According to the EIB, the project will finance five waste treatment plants utilising pyrolysis technology with an innovative layout. These facilities will enhance resource efficiency and promote a circular economy by generating secondary raw materials, while reducing greenhouse gas emissions by diverting waste from landfill and energy recovery.

The project components aim to meet the requirements of regional and national waste policies and regulations, particularly those focused on achieving higher levels of material recovery from waste. Therefore, they will facilitate the transition to a more circular economy.
Additionally, the project will contribute to climate change objectives by reducing direct greenhouse gas (GHG) emissions from waste treatment.

Recycling technologies such as the one developed in the Project also contribute towards a reduction of the EU's fossil fuel imports, fostering applied innovation and strengthens the recycled pyrolysis oil and char supply chains. Given the capital-intensive nature of the investment, and inherent technology risk coupled with its unproven profitability, the EIB intervention will be key in providing the required resources to carry out this major investment.

Considering the large scale of the investment involved, the Project is expected to have a positive impact on the local economy, supporting sustainable economic growth and job creation and economic and social cohesion. Three plants are located in the Spanish Autonomous Regions of Castilla y Leon, Galicia and Castilla La Mancha, considered as EIB Cohesion priority regions. The Galician plant also falls within a Just Transition Mechanism Area.

The plants are intended to treat around 240,000 tons of waste per year, mainly non-recyclable plastic waste. The Project supports greenhouse gas emission reductions by facilitating the recovery of high-quality secondary raw materials, and mitigates the environmental and climate impacts associated with current waste disposal practices, particularly landfilling.

The Bank is acting as a cornerstone stakeholder in the Project. The EIB's involvement is critical to attract the required debt finance to fully implement the Project, bringing in affordable pricing during a long tenor, for an innovative high-risk project. Construction and execution risks are difficult to apprehend for this type of innovative projects. The Bank provides a signal of the Project's quality, facilitating financing from commercial banks.

Given the Promoter's experience, there is limited need and scope for technical contribution from the Bank.

Information on awarded main suppliers/contractors for the implementation of the envisaged operation is partially available. The list of already awarded procurement counterparts includes companies based in Spain and Italy. The final list of suppliers/contractors will be analysed during appraisal.

As stated by the EIB, Greene Enterprise was founded in 2011 by four chemistry entrepreneurs from Elche, Alicante. Its shareholders include two major investment groups. Greene currently has more than 130 employees.

The company provides the market with an innovative and efficient technology that addresses the need to manage and eliminate materials classified as waste, diverting them from landfill and incineration. This solution applies to various types of waste, notably industrial solid waste, urban solid waste, biomass and water treatment sludge.

Banco Santander (SAN SM) is a leading commercial bank founded in 1857, headquartered in Spain. It is one of the largest banks in the world by market capitalisation. The group’s activities are consolidated into five global businesses: Retail & Commercial Banking, Digital Consumer Bank, Corporate & Investment Banking (CIB), Wealth Management & Insurance and Payments (PagoNxt and Cards).

In the first quarter of 2025, Banco Santander had €1.4 trillion in total funds, 175 million customers, 7 900 branches and 207 000 employees.

No project contacts provided at the time of disclosure.

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