Press release
15 November 2024

Scanmetals acquires a majority stake in Afatek to expand technological leadership position in waste processing and metal recovery

Kirke Stillinge, Denmark – Scanmetals A/S, an internationally renowned leader in non-ferrous metal recycling, has signed an agreement to acquire a 70% controlling interest in Afatek A/S, a leading processor of raw incinerator bottom ash (IBA) from Energy-from-Waste (EfW) plants. This strategic acquisition broadens Scanmetals’ position in the value chain in Denmark and presents significant opportunities for further growth.

Afatek specializes in recovering valuable resources from residual waste products, reducing the need for virgin material extraction, and minimizing greenhouse gas emissions through the recycling and reuse of raw materials. By combining forces, Scanmetals and Afatek will leverage their respective strengths to create a leader in IBA processing and the recycling of recovered aggregates and metal.

Denmark has long been at the forefront of using EfW technology to manage waste efficiently, creating a thriving ecosystem for companies involved in the circular economy. This acquisition positions the newly combined entity as a leader in the recovery of metals and other resources from IBA, setting the stage for further innovation and expansion.

Afatek will continue to operate from its current locations and retain its highly skilled workforce. The existing shareholders, including AffaldPlus, ARGO, Norfors, REFA, and Vestforbrænding, will maintain a 30% stake in Afatek. Scanmetals remains fully committed to serving as a reliable offtake partner for Afatek’s current and future IBA suppliers in Denmark.

This acquisition underscores Scanmetals’ long-term commitment to advancing the circular economy through sustainable and innovative practices in metal recycling and resource recovery.

Ejvind Pedersen, Founder and CEO, Scanmetals A/S:
“The combination of Scanmetals and Afatek brings together unrivalled technical expertise and entrepreneurial spirit. Afatek has been a trusted partner to Scanmetals for over a decade as one of our first suppliers, and this long-standing collaboration has established a strong foundation for this strategic acquisition. We are excited about the opportunities this partnership will create as we continue to advance IBA processing and strengthen our commitment to sustainable resource recovery.”

Trine Lindegaard Holmberg, Chairman of the Board, Afatek A/S:
 “We are excited to embark on this next chapter for Afatek. By retaining a 30% stake, AffaldPlus, ARGO, Norfors, REFA, and Vestforbrænding are excited to follow the long-term success of the company and the new growth opportunities. Afatek will continue to drive innovation in waste processing and metals recycling, while further contributing to a more sustainable and circular economy.”

About Afatek A/S
Founded in 1990 and based in Copenhagen, Denmark, Afatek specializes in the treatment and recycling of incinerator bottom ash (IBA) from Energy-from-Waste facilities, playing a crucial role in the circular economy. By efficiently recovering valuable resources from residual waste, Afatek ensures that materials are reused for new applications, such as in manufacturing of metal products or replacing gravel in construction projects.

About Scanmetals A/S
Founded in 2009 and headquartered in Kirke Stillinge near Slagelse, Denmark, Scanmetals is an internationally renowned processor of non-ferrous metals recovered from incinerator bottom ash generated by Energy-from-Waste facilities. Scanmetals is recognized for its industry-leading segregation capabilities utilizing our environment-friendly, dry process to clean and recover mixed non-ferrous metals from IBA. With a workforce of nearly 200 employees, Scanmetals has operations across Denmark, Germany, the United Kingdom, and Spain.