Demonstrating Execution Excellence for Net-Zero Goal: Fulfilling Our Global Sustainability Commitment

This year marks the 10th anniversary of the Paris Agreement’s entry into force. Amidst the escalating climate crisis, the transition from decarbonization commitments to concrete action is critical to limiting global warming to 1.5°C. This calls for stronger execution capabilities across all sectors as we move toward the next milestone.

ECOVE, recognized as “the most reliable provider of industry-leading resource cycling services,” has, since its establishment, consistently upheld the principle of the circular economy through robust execution capabilities. ECOVE’s long-standing efforts have earned widespread international recognition. It has been selected as a member of the "2025 S&P Global Sustainability Yearbook" and has further received the highly regarded “Industry Mover” honor. In Taiwan, ECOVE has also been repeatedly honored with awards such as the CommonWealth Magazine’s Excellence in Corporate Social Responsibility Award and the Taiwan Corporate Sustainability Awards (TCSA). These achievements stand as compelling evidence of ECOVE’s outstanding execution excellence and its capability to translate net-zero commitments into measurable actions. The following sections outline how ECOVE continues to expand the impact of the circular economy through its four core business areas: "energy resources, recycling & reuse, renewable energy, and system equipment installation & maintenance."

Enhancing Energy Resources Management, Setting a Low-Carbon Circular Benchmark

In the field of energy resources management, ECOVE is not only the market leader in terms of market share, but also the only company in Taiwan to provide a fully integrated, end-to-end service covering the entire value chain—from upstream waste collection and transportation, recycling and reuse, and energy-from-waste (EfW) conversion, to downstream final disposal. ECOVE has also successfully applied this proven operating model to overseas markets. The market’s trust in ECOVE comes not only from its professional "full life-cycle services," but also from its steadfast commitment to "advancing resource cycling efficiency," which has enabled ECOVE to maintain a long-standing leadership position in Taiwan’s waste management and EfW sectors.

Currently, ECOVE operates 11 large-scale EfW plants in Taiwan, accounting for more than 50% of the processing capacity of all privately operated EfW plants nationwide. Through the continuous introduction of AI-driven intelligence and data management systems, ECOVE has steadily improved its operational efficiency. In 2025, ECOVE’s contributions to the circular economy included the annual treatment of approximately 2.91 million metric tons of waste, electricity generation of 1.61 billion kWh, and carbon emission reductions of around 760,000 metric tons, equivalent to the annual carbon sequestration capacity of 1,974 Da’an Forest Parks.

In response to the needs of industrial upgrading, ECOVE leverages its extensive experience in operations and maintenance, together with the EPC (engineering, procurement, and construction) capabilities of its parent company CTCI, to actively participate in investments in next-generation EfW plants as well as the upgrading and improvement of existing facilities. Recent flagship projects include the "Taoyuan Biomass Energy Center," which is already in operation, and the "Chiayi Sustainable Green Energy Center," currently under development. Both BOT projects are aligned with international standards, achieving an energy recovery rate of up to 27%. In addition, they incorporate advanced features such as the conversion of food waste into energy through anaerobic digestion technology, the lowest nitrogen oxide (NOₓ) emission concentrations nationwide, and the adoption of near net-zero carbon building standards for administrative buildings (Energy Efficiency Rating Class 1+), setting new green benchmarks for the industry. Furthermore, based on its outstanding track record in operational performance, ECOVE has once again earned the trust of the client and secured the 20-year Rehabilitate–Operate–Transfer (ROT) contract for the Keelung EfW plant.

In terms of operations and maintenance, ECOVE has recently been awarded the contracts for both the "Taitung EfW plant" and the "Houli EfW plant." Following the takeover of the Taitung plant, under the concerted efforts of the ECOVE team, the single-furnace processing capacity has been increased by 88%, earning strong recognition from the project owner. Meanwhile, ECOVE continues to expand its presence in overseas markets. The Melaka EfW plant project in Malaysia, jointly executed with local partners, is progressing as planned, further extending Taiwan’s successful engineering experience onto the international stage.

Looking ahead, as the contracts of multiple domestic EfW plants gradually approach expiration, ECOVE will leverage its extensive track record in facility rehabilitation and operations, together with the Group’s plant construction expertise, to actively pursue BOT projects as well as opportunities for life-extension and facility upgrades. At the same time, ECOVE will continue to expand into overseas markets, including the Southeast Asia and India, by working with local partners to co-create new value under the "circular economy" framework.

Deepening Recycling and Reuse, Achieving the Zero-Waste Goal

Guided by the philosophy of “Every Resource Counts,” ECOVE actively responds to climate-related risks and is committed to advancing resource recycling and zero waste. In response to the rapid growth of the advanced-tech industry and the resulting demand for the treatment of waste solvents and industrial water, ECOVE leverages its extensive expertise to support advanced-tech manufacturers in deepening recycling and reuse, helping to develop advanced zero-waste centers.

In the area of solvent waste recovery and reuse, ECOVE has, through innovative R&D, increased the purity of recovered waste isopropanol (IPA) to 99.9%, enabling it to be reintroducednto the market supply chain. At the same time, ECOVE continues to invest in the development of electronic-grade technologies (purity ≥99.95%) to further enhance product value. In addition, ECOVE directly supports multiple semiconductor manufacturers by installing on-site recovery facilities, utilizing pyrolysis and distillation technologies to convert process waste liquids into energy and chemical feedstocks, thereby expanding the benefits of waste-to-energy and waste-to-resources solutions. At present, ECOVE recovers approximately 13,000 metric tons of solvent waste annually, producing around 3,800 metric tons of industrial-grade solvents and achieving carbon reductions of about 3,922 metric tons. Each year, ECOVE also assists advanced-tech manufacturers in independently recovering up to 37,000 metric tons of solvent waste on-site.

