- The financing will be used to build five innovative plants that will convert more than 200 000 tonnes of waste a year into raw materials for industry.
- Approximately 50% of the financing will come from the European Investment Bank (EIB) and the other 50% from Santander.
- The project supports the circular economy, climate action and cohesion between regions.
Greene Enterprise has signed a €224 million financing deal with the European Investment Bank (EIB) and Santander to build five innovative industrial plants in Spain for the treatment of non-recyclable waste. Greene is a Spanish company offering an innovative technology solution for the treatment and recycling of industrial and urban solid waste, biomass and sludge, diverting it from incineration and landfill.
Expected to be operational between 2026 and 2029, the plants will convert this waste into high-value industrial products through advanced pyrolysis technology. They will all concentrate on extracting value from the reject fraction – waste that would otherwise be sent to landfills or incinerated.
The total treatment capacity of the five plants will exceed 200 000 tonnes a year. The waste will be converted into pyrolytic oil, char and other reusable materials for industry, supporting the circular economy and helping reduce CO2 emissions.
The projects to be financed are located in Muel (Zaragoza), La Selva del Camp (Tarragona), San Cristóbal de Entreviñas (Zamora), Madridejos (Toledo) and As Somozas (A Coruña). The Valogreene CML Madridejos and Valogreene Recinor As Somozas plants are in the final phase of construction and are expected to be commissioned in 2026. Two of the plants have been designated as priority interest projects by the autonomous communities of Aragón and Galicia, underscoring their strategic nature.
The construction and commissioning of the Valogreene plants will help boost the local economy and create jobs in the towns where they are located. Once operational, each plant is expected to create more than 20 direct jobs and more than 40 indirect jobs.
The project supports the EU Circular Economy Action Plan and contributes to the EIB’s strategic priorities of climate action and cohesion between regions set out in its Strategic Roadmap for 2024-2027.
Photo legend: Valogreene Recinor As Somozas plant
Background information
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.