The new financing line stimulates a sustainable economic model, in line with EU aspirations, which makes the transition to circular economy and has a major impact in combating climate changes, by reducing greenhouse gas emissions. Thus, the production of synthetic fibers from 100% recycled PET reduces the carbon footprint by 75% compared with the petroleum production.
With investments worth EUR170 million and an installed capacity of recycling and production of over 460,000 tons annually, Green Group contributes to recovering valuable materials from waste. It also contributes to achieving Romania’s recycling targets for plastic waste (PET), glass and waste electric and electronic equipment (WEEE).
Since its takeover by Abris Capital Partners in 2016, Green Group has grown through investments as plastic waste recycling and production of polyester synthetic fiber, which means: an investment of EUR21 million in a new polyester synthetic fiber factory in Urziceni (Ialomita County), with state-of-the-art technology and the modernization of existing plants in Buzau and Iasi, boosting the installed production capacity by 55% to 80,000 tons/year- Greenfiber International S.A. An investment of EUR13 million in automating the sorting and recycling lines in Buzau, boosting the PET waste recycling capacity by 50% to 100,000 tons/year- Greentech S.A., An investment of EUR8 million in a new PET waste processing factory in Lithuania, with an annual recycling capacity of 20,000 tons/year- Greentech S.A. An investment of EUR13 million in a new PET waste processing factory in Slovakia, with a recycling capacity of 45,000 tons/year- Greentech S.A.