EIB and Santander Finance Greene’s Waste Conversion Project with €224 Million for Five Innovative Plants

EIB and Santander Finance Greene’s Waste Conversion Project with €224 Million for Five Innovative Plants

(IN BRIEF) The European Investment Bank and Santander have jointly committed €224 million to Greene Enterprise for the construction of five advanced waste recovery plants across Spain. These facilities will use pyrolysis to convert more than 200,000 tonnes of non-recyclable waste per year into valuable industrial materials, reducing landfill use and CO₂ emissions. Located in Zaragoza, Tarragona, Zamora, Toledo, and A Coruña, the plants will be operational by 2029, with two already nearing completion. The project supports EU goals in circular economy, regional cohesion, and climate action, while also boosting local employment and innovation.

(PRESS RELEASE) LUXEMBOURG, 25-Jul-2025 — /EuropaWire/ — The European Investment Bank (EIB), in partnership with Santander, has signed a €224 million financing agreement with Greene Enterprise to support the construction of five state-of-the-art industrial facilities in Spain. These plants will utilize advanced pyrolysis technology to convert over 200,000 tonnes of non-recyclable waste annually into high-value raw materials, significantly contributing to the EU’s circular economy goals, regional development, and climate action.

The financing, equally split between EIB and Santander, will enable the Spanish company to build the facilities in Muel (Zaragoza), La Selva del Camp (Tarragona), San Cristóbal de Entreviñas (Zamora), Madridejos (Toledo), and As Somozas (A Coruña). Two of the plants—Valogreene CML Madridejos and Valogreene Recinor As Somozas—are already nearing completion and are expected to be commissioned in 2026. All five plants are scheduled to be operational between 2026 and 2029.

Greene Enterprise, a technology-driven Spanish firm, specializes in converting industrial and municipal solid waste, biomass, and sludge into reusable industrial inputs, reducing the need for landfill or incineration. The upcoming plants will focus specifically on processing the reject fraction of waste streams—those that cannot be traditionally recycled—into pyrolytic oil, char, and other secondary raw materials suitable for industrial use. This innovation will help curb CO₂ emissions and bolster Spain’s transition toward a sustainable and resource-efficient economy.

The project has been recognized for its strategic importance, with the autonomous regions of Aragón and Galicia designating two of the plants as projects of priority interest. In addition to environmental impact, the initiative is expected to generate economic benefits at the local level, creating more than 20 direct jobs and over 40 indirect jobs per plant once operational.

This development directly supports the European Union’s Circular Economy Action Plan and is in line with the EIB’s Strategic Roadmap for 2024–2027, which emphasizes sustainable innovation, climate resilience, and regional cohesion. The partnership with Greene exemplifies EIB’s commitment to supporting projects that drive environmental transformation and regional investment.

For additional information about Greene’s technological platform and project pipeline, or to learn more about Sarclisa clinical studies, visit www.clinicaltrials.gov.

EIB

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world.

The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.

All projects financed by the EIB Group are in line with the Paris Agreement, as pledged in its Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.

In Spain, the EIB Group signed €12.3 billion of new financing for more than 100 high-impact projects in 2024. This financing is contributing to the green and digital transition, economic growth, competitiveness and improved services for citizens.

High-quality, up-to-date photos of the organisation’s headquarters for media use are available here.

Greene

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.

Our technology enables the efficient conversion of solid waste into high-quality raw materials. We use an integrated approach that combines advanced separation techniques and innovative chemical processes to extract reusable materials.

The Valogreene solid waste material recovery plants developed by Greene target the currently non-recoverable reject fraction of waste and convert it into sustainable raw materials such as oils, calcium carbonate-rich materials, activated carbon, synthetic waxes and hydrogen. This is achieved through a sustainable and profitable thermosconversion process that aligns with circular economy principles and supports 2030 targets.

High-quality, up-to-date photos of the organisation’s headquarters and projects for media use are available here: https://www.greene.es/multimedia/

Santander

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). This allows the bank to better leverage its unique combination of global scale and local leadership. Santander aims to be the best open financial services platform, providing services to individuals, small and medium-sized businesses, corporates, financial institutions and governments. The bank’s purpose is to help people and businesses prosper in a simple, personal and fair way. Santander is building a more responsible bank and has made a number of commitments to support this objective, including raising €220 billion in green financing between 2019 and 2030. 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.

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SOURCE: European Investment Bank