GR3N, the developer of a microwave-based depolymerisation method for PET plastics and polyester textiles, has successfully closed a Series B round raising €15.5 million. It said the proceeds, along with a €35 million EU Innovation Fund awarded in 2024, would be used finance the Swiss company’s first industrial scale facility, planned in Spain. Expected capacity is 40,000 tonnes per year.

The DEMETO (Depolymerization by MicrowavE TechnolOgy) technology is said to be able to process all types of PET bottles, including coloured and opaque plastics, as well as polyester textiles with up to 30% other materials such as elastane or cotton.

Financial backers include 360 Capital and new investor VP Textile (Belgium). 

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