Fornnax benefits from the introduction of EPR in India, as the scheme drives improvements in recycling
The introduction of Extended Producer Responsibility (EPR) and recycling gaining wider acceptability in India gives a much-required impetus to domestic machinery producers to invest in innovation, technology and high-capacity machinery. The Indian government’s proactive role in framing policies that push and promote recycling boosts the evolving sector.
India’s fastest-growing recycling machinery manufacturer, Fornnax Technology, organised the global launch of its high-capacity shredder R-4000 HD at a leading trade fair for water, sewage, solid waste and recycling IFAT India 2023, held between October 17th -19th, 2023, at Bombay Exhibition Centre, Mumbai.
“The new model is an upgraded variant of standard version R-4000. The upgraded variant offers 30 per cent more power, functions with higher RPM and high motor power,” explained Jignesh Kundariya, Managing Director, Fornnax Technology Pvt Ltd, during a post-launch interaction at IFAT.
Fornnax unveiled the world’s biggest secondary shredder, R-4000 HD, on the inaugural day of the event, weighing 40,000 kg with a height and length of 4,860 mm and 6330 mm, respectively. The line has tyre recycling applications, steel cleaning, electronic and electrical waste, etc, and functions on a single 430 HP/320 KW motor. The newly launched equipment has one of the biggest rotors available, weighing 12.5 metric tons.
The powerful shredder has features like an IoT condition monitoring system, which includes auto greasing, controlled temperature, and vibration control and is placed on a wide and stable base frame structure.
Critical components with international warranty
Fornnax was the only recycling machinery producer showcasing this type of machine at the IFAT show. “The objective is to target both global and domestic markets from the new model. The variant is fitted with critical parts sourced from the international market.”
The critical components like motor, gearbox and bearing housing are all sourced from international companies of proven reputation and offered with a two-year warranty to provide overseas service and replacement globally.
“It is a global model to cater to the international audience and the growing domestic market.”
According to the Ahmedabad-based company, in the domestic market, the model targets companies aspiring for higher production levels with reduced manpower and electricity costs.
Investment in R&D up by 300%
The new product is compatible with global standards, which results from investing in R&D. “We have increased the team size by almost 300% in the last couple of years. We recruited the best of talent to introduce innovative product lines to compete with the best of the market.”
Although the machine came out of the production line about six months back, it was immediately sold to Rathi Rubber, which has a site near Chennai.
The operational success of the line gave the go-ahead for regular production and the machine’s official launch. Interestingly, the displayed model is also sold and is going to Tinna Rubber’s upcoming site near Mumbai in Maharashtra for installation.
Orders flowing from domestic & international market
The Fornnax order book is full for the newly unveiled shredder. Currently, it has orders for six installations in the domestic market and one order overseas market from Serbia. “We will soon hire more people to meet the delivery schedule,” said Kundariya.
It has just sold a complete tyre recycling line to Tinna Rubber, comprising a primary shredder, secondary shredder and granulator with 10 tons per hour capacity.
Improving brand visibility leads to European companies seeking JV
With back-to-back participation at global shows, the Fornnax brand has started gaining ground in the domestic and international recycling industry. “Fornnax has been increasingly recognised as an Indian recycling machinery brand with a strong and widening product portfolio. The continuous branding leads to foreign companies approaching us for exploring JV possibilities, specifically from Europe.” According to Kundariya . “It has already expanded its footprints in Kuwait, Oman, Australia, Singapore & European markets.”
The company has allocated a sizeable budget for participating in international exhibitions annually to build its brand globally. It will exhibit at 14 global shows this year.
Meanwhile, with orders flowing from domestic and international markets, Fornnax is now targeting INR 1 billion annual turnover and is considering going public, expecting to be listed in the next 3-4 years.
