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Source: Company Data

The Business

Wolftank-Adisa is active in the petrochemical industry and environmental technology, focusing on the remediation and monitoring of tank farms and environmental protection services for contaminated soils and facilities. The patented application technology, based on high-tech, in-house developed epoxy resins, enables cost-effective and rapid repair of defective tank systems. In addition, a specific service with continuous remote monitoring of rehabilitated plants is included. The complementary engineering and environmental protection services for contaminated soils and facilities ensure that the customers’ entire value chain is covered.


The company comprises a multitude of international companies as can be seen in the picture below: own locations throughout Europe and Asia (Italy, Austria, Germany, Russia and China) and certified partners in other European countries as well as Africa, USA, Middle East, Asia and Australia. Customers vary from major oil and chemical companies, petrol station- and tank-operators, government institutions and municipalities.

Source: Company Data

The company is divided into three different business units: 


  • Environmental remediation (soil & water): remove contamination and pollution from places where tanks were previously located.

  • Tank refurbishment: Technology upgrade for above ground and underground storage tanks and pipes to refurbish tanks in refineries and tank farms.

  • Engineering, Procurement and Construction: Design, build, refurbish, extend conventional, LNG and hydrogen petrol stations, as well as dismantle conventional petrol stations

All the segments have their innovative approach to protect soil, groundwater and air in common.

Environmental remediation:

Source: Company Data

The employed technology has been used for 20 years where soil or groundwater is contaminated. In places where tanks were preventively sealed and controlled, the surrounding soil can be polluted and environmental damage has already been the result. The company is therefore conducting an environmental due diligence to access and determine the damage and degree of pollution and/or contamination. Afterwards they efficiently implement suitable remediation measures until the property is sufficiently cleansed. This can contain the removal of hydrocarbons from the soil and groundwater with their long-standing proven processes: in-situ and ex-situ. In addition to oil companies, target customers include municipalities and government organizations. 


This division showed the most growth in the past, compared to the other two segments. Since 2015, sales grew on average by 28.6% yoy (CAGR 2015-2019). With about 35% of overall sales in 2019, this is the second largest segment in the company, but could possibly draw level in the future with the tank refurbishment segment.

Source: Company Data, AlsterResearch AG

Tank refurbishment: 

Source: Company Data

In this business unit the company refurbishes flat bottom tanks in refineries and tank farms (terminals) of the petrochemical industry. This is the original and still largest business unit of the company. The refurbishment becomes necessary due to the aggressive liquids and substances stored inside the tanks which causes damages in the tank floor inside and the underfloor. Those parts of the tank are very susceptible to corrosion, which enabled the liquids to leak out and pollute the environment. The single-walled floor is thus extended to a double-walled one by using a patented process. This installation is primarily aimed at refineries, tank terminals and companies in the chemical industry. Due to the large number of relatively old and therefore outdated tanks, this segment is in high demand. The refurbishment enables companies to save up to half the costs compared to buying a brand-new tank. 


This division showed strong growth in the past. Since 2015, sales grew on average by 19.9% yoy (CAGR 2015-2019). With about 47% of overall sales in 2019, this segment is still the core of the company, but significantly less so than a few years ago as the company continues to broaden their products and services.

Source: Company Data, AlsterResearch AG

Engineering, Procurement and Construction:

Source: Company Data

The company is a full engineering service provider that designs, builds (by order or as a general contractor), refurbishes, extends and dismantles petrol stations with emphasis on LNG (Liquefied Natural Gas) compatibility. LNG has a volume that is 600 times smaller than natural gas and is therefore very compact and easily transportable but also highly explosive and must therefore be stored in special tanks with high safety measures. The company offers their customers a full service that goes from spotting of the best locations to planning and building with all necessary permits and licenses. In addition to that an innovative database is giving full transparency to clients when it comes to expiring permits.


The centerpiece of the system however, is the underground storage tank, which is cleaned by special robots. Using patented processes, a special epoxy resin value retention layer is then applied to create a gap and thus build a “tank-in-tank”. This interspace is remotely monitored by a vacuum around the clock.

This division showed the least growth in the past, compared to the other two segments. However these numbers cover the fact that LNG and hydrogen petrol station growth has been immense in recent years. This growth however, had been substituted by declining conventional petrol station commissioning (mainly supermarkets in recent years). Going forward, we assume that this segment will be able to show the real sales momentum of LNG and hydrogen petrol station growth. Since 2015, sales grew on average by 13.9% yoy (CAGR 2015-2019). With about 18% of overall sales in 2019, this is still the smallest segment of the group.

Source: Company Data, AlsterResearch AG

Source: Company Data, SRH AlsterResearch AG

Main Products

The company’s products and services can be divided as followed:

Cleaning & Surface Preparation, Lining Systems, Coating Products, Sealing Solutions and Installation Service & Support.

In short, their portfolio comprises special coatings for corrosion protection, highly advances leak protection systems, sealing products and impregnations.

All products contained in those categories can be applied individually or together depending on the work-case. They are mainly used in aboveground and underground storage tanks, catching and bonding areas, ring wall, manhole chambers and other surface areas.


The company is steadily researching and improving their products. For example, they modified epoxy resin basis to withstand the toxic and acidic liquids held in tanks to ensure utmost protection of the steel tanks or concrete surfaces. The resin seals the tanks and guarantees that no sensitive liquids can leak to harm the environment. The liquid epoxy resin can be used universally and offers a long-lasting effectivity.


One of the most important products in the category of lining systems is the method to refurbish tanks called DOPA®. Normally storage tanks hold harmful liquids that can be detrimental for the environment, but need to withstand long-term usage in unfavorable circumstances. Therefore, the tank needs to be extremely durable from the in- and outside.

The DOPA® system is a double-wall coating system which provides high tank integrity for the internal tank lining using the newest technology. It enables to rehabilitate tanks directly on-site without the interruption of site service to ensure business continuity.

The DOPA® coating system is reinforced with a laminate layer in order to provide the required mechanical integrity. The liquid epoxy top layer is classified as solvent-free, high solid, non-flammable, and ensuring safe operation at the construction site and has great chemical resistance.

This process protects the tank twice with the patented double layer system and 24/7 monitoring, that signals any potential leakage enables the company to give a warranty of 10 years.

Source: Company Data

Wolftank-Adisa is active in numerous places worldwide, where Europe is still the core market and combines three-quarters of all company’s sales in 2019. Most of the sales in Europe are generated in Italy (~55%) The European Market will be a candidate for the company’s strategic acquisition to expand their product portfolio and value-added services.

The second biggest market is in Asia, where a subsidiary was founded in 2018 and recently launch the market segment soil remediation (~20% of sales).

The African market is with 4% of sales one of the smallest regions of the company, where the market is very fragmented but continuously growing.

Wolftank-Adisa recently carried out the implementation of pilot projects and is planning to found a subsidiary in Brazil (1% of sales).

The internationalization is a main focus for the company and further pilot projects are planned in 2021 for North America and India and intensification of the progress in Asia and South-America.






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