GR3N Raises €15.5M Series B To Build First Microwave-Based PET Recycling Plant

Founded in 2013, GR3N has developed MADE (Microwave-Assisted Depolymerisation), a patented chemical recycling technology it positions as one of the most efficient microwave-based solutions for PET recycling.

The technology is designed to process 100% of PET waste, including packaging, textile fibres, films, and coloured plastics materials that are largely unrecyclable through conventional mechanical methods.

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The company notes that PET is among the world’s most widely used plastics, with an estimated market of around 100 million tonnes. Today, roughly 98% of recycling relies on mechanical processes, which are typically limited to clear and light-blue bottles about 15% of total PET waste leaving the remaining 85%, including textiles and mixed plastics, to be landfilled or incinerated.

GR3N argues that rising regulatory pressure and brand commitments are accelerating demand for recycled PET. In the EU, upcoming Packaging and Packaging Waste Regulation targets require minimum recycled content of up to 30% by 2030 and 65% by 2040 while global beverage brands are also setting similar goals. The company positions chemical recycling as essential to meeting this scale of demand.

Its MADE technology reportedly enables high-yield recovery of PET monomers while reducing CO₂ emissions by up to 80% compared with virgin PET production. Unlike competing approaches such as glycolysis, methanolysis, or dissolution MADE is designed to avoid feedstock constraints and produces food-grade monomers that can be recycled repeatedly without performance loss. GR3N’s IP portfolio includes two patent families for the depolymerisation process and one covering its proprietary equipment (PEQ).

The Series B proceeds will support development of MODUS, GR3N’s first industrial-scale plant, planned with a capacity of 40,000 tons per year in Spain in partnership with Intecsa Industrial (part of the Cobra IS group), which will lead engineering and EPC execution.

The project has also secured a €35 million grant under the EU Innovation Fund, with financial close targeted for Q4 2027 and commercial operations expected by Q2 2030.

“I am very excited to join this talented team with the goal to bring the Microwave Assisted Depolymerisation technology to the market and make it the Best Available Technology for PET chemical recycling. With this round, and the support of our financial and industrial partners, we accelerate the construction of the First-Of-A-Kind plant operating our technology,” said Martin Stephan, CEO, GR3N.