2018/05/31The 2018 General Shareholders Meeting of ECOVE and The Seventh Meeting of the Seventh Term of the Board of Directors
ECOVE held its annual General Shareholders Meeting on 31th May, 2018 in 505 Room, Mellow Fields Hotel. During the meeting, the motions including ”2017 business report, financial statements”, and ”Distribution of fiscal year 2017 earnings ” were all carried.
According to the Business Report, the consolidated revenues amounted to NT$4,479,587 thousand in 2017, decreased by NT$475,978 thousand from the year 2016. The consolidated net profit after tax reached NT$761,339 thousand, decreased by NT$86,758 thousand compared with the year 2016. In addition, cash dividend payable to shareholders of NT$647,312,713 was approved in the Shareholders Meeting (TW$9.68 per share based on 66,871,148 common outstanding shares).
In the same day, the Ex-rights (ex-dividend) record date for dividend were determined to be on August 1st, 2018 in the 7th meeting of the 7th term of the Board of Directors.
2018/05/29ECOVE Evaluated as Top 5% in the” Corporate Governance Evaluation System” Organized by Taiwan Stock Exchange Corporation for Four Successive Years
Taiwan Stock Exchange Corporation (TWSE) and Taipei Exchange (TPEx) announced the 2017 Corporate Governance Evaluation Results. ECOVE were evaluated as top 5% of the 1,536 TWSE listed companies and the TPEx listed companies.
The TWSE and TPEx launched“Corporate Governance Evaluation System”, conducted by the Securities and Futures Institute (SFI) to evaluate the performance of corporate governance among listed companies. The evaluation indicators comprise the 6 categories and 99 indicators: protecting shareholder rights and interests, treating shareholders equitably, enhancing board composition and operation, increasing information transparency, putting corporate social responsibility into practice, and others.
ECOVE, the envision future of which is the most reliable of industry-leading resource cycling services, has honored with top 5% award for four successive years. The four awards demonstrate that ECOVE obeys the laws and regulations and voluntarily enhances mechanism of corporate governance. In the coming days, “the most reliable” ECOVE will continue to strengthen corporate governance and transparency, improve corporation constitution, safeguard shareholder rights, and promote environmental and corporate sustainable development.
2018/05/09ECOVE Introduced the Bang and Clean Technology to Improve the Boiler Operation Rate above 90% in Keelung EfW Plant
ECOVE, the Taiwan’s largest resource cycling services provider, is operating and managing the Keelung EfW Plant. Since the fourth season in 2017, ECOVE has introduced a Bang and Clean technology, developed shockwaves form explosion bags, into the ash area of the superheater to clean ash out. It was far more convenient than Shock Pulse Generators(SPG) used in general in that the operator did not need to shut down the incinerator, reduce loading, or change the existing equipment. The further benefits are that the boiler operation rate is improved above 90% and increased the amount of garbage disposal and power generation at the Keelung Plant.
The incinerator in the Keelung EfW Plant did not run well because of ash accumulation caused by narrow pipeline clearance of the induced draft fan. In order to clean ash out, the operator in the plant had to shut the incinerator down for 400 hours each year, which not only reduced energy efficiency but also increased staff workload.
ECOVE, specialized in operations and maintenance service in the EfW sector, provided with overhaul, upgrading and improving systems and equipment services for 17 out of 24 EfW plants in Taiwan. Through effective maintenance, advancement and upgrading of plant equipment, ECOVE will constantly develop innovative technologies and advance EfW efficiency.
2018/04/16GDDC will Build Taipei’s Largest Solar Power Plant on the Roof of the Beitou Depot
G.D. Development Corporation (GDDC), a subsidiary of industry-leading resource cycling services provider ECOVE, announced on 13th Apr. that it obtained the bid of the solar power plant at the Beitou Depot.
GDDC will complete a total capacity of 3.8MW photovoltaic power facilities, the largest solar power plant in Taipei City, and generate about 4,300MWh green power which could supply for 1,100 households yearly and cut down 22,00 metric tons of carbon emission annually.
