Make the Circular Economy Come True and Become a Driving Force for Global Sustainable Development

J.J. Liao, CEO of Group Resource Cycling Business

As major global events such as the G20 summit, Climate Week NYC, and COP28 will soon take place, nations are trying to reach consensus and speed up the process to reach the net zero goal. ECOVE Corp., a CTCI company and part of the Group Resource Cycling Business, is committed to the circular economy. ECOVE’s four lines of business, namely “waste management, renewable energy, recycling and reuse, and electromechanical maintenance” are perfectly aligned to such a trend. As ECOVE develops its business and improves its technologies, it is heading towards net zero and also helping customers cut their carbon emissions. Ultimately, this contributes to the global sustainable development and the attainment of the “2050 Net Zero Emissions” vision.

Expand Waste Management and Electromechanical Maintenance Business Based on Rich Experience

ECOVE has a long history managing the waste management business, and has successfully expanded its services overseas, helping customers operate and maintain energy-from-waste (EfW) plants. By generating power from waste instead of fossil fuel, EfW plants help reduce the need for landfill and carbon emissions. Due to such benefits, waste-to-energy has become one of Taiwan’s critical strategies to achieve net zero emissions, namely resource cycling and zero waste. In Taiwan, ECOVE is a leading operator of EfW plants, responsible for the operation of 9 major municipal EfW plants (including Taoyuan Biomass Energy Center, Taiwan’s first new generation EfW plant). Outside Taiwan, ECOVE operates 2 EfW plants in Macau. 2.5 million tons of waste is transformed into power each year, saving 550,000 of fossil fuels.

In terms of business expansion, ECOVE is using its technical experience gained from plant upgrades in Tainan, Hsichou, and Gangshan to aim for other projects across Taiwan, including new EfW plant construction, old plant upgrade, and plant operation. ECOVE also supports Taiwan government’s southbound policy by working with overseas developers who have complementary capabilities, so that ECOVE can continue to expand its market abroad based on its domestic track record in waste management and waste incineration. Apart from Macau’s waste treatment plant that ECOVE has operated for many years, as well as the special and hazardous waste treatment plant, ECOVE has also teamed up with a Malaysian partner to explore local business opportunities.

In the field of electromechanical maintenance, apart from the recent electromechanical equipment upgrade at EfW plants, transportation sites, and high-tech factories, the subsidiary company ECOVE Solvent Recycling Corporation has successfully built, expanded, and maintained waste solvent recycling facilities at multiple high-tech factories. We will aim for business opportunities related to the dynamic testing of trackwork as well as electromechanical equipment maintenance. Utility maintenance, operation, and upgrade are also among our future opportunities.

Green Energy Storage and One-Stop Solar Power Service

ECOVE has over ten years of experience in developing solar power plants, a sector offering one of the most promising type of renewable energy. Over 100 solar power plants that we have developed span across rooftop, ground, and the water surface, and we are involved not only in solar power plant development, but also in planning, investment, construction, and operation. So far, the total installed capacity has reached 157MW, while the total maintained capacity stands at 479MW. Through these solar power plants, we expect to generate 120 million kWh of power this year, which help save 60,000 tons of carbon emissions.

Due to the intermittent nature of solar power generation, an important aspect of Taiwan’s national policy is to develop green energy storage and build strong grid. ECOVE is actively developing this aspect as well. For example, the 5MW energy storage system at Nantou Industrial Area that ECOVE takes part in will be connected to grid in Q4 this year. Once it comes online, the system will become part of the automatic frequency control services for Taipower, the state-owned power company in Taiwan. On the other hand, the “solar power charging and storage system” featured in the “Southern Taiwan Science Park Administration’s solar power installation project” is a three-in-one system intended for EV charging that integrates solar power generation, energy storage, and charging pile. To ensure uninterrupted power supply on cloudy days, the system has a grid-connected design.

