Comprehensive Resource Cycling Services: Advancing the Power of Net Zero Action

Recognizing the urgent global impact of climate change, countries worldwide have declared their commitment to achieving "Net Zero Emissions by 2050" and have taken actions accordingly to effectively mitigate rising temperatures. In March 2022, the National Development Council released the "Taiwan 2050 Net Zero Emissions Pathway and Strategy Overview" to guide the green transformation of industries. Additionally, the escalation of fossil fuel and raw material prices resulting from the Russia-Ukraine war has made resource cycle and accelerated energy transition crucial challenges for businesses.

As a practitioner of resource cycling, ECOVE is dedicated to aligning with international trends, complying with government policies, and deepening its core business in waste management, recycling, and renewable energy on its path towards achieving net zero. ECOVE strives to connect Taiwan's resource cycling technologies with the international community and continuously assesses external environments and opportunities. Through technology adoption and collaborative research and development, ECOVE explores potential business opportunities in the decarbonization market.

ECOVE's efforts in net zero have yielded significant results in recent years. In the fields of waste management and solar power, ECOVE aims to provide integrated services to its customers. The Company has also expanded its presence in the recycling sector and demonstrated impressive carbon reduction achievements. ECOVE will continue to make tangible contributions to the sustainable development of the planet through up-to-date technologies and comprehensive resource cycling services.

Deepening waste management and expanding integrated services.

Taiwan currently operates 24 large-scale municipal waste incineration plants, processing approximately 6.3 million metric tons of waste each year. ECOVE holds a market share of over one-third in waste incineration capacity in Taiwan. Furthermore, ECOVE successfully won the bid for the environmental protection site in Changhua Binhai Industrial Zone last year (2022). It will be developed into a low-carbon recycling and disposal center, completing the final step in waste management. Through this project, ECOVE aims to capture the market for the annual disposal of 100,000 metric tons of inorganic waste. ECOVE has successfully integrated upstream waste collection and transportation management, intermediate recycling, incineration, and final disposal services, achieving the goal of providing customers with integrated waste management solutions.

In terms of incineration plant operations and power generation, ECOVE currently operates eight incineration plants in Taiwan and two in Macau. These plants process over 2.5 million metric tons of waste annually, demonstrating excellent performance. For instance, in Taiwan, the operating rate of incineration plants in 2022 reached 90.9%, surpassing the national average of 84.8%. This significantly contributes to resolving waste management issues for local governments and clients. Moreover, the electricity generated through incineration is equivalent to replacing 550,000 metric tons of fossil fuels. This successful conversion of non-renewable waste resources into energy enhances urban energy self-sufficiency. In the future, ECOVE plans to collaborate with local developers in line with the government's Southbound Policy to export waste management, incineration technologies, and experiences, thereby expanding its business.
To address the fact that most incineration plants in Taiwan have reached their operational lifespan, ECOVE actively participates in the government's "Diversified Waste Treatment Program." It promotes facility upgrades and improvements for aging incineration plants based on the concept of circular economy. These efforts aim to enhance energy recycling and utilization efficiency, extend the lifespan of outdated equipment, reduce resource consumption, and mitigate environmental pollution, breathing new life into aging incineration plants.

Additionally, ECOVE has expanded its incineration plant electromechanical integration technologies and experiences into high-tech and transportation sectors. This includes projects such as high-tech plant utility systems, core mechanical and electrical systems for Kaohsiung MRT, Danhai light rail and the Taoyuan Airport Terminal 1 passenger boarding bridge equipment maintenance. In the future, ECOVE will strive to obtain opportunities for dynamic testing and subsequent maintenance of electromechanical equipment in multiple domestic metro systems, as well as project management opportunities for the installation of skybridges in Taoyuan Airport's Terminal 3.

Integrating recycling and waste reduction + carbon reduction

Adhering to the concept of "cherishing every resource," ECOVE provides integrated waste recycling and reuse services, actively assisting industries in implementing a circular economy while reducing waste. As an example, in the semiconductor industry, ECOVE integrates distillation, extraction distillation, and membrane separation technologies to dehydrate and concentrate waste isopropyl alcohol (IPA) to industrial-grade standards for reuse in the supply chain. This process replaces approximately 3,450 metric tons of primary IPA production annually and reduces carbon emissions by two-thirds compared to primary IPA, achieving remarkable waste and carbon reduction effects.

