SHARK SOLUTIONS ApS
SHARK SOLUTIONS ApS is a Danish industrial recycling and materials company that converts damaged laminated glass, including windshields and architectural glass, into recovered PVB-based raw material. Through its subsidiaries and operating sites in Denmark, Belgium, and the United States, the group supplies sustainable input materials to industrial customers in Europe and North America.
Fiscal year 2025 · change from previous year
Development 2021–2025
Business
Share of revenueRecovered polyvinyl butyral produced from laminated glass waste for reuse in industry.
Conversion of damaged windshields and architectural glass into reusable feedstock.
Circular-material products sold into coatings, carpets, flooring, and textiles.
Customers
The company sells to industrial users that need recovered PVB or other sustainable raw materials for manufactured products. Reported end markets include paints and coatings, carpets, flooring, and textiles, alongside broader industrial applications for circular inputs. Customers are attracted by reliable supply, consistent quality, and the ability to replace virgin materials with lower-impact alternatives.
Buy rPVB-based material for formulation and product development as they shift toward sustainable inputs.
Use recovered PVB and related recycled materials in industrial production and product lines.
Purchase circular-material inputs for use in downstream industrial applications.
Supply damaged laminated glass feedstock used to produce rPVB.
Strategy
The company’s strategy centers on scaling circular materials from waste streams into industrial feedstocks with lower carbon intensity. It is also expanding customer adoption across multiple product lines and geographies while maintaining supply reliability and quality consistency.
Broader market adoption turns waste-derived feedstock into a repeatable industrial product line.
Diversification across applications reduces reliance on any single buyer or usage pattern.
Operational consistency is critical because supply interruptions can limit sales conversion.
Geography
Shark Solutions is headquartered in Denmark and operates production sites in Belgium and the United States, including facilities in Georgia, California, and Pennsylvania. The company serves markets in Europe and North America, with site placement chosen to sit close to sourcing partners and reduce transport emissions.
Risks
The business is exposed to production reliability, labor turnover, and execution risk because sales depend on converting waste feedstock into consistent industrial output. It also faces customer adoption risk, as end-market ramp-up can be slower than expected, while its sustainability-led model depends on continued regulatory and customer demand for circular materials.
- Liquidity dependenceImpact: HighLikelihood: High
Ongoing operations and growth require active liquidity management and external support.
Exposure: Group funding and shareholder backing
- U.S. production instabilityImpact: HighLikelihood: Medium
Operational stoppages and interruptions can reduce throughput and disrupt sales fulfillment.
Exposure: PVB production in the United States
- Slower customer ramp-upImpact: HighLikelihood: Medium
New customer introductions and application launches may take longer to convert into revenue.
Exposure: Paints and coatings leads and other new applications
- Employee turnover and skill lossImpact: MediumLikelihood: Medium
High turnover can reduce process experience and increase the chance of production interruptions.
Exposure: U.S. production organization
Accounting
Judgemental itemsOperations in the United States and Belgium must be translated into euros for reporting.
Impact: Can affect reported equity and profit through exchange differences
Liquidity monitoring and future funding assumptions are central to the financial statements.
Impact: May affect classification, disclosures, and valuation judgments
The parent recognized an allowance for intercompany debts, which affects reported results.
Impact: Can reduce parent-company earnings and equity
The group has subsidiaries and pooled-interest accounting that require consolidation judgments.
Impact: Affects comparability of group and parent-company figures
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Last updated: 24/10/2026