GDDC, founded in 2011, is a joint venture of ECOVE and Gintech Energy Corporation with extensive experience in the investment, development, construction, and operation of solar power facilities at Taiwan High Speed Rail stations, Kaohsiung MRT station, Kaohsiung Harbor, and aviation stations in Taiwan. In Nov. 2017, GDDC signed the contract of solar power plant at Beitou Depot with Taipei Metro and would be responsible for the overall planning, investment, construction and operation. The solar power plant will be built in June this year and completed before the end of the year.
2018/03/26SINOGAL Awarded the Contract for Upgrading Facility at Existing Plant in Macau Refuse Incineration Plant
On Mar. 8th, the Macao Environmental Protection Bureau announced the bid winner of the “Upgrading Facility at Existing Plant in Macau Refuse Incineration Plant”. SINOGAL-Waste Services Corporation (for short: SINOGAL), promised not to defer the waste treatment, strive to meet the schedule of operation and maintenance on a mission to the project, and complete this project properly, won this bid accordingly.
Macau Refuse Incineration Plant may at great risk of malfunction for the old facility and equipment are nearly out of date soon. The Macao Environmental Protection Bureau opened the upgrading facility bid as a result.
SINOGAL, established in Macau in 2009, is a joint venture among Taiwan’s CTCI Corporation, ECOVE Environment Corporation, and Consulasia, a subsidiary of Portugal’s Consulgal Group. The company is the sole entity responsible for operation and maintenance of the Macau Refuse Incineration Plant. In 2010, SINOGAL partnered with ECOVE mainly to provide operation and maintenance services for the Macau Hazardous Waste Treatment Plant.
In past projects, SINOGAL, controlled the plant shutdown hours well, formulated a expert construction plan in advance and strictly managed the procedures, was trusted and recognized for the construction quality and the accurate project timeline by the owners. In addition, SINOGAL has comprehensive support from CTCI, the global engineering services provider with extensive experience in design, construction, operation and overhaul of EfW plants. After SINOGAL completes the upgrading project, Macau Refuse Incineration Plant will function properly and local waste will be properly disposed.
2018/03/01GDDC, Turned Kaohsiung Harbor Area into Photovoltaic Power Facility, Honored with “Golden Boat Award” from Taiwan International Ports Corporation
G.D. Development Corporation (GDDC), a subsidiary of industry-leading resource cycling services provider ECOVE, has completed an initiative in Taiwan of constructing a 5,980MWh photovoltaic power facility in Kaohsiung Harbor. GDDC's efforts have been recognized with the “Golden Boat Award- Special Contribution Award” for increasing revenue to Taiwan International Ports Corporation and activate the existing constructions in the harbor.
Cooperated with the National Renewable Energy and Green Port Policy, GDDC obtained the right to construct photovoltaic power facilities in Kaohsiung Harbor through public bidding in 2015. Up to now, GDDC has completed a total capacity of 4.6MW harbor photovoltaic power facility which can generate about 5,980MWh green power and cut down 3,170 metric tons of carbon emission annually. In 2018, the third phase of the parallel operation and additional 1.5MW photovoltaic power facility will be accomplished.
The Golden Boat Award is organized by Taiwan International Ports Corporation and is mainly awarded to outstanding enterprises which improved the management and operation of Kaohsiung Harbor; GDDC is the only awarded company in the solar photovoltaic industry.
In the next few years, GDDC will actively comply with national policies to perform a 20GW solar photovoltaic project and strive for investment opportunities in roof, ground and water fields. In addition, GDDC will cooperate with Gintech Energy Corporation which has extensive experience in the investment and operation of solar power plants in Taiwan and USA markets to look for opportunities in solar photovoltaic projects around the world.
2018/02/06ECOVE Invited to Attend the EAEO Forum to Deliver a Speech on Experiences in Municipal Solid Waste Management in Taiwan
ECOVE, an affiliate of CTCI, is a global engineering services provider that specializes in EfW, waste management, solar power and circular economy business. In the 1980s and 1990s, waste crisis in Taiwan occurred because of limited space to bury garbage and waste. Founded during Taiwan's waste crisis, ECOVE quickly became a leader in EfW, waste management and resource recovery. Not satisfied with merely recovering energy from disposed resources, ECOVE kept improving its operations to recover as much energy as possible. ECOVE's successful experience in the treatment of garbage and wastes was appreciated by the European-Arab Environment Organization (EAEO) and has been invited to the Egyptian Environment Forum to deliver a speech.