In the water resources sector, to address the scarcity of water resources and the demand for reclaimed water, ECOVE not only operates and maintains the Linkou Water Resource Recovery Center, Jiangcuilijian Riverside Park, and Pingtung Agricultural Water Resource Plant for wastewater treatment but also expands its expertise to reclaimed water plants. ECOVE participates in the operation of the "TSMC Nanke Reclaimed Water Plant" implemented by its parent company, which is the world's first water plant that recycles and reuses industrial wastewater in the semiconductor manufacturing process. This project has significant implications as it has stringent requirements for water supply stability and quality. Looking ahead, ECOVE will leverage its existing recycling achievements to expand its service scope.

Keeping up with the trend of renewable energy, creating a comprehensive and diversified energy portfolio

Solar Power is a key strategic component of Taiwan's energy transformation. ECOVE's solar power services have expanded from Taiwan to the United States. Currently, ECOVE has developed and operates over 100 solar power projects, with a cumulative installed capacity of approximately 154 MW and a total maintenance capacity exceeding 470 MW. Capitalizing on the opportunities presented by electricity liberalization, ECOVE continues to expand its solar power sales services. In addition to selling electricity to Taiwan Power Company, ECOVE has also signed green energy supply contracts with high-tech and traditional industries. The volume of transactions has steadily increased, assisting businesses in achieving their green energy growth needs and creating new opportunities for low-carbon operations, successfully embarking on a new strategic direction. Becoming one of the few companies in Taiwan that can provide a complete service model from investment, development, construction, operation, to green energy trading, ECOVE is a key player in the comprehensive energy development landscape.

To further diversify its energy portfolio, ECOVE is actively involved in the energy storage field. The construction of a 5MW energy storage system in the central industrial zone is accelerating. By investing in energy storage systems and participating in Taiwan Power Company's power ancillary services, ECOVE contributes to the stability of the power grid.

All personnel are committed to ESG,shaping a new culture of corporate sustainability

With the goal of ESG (Environmental, Social, and Governance) as a driving force for sustainable business operations, ESG is an integral part of ECOVE's corporate culture.

In terms of corporate governance, ECOVE strengthens its adaptability and responsiveness to the global sustainability trend by adopting the BS8001 Circular Economy Guide in 2017, enhancing information transparency, maintaining a robust operational structure, and safeguarding shareholder rights. ECOVE has been honored for eight consecutive years as a top 5% company in corporate governance evaluation by the Taiwan Stock Exchange.

Regarding the environment, ECOVE undergoes the "TCFD Climate-related Financial Disclosures Compliance" audit to assess the risks and opportunities of climate change on business operations. ECOVE formulates strategies to actively develop waste-to-energy plants that comply with renewable energy generation regulations (energy recycle efficiency greater than 25%), engage in renewable energy and recycling businesses, and introduces new technologies and innovative thinking in ongoing projects to reduce carbon emissions and implement energy-saving measures. ECOVE continuously improves climate risk and opportunity management strategies through the PDCA (Plan-Do-Check-Act) cycle.

In the social dimension, ECOVE is committed to promoting environmental education and engaging in community activities. It creates teaching activities on popular SDGs (Sustainable Development Goals) themes for elementary schools and promotes online engineering education through the "CTCI EDU," a resource provided by the CTCI, offering engineering knowledge to college students. In community engagement, ECOVE focuses on "Community Activities in Connection with Operations," "Long-term Community Development," and "Corporate Volunteer-Friendly Partnership" as its key pillars. It encourages employees to actively participate in volunteer activities and contribute to society through practical actions.

Working towards net-zero,ECOVE practices sustainable development on Earth

Net-zero emissions bring goals and hope to global climate action, and ECOVE's business promotion revolves around the circular economy. This is not only a business venture but also a source of pride for all ECOVE employees. ECOVE will continue to integrate green technologies, optimize resource cycling efficiency, and work together with customers to achieve net-zero emissions by 2050, contributing to global sustainable development.