Greenwave Circularity Secures $31.5M for Advanced rPET Facilities

Greenwave Circularity, a prominent Indian recycling and sustainable packaging enterprise, has successfully raised USD 31.5 million from the Development Bank of Austria (OeEB) with backing from the European Union’s EFSD+. This strategic investment will enable Greenwave to establish advanced greenfield recycling infrastructure in India to meet surging FMCG demand for sustainable packaging. The upcoming facilities will convert post-consumer plastics—primarily discarded PET bottles—into high-quality, food-grade rPET resin and preforms, alongside scaling capacities for HDPE and PP. Furthermore, the project aims to integrate European recycling innovations and formalize India’s decentralized scrap-collection supply chain through structured partnerships with local waste collectors.

News by Rahul Yelligetti.