PlasWiki
Company›HANGZHOU PENNO GROUP CO., LTD.

HANGZHOU PENNO GROUP CO., LTD.

The company focuses on molded pallets made from agricultural and forestry residues to replace conventional solid-wood and plastic pallets. It reports a vertically integrated business model with annual capacity of 10 million standard molded pallets and recycles 150,000 tonnes of resources yearly, exporting to over 30 countries and regions.

0 views0 mentionsUpdated October 20, 2026

Introduction

HANGZHOU PENNO GROUP CO., LTD. is a Hangzhou-based Chinese manufacturer focused on molded pallets and related packaging products made from agricultural and forestry residues such as reclaimed wood, bamboo, straw, and tea branches. Established in 2015, the company positions itself as a producer of eco-oriented logistics materials designed to replace conventional solid-wood and plastic pallets, and it reports a vertically integrated business model spanning raw-material supply, auxiliary materials, manufacturing, and sales.

In the plastics and industrial packaging ecosystem, Penno is notable less as a polymer processor than as a substitute-material producer serving logistics and industrial distribution markets with compressed and molded pallet solutions. Company sources state that it operates multiple production bases in China, has an annual capacity of 10 million standard molded pallets, and recycles approximately 150,000 tonnes of bamboo and wood resources per year. The company also states that its products have been exported to more than 30 countries and regions, including North America, the Middle East, Southeast Asia, and Europe.

History and Development

Penno states that it was founded in 2015 in Hangzhou and built its business around molded pallet manufacturing, initially centered on press-molded wood pallet products. Over time, it expanded into a broader resource-recovery and pallet-processing model, adding sourcing and processing links to its manufacturing chain.

Key development milestones reported by the company include:

  • Establishment of a new-material research institute in Hangzhou focused on molded products and materials development.
  • Accumulation of domestic and international invention patents, together with participation in provincial and municipal research projects.
  • Participation in the formulation of more than 10 national, industry, and local standards, including work described as involvement in national standard drafting for molded pallets.

Public records also show the company being listed in Zhejiang technology-oriented small and medium enterprise inventories and receiving favorable industrial evaluations in Yuhang District, indicating continuing recognition at the local government level.

Business Operations and Segments

Penno’s reported business structure is centered on a full-chain pallet business, from biomass feedstock collection to finished goods sales. The company says it maintains production bases in several Chinese locations, including Hangzhou, Wuhu, Kuytun, and Suqian.

Its operating model can be summarized as follows:

  • Raw-material sourcing: collection and reuse of wood, bamboo, straw, and other agricultural/forestry residues.
  • Materials and auxiliary processing: preparation of feedstock and supporting materials for molded production.
  • Manufacturing: production of compressed or molded pallets, including single-face and double-face variants shown in exhibition listings.
  • Sales and export: domestic and overseas distribution to logistics and industrial customers.

The company’s online exhibitor profiles also place it in packaging and containers manufacturing, reflecting its role in industrial packaging rather than consumer plastics.

Products and Technologies

Penno’s core products are compressed wood pallets and molded pallets made from non-virgin biomass materials. The company describes these products as a substitute for traditional wood pallets and, in some applications, for more expensive plastic pallets.

Main product characteristics

  • Press-molded construction: pallets are formed through molding technology rather than assembled from lumber.
  • Fumigation-free logistics: company materials describe the products as “免熏蒸” or fumigation-free, a relevant property for cross-border shipping where phytosanitary treatment may otherwise be required.
  • Cost competitiveness: exhibition materials state that the pallets can reduce packaging costs by 15% to 50% compared with solid wood and expensive plastic pallets.
  • Resource efficiency: the company emphasizes the use of agricultural and forestry waste as feedstock, supporting a circular-materials narrative.

Technical and R&D profile

Penno reports technical work in molded tray and bamboo-wood mixing processes, including patent activity related to production methods. It also says it has established an applied research institute and cooperates with universities and research organizations on industrialization of new materials.

