technology could unlock value from materials previously considered difficult or uneconomical to recycle. With the new plant slated for construction in Spain, GR3N is positioning itself at the forefront of the circular economy for plastics. The successful closure of this Series B round provides GR3N with the necessary resources to move from pilot stages to industrial-scale operations. Investors and industry observers will be closely monitoring the plant's construction timeline and its subsequent operational performance. The successful deployment of this technology could influence future investment trends within the broader waste management and recycling sectors, potentially driving demand for similar advanced recycling solutions. The implications extend to the broader plastics industry, potentially impacting the supply chain for virgin PET and polyester. As GR3N scales its operations, it could offer a viable alternative source of recycled materials, influencing pricing and availability. The development also highlights the growing role of specialized venture capital in funding climate-focused technological advancements. The successful execution of the MODUS project could serve as a blueprint for other regions seeking to enhance their plastic recycling capabilities.