GR3N has closed a €15.5 million Series B led by 360 Capital to advance its microwave-based chemical PET recycling technology and fund construction of MODUS, the world’s first industrial plant using this process.
The company’s MADE technology can process 100% of PET waste — including coloured bottles, films, and textiles that mechanical recycling cannot touch — reducing CO₂ emissions by up to 80% versus virgin PET.
EU regulations require producers to meet 30% recycled PET content by 2030 and 65% by 2040, creating a structural demand gap that mechanical recycling alone cannot fill. Chemical recycling is the only technology capable of meeting it at scale.
Recycling has a dirty secret. Of the 100 million tonnes of PET produced globally every year, mechanical recycling — the dominant technology — can only process transparent and light-blue bottles. That is 15% of the total. The remaining 85% — coloured packaging, films, blended textiles, contaminated waste — goes straight to landfill or incineration. For 13 years, Swiss cleantech company GR3N has been building the technology to fix that.
Lugano-based GR3N, founded in 2013, has closed a €15.5 million Series B led by 360 Capital, the Paris and Milan-based deep-tech and climate-tech VC. VP Textile joins as a new strategic investor. The round brings GR3N’s total funding to approximately €24 million across all rounds. Growth Capital acted as financial advisor.