The company’s technical positioning is therefore centered on:

  • Biomass-based molded packaging
  • Process development for bamboo-wood composite molding
  • Industrial scaling of pallet manufacturing
  • Standardization work for molded pallet specifications

Applications and End Markets

Penno’s pallets are marketed for use in logistics, warehousing, and industrial transport packaging. Company materials and business listings indicate applications in sectors such as:

  • Chemical products
  • Auto parts
  • Printing and publishing
  • Food and beverage distribution
  • General industrial supply chains

These end markets reflect the pallet’s function as a load-bearing unit in storage and transportation rather than as a consumer-facing plastic product.

Global Presence and Market Position

Penno states that its products are exported to more than 30 countries and regions, with sales reach in North America, the Middle East, Southeast Asia, and Europe. Its exhibitor listings in trade-show platforms also indicate continuing international marketing activity through packaging and industrial exhibitions.

Industry reporting on the global wood pallets market identifies Hangzhou Penno Packtech among the companies active in the sector, indicating external recognition beyond the company’s own materials. That said, the company’s market share is not publicly documented in the available sources, so its position is best characterized as a specialized regional-to-export manufacturer rather than a quantified global leader.

Sustainability and Environmental Initiatives

Penno’s sustainability narrative is central to its corporate identity. The company states that it uses recycled wood, bamboo, straw, and tea branches to produce pallets, thereby converting agricultural and forestry waste into industrial materials. It also emphasizes resource recovery, circular use of biomass, and reduced dependence on virgin timber and plastic.

Reported environmental and resource indicators include:

  • 150,000 tonnes per year of bamboo and wood resource recycling utilization.
  • Reuse-oriented feedstocks intended to reduce waste and pressure on primary forest resources.
  • Fumigation-free pallet design, which can reduce some treatment steps in international shipping.

The company’s sustainability claims should be read alongside the broader industry context: molded biomass pallets can reduce reliance on solid wood and may lower waste, but their overall environmental performance depends on feedstock sourcing, transport distances, end-of-life recovery, and manufacturing energy use.

Financial Performance and Economic Impact

Publicly available financial statements were not identified in the provided sources, so revenue, profit, and export value cannot be stated reliably. Available local-government records do, however, show Penno receiving favorable industrial evaluations and policy-related support listings in Zhejiang, suggesting that it is a recognized contributor to the regional industrial economy.

The company’s economic relevance appears to come from:

  • Converting low-value biomass residues into industrial packaging materials.
  • Maintaining manufacturing capacity across several Chinese locations.
  • Serving export markets and domestic logistics chains.

Leadership and Corporate Governance

The accessible sources do not provide a full board or executive roster. Company and professional-network profiles identify the business as being headquartered in Hangzhou, Zhejiang, with the main office in the Xihu District area.

Available information suggests a privately held operating structure with a manufacturing-led management model, but detailed governance disclosures are limited in the public materials reviewed.

Innovations and Future Outlook

Penno’s future prospects appear tied to three industry trends:

  • Substitution of conventional pallets with lower-cost molded alternatives in logistics and export packaging.
  • Circular-economy demand for industrial products made from agricultural and forestry residues.
  • Standardization and performance improvements in molded pallet technology, especially where cross-border trade, traceability, and material consistency matter.

The company’s innovation base is strengthened by patents, university collaboration, and standards participation, which may support broader commercialization of biomass-molded materials beyond pallets. Its ability to scale efficiently while maintaining quality consistency will likely remain central to its competitiveness in industrial packaging markets.

Summary

Hangzhou Penno Group is a Zhejiang-based industrial packaging manufacturer built around molded pallet technology and biomass resource recovery. Its business combines pallet production, materials processing, exports, and standards development, placing it within the wider global movement toward more resource-efficient logistics packaging.

References

  • •

    CPS+ eMarketplace. (n.d.). HANGZHOU PENNO GROUP CO., LTD.HANGZHOU PENNO GROUP CO., LTD.. CPS+ eMarketplace. https://www.chinaplasonline.com/eMarketplace/ExhibitorInfo?CompId=1005028Link