Genan A/S

Genan A/S specializes in recycling end-of-life tyres into high-quality materials, fostering a sustainable circular economy through innovative processing methods and diverse product offerings. Founded in 1990 and headquartered in Viborg, Denmark, Genan A/S focuses on the recycling of used tyres. The company was acquired in October 2021, when Maj Invest Equity took a 51% majority stake from PKA, which retained a minority stake. CEO Thomas Boehme leads the company, steering its operations toward sustainability and innovation.

Genan specializes in the recycling of end-of-life tyres, transforming them into high-quality recycled materials that support a sustainable circular economy. The company processes used tyres by cleaning, shredding, and granulating them, ultimately separating the materials into approximately 75% rubber, 15% steel, and 10% textile fibres. The primary products offered by Genan include uniform rubber granulate, powder, and pellets, which are utilized across various applications, such as in the production of sports surfaces, road construction, and rubber manufacturing. Genan serves a diverse clientele, including manufacturers, construction firms, and various industries focused on sustainability.

The geographical markets for these products extend beyond Europe and the United States, reaching clients in sectors like automotive, construction, and sports material, thereby enhancing the environmental impact globally. In 2023, Genan achieved a revenue of USD 63. 48 mn and an EBITDA of USD 9. 28 mn, reflecting its strong business-to-business transactions where clients purchase recycled rubber products for industrial applications.

The pricing model for these products is based on quality and granule size specifications required by clients, aligning with their sustainable material needs. Following the acquisition in October 2021, Genan plans to utilize the new investment to expand its products and services internationally. The company is targeting specific markets for expansion, although these markets have not been detailed publicly. Genan aims to enhance its product offerings, although specific new products or release dates have not been disclosed.

This strategic growth is aimed at strengthening its market presence and increasing accessibility to its recyclable materials.