GR3N raises €15.5M for first microwave-assisted PET recycling plant

GR3N just raised €15.5 million to turn microwave-assisted PET recycling from a concept into a commercial facility. The Swiss cleantech startup says it is building the world’s first commercial-scale microwave-assisted PET recycling plant, and its Series B round is being used to finance the MODUS project.

Here is the concrete stake: the proceeds from this €15.5 million raise will fund MODUS, a 40,000-ton-per-year facility in Spain. That matters because PET is one of the most widely used plastics, which means the waste stream is huge, and the demand signal for higher-quality recycled output tends to be even bigger. If microwave-assisted processing can scale while keeping economics and material performance competitive, it could change how many businesses think about plastic circularity, not just how one startup sells a technology demo.

The round was led by 360 Capital, with new investor VP Textile also participating. For boards and investment committees, the investor lineup is a quick hint at where this sits in the ecosystem. 360 Capital leading a Series B typically signals conviction beyond the earliest “prove the science” stage. VP Textile joining also suggests the recycling endgame is being watched by stakeholders who care about downstream textile and materials supply chains, where recycled feedstock and consistency are often critical.

So what is different about a microwave-assisted approach? The source frames GR3N as moving toward a commercial-scale, microwave-assisted PET recycling plant, implying the process is not just any recycling line but one built around microwave power to assist PET processing. In practical terms, the strategic question for executives is whether this kind of assistance can deliver scale with workable throughput, yield, and quality. A pilot can be impressive. A 40,000-ton-per-year plant is where the real scrutiny lands: energy use, safety and handling, maintenance, and how reliably the output matches what the market can accept.

The MODUS facility in Spain is the centerpiece here, because location is not a footnote in recycling. Spain positions the project within a European market that is actively pushing companies to move away from virgin plastics, and where regulation and procurement requirements can make recycled content a board-level issue rather than an ESG side quest. While the source does not spell out specific regulatory provisions, the broader context is that Europe has been tightening expectations around plastic waste management and recycled content, which tends to shift recycling from “nice to have” into “budget line item.” A plant of this size is effectively a bet that the regulatory and market tailwinds will stay strong enough to keep demand for recycled PET steady.

This is also a financing milestone that has second-order implications for other players. When a startup claims “world’s first” at commercial scale and raises €15.5 million for that purpose, it changes competitive planning in the sector. Incumbents and other startups that are still at pilot scale now face a new timeline pressure: either accelerate their commercialization, partner, or differentiate. Even if their technology differs, investors and customers start benchmarking against a real, quantified facility target: 40,000 tons per year, in Spain, funded by a Series B.

There is another layer for decision-makers: capital discipline. A €15.5 million raise is not a huge number in mega-cap terms, but for a cleantech process plant it signals a credible next step. The world’s first claim at commercial scale also suggests GR3N is trying to own a category narrative, which can matter when securing customers, signing offtake, and negotiating support or incentives. In recycling, getting the first commercial wave right can shape the next decade of supply. If MODUS performs, it can turn a technology story into an infrastructure story, and infrastructure stories tend to attract follow-on capital faster.

For boards, founders, and investors watching circular materials, the takeaway is simple and urgent: GR3N’s €15.5 million Series B is funding a 40,000-ton-per-year microwave-assisted PET recycling facility in Spain. That is a scale move, not a science project. And if the facility reaches operational reality, it could influence how fast PET recycling capacity grows, how competitive recycled feedstock becomes, and how quickly downstream industries align on circular materials sourcing.