Key facts
- GR3N raised €15.5 million in Series B funding.
- The round was led by 360 Capital with participation from VP Textile.
- Funds will be used to build the MODUS plant in Spain.
- MODUS will be the world's first commercial-scale microwave-assisted PET recycling plant.
- The plant will have a capacity of 40,000 tons per year.
Swiss cleantech startup GR3N has successfully raised €15.5 million in a Series B funding round. The investment was spearheaded by 360 Capital, with additional participation from new investor VP Textile. This capital infusion is earmarked for the construction of MODUS, a groundbreaking facility set to be the world's first commercial-scale plant utilizing microwave-assisted technology for PET recycling. Located in Spain, MODUS is designed to process 40,000 tons of PET annually. PET (polyethylene terephthalate) is a widely used plastic.