India’s Fornnax Technology is continuing to expand its global footprint in 2026 with Europe now emerging as a key growth market for the Gujarat based recycling machinery producer during the last fiscal year.
Fornnax Expands in Sweden and Germany
“We have opened Swedish and German markets last year with 3 lines supplied to Stockholm based tyre recycling firm Bon Orbit AB with three-shredding lines having 10 ton per hour capacity lines of one each for PCR, TBR and OTRs,” informed Jignesh Kundariya, Managing Director, Fornnax Technology Pvt Ltd at the India Rubber Expo 2026 (IRE 2026) in Bharat Mandapam, New Delhi.
Bon Orbit AB will be regarded as one of the largest tyre shredding operators from a single location in Europe once they become operational. “The Swedish order finalised in the last quarter of 2025, currently, installation is going on and lines would likely to be operational by August this year.”
The company owes its swift growth and success with companies such as Bon Orbit AB to its multiple application machinery portfolio in verticals like tyres, e-waste, cable and municipal waste. This has been underpinned by its flagship SR220 Primary Shredder on display at the IRE 2026. A shredder which the company market as a robust, heavy-duty machine engineered to process wide range of waste streams including end-of-life tyres (ELT), ferrous & non-ferrous metals, electronic waste (E-waste), and cable waste.
Kundariya also took the opportunity to touch upon the success their secondary shredder has seen in Europe as well, “we have also supplied R2000 Secondary Shredder to Bavaria (German) headquartered ESTATO Umweltservice GmbH, a subsidiary of the A.T.U Group, regarded as leading European company specializing in the collection and mechanical recycling of end-of-life tyres (ELT), processing approximately 70,000 tons annually.”
Attention Turning to the US market in 2026
The Indian recycling machinery producer has it sights set on being the global market leader by 2030.
“We are moving towards becoming number-one recycling machinery brand globally with our expansion in tier-1 global markets. We categorise India, Europe and the US as tier-1 markets, while we have established firm footprints in the domestic and European markets and now, our focus is on the US market in 2026,” Kundariya added.
Whilst growing in international markets, the company is still pushing ahead in the domestic market as well with a few key installations completed at Fishfa Rubbers and GRP in 2025. The company supplied one 10-tonne tyre shredding line to GRP and Fishfa Rubbers. “The shredding line has been operational at GRP for the last six months, while another line is set to be operational in next month at Fishfa Rubbers,” explained Kundariya.
A significant catalyst for the company’s recent commercial success was the launch of its demonstration plant in Mundra, Gujarat, last year. This facility allows potential clients to witness the machinery’s performance in a live environment before committing to an investment. “Our overall sales doubled following the opening of the Mundra site,” Kundariya noted. “It provides customers with first-hand experience of our operational lines, building the confidence necessary for such high-scale investments.”
New 23-Acre Facility to Boost Capacity by Mid-2026
To keep pace with rising global demand, Fornnax is aggressively investing in a new 23-acre production facility in Ahmedabad. Phase 1 of the plant is scheduled to become operational by July 2026.
This physical expansion is mirrored by a growing workforce. Over the last few years, the company’s headcount has climbed to 300 employees, with plans to reach 500 once the new plant is fully commissioned. According to Kundariya, this would give Fornnax the largest workforce of any recycling machinery group in the world. This growth is supported by a heavy commitment to innovation and visibility, with the company reinvesting 7.5% of its annual revenue into R&D and another 7.5% into global marketing and branding.
Financial Outlook: Targeting INR 2.7 Billion
Fornnax’s aggressive expansion is reflected in its financial trajectory. The company generated INR 1.8 billion in revenue during the 2025-26 fiscal year, with the European market accounting for a substantial 30% of that total.
Looking ahead to the 2026-27 fiscal year, Fornnax has set a revenue target of INR 2.7 billion, driven by a diversifying product portfolio. This follows a consistent trend of 50-80% annual growth over the last four years. While the company pursues global dominance, it remains the leader on its home turf, currently commanding a 90% share of the Indian recycling machinery market.
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FEATURED IMAGE SOURCE: Satnam Singh