Through efforts and innovations in energy generation, energy saving, and energy storage, ECOVE is committed to act as a role model in the green energy sector. It has now successfully created a one-stop solar power service that encompasses investment, development, construction, operation, and power trading. In addition to selling power to Taipower, ECOVE signs power supply contracts with other businesses. Taiwan’s national policy that dictates “20GW of installed solar power capacity by 2025” will serve as a beacon that guides ECOVE explore market opportunities and expand business. But apart from this, ECOVE will continue to introduce tools to improve solar plant O&M performance. 

Improve Recycling and Reuse Efficiency, Create Center of Zero High-Tech Waste

For circular economy to work, it is important to recycle and reuse resources, so that waste generation and consumption of natural resources are minimized. This creates a win-win scenario for the economy and the environment. ECOVE, a long-time service provider in the recycling and reuse business, has expanded its line of business to successfully help multiple customers in Taiwan treat waste solvent that come from the high-tech manufacturing process. Besides, ECOVE offers diversified and customized services by helping customers set up their own waste solvent treatment facilities based on their factory conditions and needs. Working jointly with customers towards the goal of waste reduction, solvent volume reduction, and carbon emissions reduction, ECOVE is implementing the spirit of circular economy. So far, ECOVE recycles and treats 15,000 tons of waste isopropyl alcohol annually to generate 3,500 tons of industrial-grade isopropyl alcohol, the purity of which has been improved from 99.5% to 99.9% thanks to technological advances. ECOVE’s next step is to research and develop methods to purify waste IPA to electronic-grade so that they can be reused in the high-tech plant process.

In the realm of water resource business, ECOVE undertakes the operation work of multiple water resource centers and water reclamation plants built by CTCI Group that intend to treat industrial wastewater, urban sewage, and wastewater generated from the electronic industry. The waster reclamation plants currently operated by ECOVE include those of Southern Taiwan Science Park, Fengshan River, and Linhai, which are forecast to produce 31 million tons of reclaimed water by 2023. The water resource centers operated by ECOVE in Linkou and the Agricultural Technology Park in Pintung are capable of treating 27.5 million tons of wastewater per annum. ECOVE also operates the 12 gravel stone water purification facilities in places across New Taipei City such as Yingge, Sanxia, and Jinshan. In all, these plants and facilities help save precious water resources and protect the aquatic environment by reclaiming and treating water to the best quality possible.

In the future, ECOVE will continue to seek business opportunities related to the operation of new public or private water reclamation plants and seawater desalination plants. ECOVE will also work with CTCI Group, whose strength lies in EPC, in creating a center of zero waste for high-tech parks that features a connected system of water reclamation plant and waste solvent recycling facility. In such a promising business landscape, ECOVE will play the role of the operator and maintenance.

Make Circular Economy Come True and Move a Step Closer to the Net Zero Vision

Nations and businesses around the world are now paying more attention to the circular economy thanks to the unstoppable trend of net zero emissions. This has helped sped up developments in the relevant sectors. As a practitioner in resource cycling, ECOVE has received multiple recognitions for its outstanding performance in dedicating its core capabilities to sustainability. For nine consecutive years it has been selected by the Taiwan Stock Exchange as a top 5% performer in corporate governance. In 2022, it has been commended by the Taipei City Government and Kaohsiung City Government as an “outstanding private entity in green procurement.” In early 2023, it has completed the third-party verification for its greenhouse gas emissions, five years ahead of schedule as mandated by the Financial Supervisory Commission.

Looking forward, ECOVE will continue to stay on track in every major line of business and expand its service scope in pursuing global sustainability jointly with its customers. Based on the spirit of “Every Resource Counts,” ECOVE will keep improving the resource cycling efficiency, remain committed to the goal of “net zero emissions at all offices by 2030, net zero emissions at all offices and fabrication sites by 2050,” and aim to become one of the “most reliable provider of industry-leading resource cycling services.”