To enhance water resource resilience, ECOVE’s water operations and management services have expanded from wastewater plants to include water reclamation plant and desalination plants. Key achievements include the operation of the "Southern Taiwan Science Park Water Reclamation Plant," the world’s first plant to regenerate and reuse industrial wastewater for semiconductor manufacturing processes, with cumulative reclaimed water production reaching 63 million metric tons. In addition, ECOVE, together with its parent company CTCI, has been awarded the construction and operation & maintenance contract for the Hsinchu Desalination Plant, which is scheduled to commence operations in 2028 with a daily water supply capacity of 100,000 CMD, providing a stable water source for both the Hsinchu advanced-tech industry and residential use.

ECOVE’s scope of recycling and reuse continues to expand—from waste and wastewater to waste heat. By introducing advanced technologies and integrating resources, ECOVE connects every link in the resource circulation chain, helping customers enhance resource utilization efficiency and jointly build a resilient and sustainable industrial value chain.

Expanding the Renewable Energy Portfolio, Driving the Green Transformation

With the global energy transition accelerating and the growing demand for green power driven by corporate decarbonization commitments, ECOVE continues to expand its solar photovoltaic (PV) services. It is among the few companies in Taiwan capable of providing a fully integrated, end-to-end solution encompassing project development, investment, construction, operations, and green power trading. With an annual power generation of approximately 130 million kWh, ECOVE’s solar assets can meet the annual electricity needs of around 35,000 households, delivering carbon reduction benefits of about 60,000 metric tons. In response to corporate RE100 commitments and Taiwan’s large electricity user regulations, ECOVE has successfully signed 45 MW of green power purchase agreement (PPA). In addition, self-consumption solar PV systems installed at ECOVE’s EfW plants have already commenced commercial operation, generating approximately 400,000 renewable energy certificates annually, further diversifying ECOVE’s green power service offerings. On the operations and maintenance side, ECOVE has introduced drone-enabled inspections and AI-driven thermal imaging analysis, significantly enhancing inspection efficiency and accuracy.

With the variable nature of renewable energy generation and the rising adoption of electric vehicles, ECOVE has introduced energy storage technologies. Beyond participating in Taiwan Power Company’s electricity trading platform for auto frequency control services, ECOVE has integrated solar PV and energy storage in the Southern Taiwan Science Park, creating an all-in-one “Photovoltaic Charging and Storage System” to help clients build smart, low-carbon facilities.

Looking ahead, ECOVE will continue to deepen its presence in the Taiwan market. Overseas, the Company leverages the local advantages of CTCI Americas’ operations, closely monitoring opportunities arising from the "Inflation Reduction Act" (IRA) and the “One Big Beautiful Bill Act." ECOVE plans to adopt a flexible investment strategy, prioritizing standalone energy storage projects and solar PV projects nearing commercial operation or already in operations, with the aim of becoming an influential integrated solar and energy storage investor and further expand its green energy footprint.

Deepening Systems and Facilities Services, Extending Asset Life-cycle

“Extending asset life-cycle” is a key component of ECOVE’s circular economy practices. Leveraging its extensive mechanical & electrical (M&E) expertise and experience in operations, maintenance, and facility rehabilitation, ECOVE provides professional services across various sectors. In the field of transportation infrastructure, ECOVE has successfully executed maintenance and servicing projects for the Kaohsiung MRT, Danhai LRT, and Taoyuan International Airport passenger boarding bridge, while actively pursuing dynamic testing work on metro lines to ensure the stable and reliable operation of transportation systems.

In the fields of advanced-tech facilities and waste management plants, ECOVE goes beyond routine maintenance, focusing on performance optimization. ECOVE has undertaken numerous utility system maintenance projects for advanced-tech plants as well as M&E equipment maintenance for international etching equipment manufacturers, applying its extensive experience in energy-saving upgrades to help clients optimize the performance of water, gas, and electricity systems. For several domestic EfW plants approaching their originally planned decommissioning timelines, ECOVE has successfully extended their operational life-cycle through equipment replacement and technological upgrades, including the Kaohsiung Central and Southern Plants, Gangshan Plant, and Xizhou Plant in Changhua County, thereby reducing resource consumption. ECOVE also collaborated with the Kaohsiung City Government to translate the energy-saving improvements at the Gangshan Plant into a voluntary emission reduction project registered with the Ministry of Environment, achieving a total credit of 3,830 metric tons, effectively converting green technologies into carbon credits.

Looking forward, ECOVE will leverage the Group’s extensive track record in advanced-tech facilities, transportation infrastructure, EfW plants, and wastewater plants to actively pursue future contracts for equipment maintenance and performance optimization services.

Fulfilling Commitments, Creating a Sustainable Future Together

ECOVE is committed to becoming “the most reliable provider of industry-leading resource cycling services,” with every team member aligned with the mission of advancing resource cycling. We will continue to honor our commitment to the environment through concrete actions and will resolutely pursue the path of a circular economy. We expect that, through efforts in resource cycling and efficiency enhancements, we will contribute our efforts to the sustainable development of the planet.