ESG NEWS

2023/10

Taiwan ECOVE Signs MOU for Renewable Energy Procurement with New Jersey Institute of Technology, Helping NJ Achieve 100% Renewable Energy by 2035

Hsinchu, October 24, 2023 - ECOVE (TPEx:6803), an affiliate of CTCI, a global engineering services provider, has extended its impressive track record in circular economy abroad. On October 21, ECOVE signed a Memorandum of Understanding (MOU) for renewable energy procurement with the New Jersey Institute of Technology (NJIT). This marks a comprehensive partnership between ECOVE and the State of New Jersey. Leveraging over two decades of experience in renewable energy, ECOVE is committed to supporting New Jersey Governor Phil Murphy's ambitious goal to achieve 100% renewable energy by 2035, contributing to the sustainable future of our planet.

ECOVE has a long-standing commitment to the circular economy and renewable energy sectors. With a portfolio of over a hundred solar photovoltaic projects developed, planned, invested, constructed, and operated in Taiwan and international markets, ECOVE has become a trusted name in the industry. In recent years, ECOVE has ventured into solar energy and energy storage investment projects to address intermittent power generation. In the overseas market, ECOVE established Lumberton Solar in New Jersey in 2012 and build one of the state's top ten solar power plants in Lumberton Township. Since its operation began in 2016, the facility has been providing approximately 12 million kWh of renewable energy annually to the local utility company PJM, equivalent to the annual electricity consumption of approximately 3,000 households. ECOVE intends to capitalize on its successful solar energy investment experience in New Jersey to explore new opportunities and expand into other U.S. states.

ECOVE is deeply involved in various business areas such as waste management, renewable energy, recycling, and electromechanical maintenance. It offers environmental services to domestic and international customers, including energy-from-waste (EfW) plants, waste management, wastewater reclamation, solar power generation, PET bottle recycling, and more. With a proven track record, ECOVE has gained trust and recognition from public authorities and private enterprises in Taiwan, Macau, mainland China, Southeast Asia, India, the United States, and other regions. In the future, ECOVE will continue to optimize resource cycling efficiency, acting as a “Guardian of Sustainable Earth” and living up to its vision of becoming the "Most Reliable Provider of Industry-leading ‘Resource Cycling’ Services.”

ECOVE Chairman JJ Liao (middle), President Eric Tiao (right), and Dr. Teik Lim (left), President of New Jersey Institute of Technology, at the MOU signing ceremony.