By bridging the gap between innovation and sustainability, Fornnax is pioneering advancements in recycling technology. We meet the man behind one of India’s fastest growing recycling equipment manufacturers.
Waste management technology and its potential to drive sustainability in the recycling sector has always fascinated Jignesh Kundaria.
Growing up, he was intrigued by the way machines and systems worked, in particular, how it could be harnessed to design and develop innovative recycling solutions for transforming waste into valuable resources.
It sparked a sense of purpose and he became determined to use his skills to make a positive impact. Fast-forward and Jignesh is now the head of a leading technology recycling company with global reach.
“My thought process has consistently revolved around identifying critical market gaps and developing innovative solutions to address these needs,” says Jignesh, Chief Executive Officer and Director of Fornnax Technology Pvt. Ltd.
“The conception of Fornnax was no exception. Recognising the vast potential for growth in India’s and the global recycling industry, I sought to capitalise on this opportunity.”
India is among the world’s top 10 countries generating municipal waste. According to a report by The Energy and Resources Institute, the country generates more than 62 million tonnes (MT) of waste in a year. Only 43 MT is collected, with 12 MT treated before disposal. The remaining 31 MT is discarded.
Jignesh says that between 2008 and 2010 he realised the domestic market for recycling was non-existent, with minimal awareness about the industry’s significance.
Recognising India’s lack of a robust recycling infrastructure, coupled with a passion for sustainability, he was driven to design and develop the recycling market, which is now valued at 2000 crores (about 400 million Australian dollars).
“Our journey began with identifying a market gap and designing our first tyre shredder,” Jignesh says. “It was a significant milestone in our mission to create a comprehensive recycling ecosystem for India.
“We’ve achieved a remarkable feat by capturing more than 90 per cent of the Indian market share in tyre recycling. Building on this success, we’re expanding our dominance into other waste categories, including municipal solid waste, E-waste and cable recycling, with the recent launch of our SR-MAX2500 shredder.”
Jignesh says Fornnax’s commitment to innovation, quality, and customer-centricity sets it apart.
Its specialised expertise in developing tailored recycling solutions has enabled it to secure a substantial market share in tyre shredding and recycling both within India and in prominent international markets, including the European Union (EU) and Australia.
He notes Fornnax’s successful installation of recycling lines in Eastern European companies, which previously relied on European machinery renowned for its high quality, as a significant breakthrough.
“After studying the EU market, we began manufacturing recycling machinery that not only met specific needs but also boasted high capacity. This achievement was a testament to Fornnax’s innovative technology,” he says.
“Additionally, when considering the Indian market specifically, its highly contaminated waste required specially crafted machinery. This made us the go-to partner for Indian businesses seeking reliable, efficient, and customised recycling solutions.”
But it wasn’t an overnight success. It took more than a decade of perseverance, hard work and strategic decision-making to establish the Fornnax brand.
About a decade ago, India lacked stringent policies regarding recycling and waste management. Jignesh says this lack of a regulatory framework presented challenges in building a viable business model for Fornnax Technology.
However, things changed after 2013, when the government’s efforts led to the implementation of landmark policies, such as Solid Waste Management Rules, 2016.
These rules provide guidelines for the management of municipal solid waste, including waste generation, collection, segregation, storage, transportation, processing, and disposal.
“These initiatives emphasised the importance of waste reduction, recycling, composting, and waste management, creating a favourable environment for Fornnax Technology’s growth,” Jignesh says.
“It enabled us to innovate and expand our operations domestically as well as globally.
“We not only carved a niche in tyre recycling but expanded into emerging sectors, solidifying our position as a trailblazer in the global recycling industry.”
Fornnax is aiming high, working toward conservation of nature and natural resources by developing large-scale recycling plants to tackle the globe’s most problematic wastes.
The team collaborates with world-level research and industrial organisations and continues to innovate research-driven advanced recycling techniques.
Ensuring machinery meets high standards of quality, efficiency, and safety requires careful consideration. Jignesh says Fornnax’s research and development team pays great attention to every detail, from design to deployment, ensuring machinery exceeds industry benchmarks and customer expectations.
“This way it is easier for me to stay focused on our mission to revolutionise the recycling industry, while maintaining the trust and loyalty of our clients.”
To this end, Fornnax continues to expand its product portfolio to cater to emerging recycling applications.
Jignesh says the upcoming launch of the SR-MAX2500 shredder will revolutionise waste management efficiency.
The company has invested one billion Indian Rupees (about $17,260,880 AUD) in land and equipment, including a 23-acre plot in Ahmedabad which will be home to one of the biggest tyre recycling machinery manufacturing sites in the world.
It’s an accomplishment Jignesh is proud of, and one he hopes will inspire other young start-ups to prioritise sustainability.
“According to various reports, global municipal solid waste generation is expected to surpass three billion metric tons by 2050, driven by rapid urbanisation and overpopulation,” he says.
“Recyclers venturing into the start-up industry have a unique opportunity to develop innovative solutions that address the critical challenges of waste management, climate change, and environmental sustainability.
“Their entrepreneurial journey has the potential to redefine the future of our planet. I encourage them to embrace challenges, harness technology, and leverage collaboration to create impactful solutions for a better tomorrow.”
For more information, visit: www.fornnax.com