EAEO, founded at Switzerland in 2006, is a non-governmental organization that keeps promoting the concept of sustainable development in Europe and Arab countries. It held “the First Arab Economic Forum for Eco-tourism and Protected Areas in Egypt”, which advocated the concept of eco-tourism and conservation of natural resources, has attracted numerous scholars, experts, enterprises and institutions from Saudi Arabia, Egypt, and Jordan.
On behalf of company, Richard Huang, ECOVE sales manager, made a speech on "experience in treatment of municipal solid waste in Taiwan" and introduced the company's successful projects and techniques in the field of circular economy. Huang's speech drew a lively discussion, during which he interacted with participants who recognized that Taiwan's experience in treatment of municipal solid waste could be apply in other developing countries.
As a leader in Taiwan's resource recycling industry, ECOVE, committed to actively participating in national/regional agendas and policies, is willing to share with peers and other countries in the world the successful experience in municipal solid waste management.
2018/01/30ECOVE Tainan Cheng-Hsi EfW Plant Granted a Certificate of Appreciation from Tainan City Government for Providing Health and Safety Tutoring Services
Tainan Cheng-Hsi EfW Plant, operated and managed by the industry-leading resource cycling services provider ECOVE, actively participated in “Health and Safety Family” campaign and built an “ECOVE Cheng-Hsi Family”. As the core enterprise of the family, Cheng-His plant, helping and counseling the small-and-medium-sized enterprises (SMEs) to improve the working environment, has been appraised by the Tainan Municipal Labor Office and granted a certificate of appreciation from Mr. Wang Xinji, the Director of Labor Office.
According to the regulations of Tainan City Government, a core enterprise of labor safety is required to meet the following conditions within three years: honored with Excellent Organization Award for Labor Safety and Health, Five-Star Award for Labor Safety and Health, or a record of no major occupational accidents. ECOVE, taking safety as its top priority, implemented strictly management of labor safety and health in Cheng-Hsi EfW Plant, has not only been honored with the Five-Star Award for Labor Safety and Health, but also obtained the Excellent Organization Award for two years running. In the future, ECOVE will continue to assist other SMEs in improving the labor environment and leading other members of Cheng-Hsi Family towards becoming the safest workplaces with “Zero Accidents”.
2018/01/28ECOVE Environment Services Corp. Receives Praise from Owner for Upgrading the Efficiency of Gangshan EfW Plants
Writtten by: Huang Ming-Te, the Manager of Gangshan EfW Plant, Environmental Protection Business Operation Center, Taiwan Sugar Corporation.
The Gangshan EfW Plant is an incineration facility owned by the Kaohsiung City Government. The City commissioned the EfW plant operation to TSC in 2001. The waste disposal capacity of this plant was designed at 1,350 tons/day (three 450-ton-per-day furnaces), but the operating efficiency began to decline in recent years. This is mainly due to the thinning of furnace tubes, wear and tear of furnace bed and furnace wall slagging. The level of waste in the storage pits has persistently remained at high and a vicious cycle of low EfW plant rate began to roll.
The "garbage problem" has become an urgent matter in the Kaohsiung area, but TSC is a business in the state-owned enterprise system and therefore is required to follow the government procurement procedures and regulations for maintenance of the major system equipment and procurement of various supplies. This is a time-consuming process and very often the expected goals cannot be achieved in the most time-efficient manner, especially for urgent repairs. Under the legal restrictions, investment in equipment maintenance often results in latent effects. Therefore, after a team of the professional consultants was brought into the plant for assessment and diagnosis, in 2016, the Kaohsiung City Government finally launched the open tender for "commissioning a technical service supplier to upgrade the efficiency of the Gangshan EfW Plant" based on the expert recommendations. This tender was targeted to seek a competent technical service supplier to upgrade the equipment and operating environment, in expectation to improve the operating rate and equipment efficiency.
In June 2017, the tender was opened and Ecove Environment Service Corp. won the bid. This company, a subsidiary of the ECOVE founded in 1994, has over 20 years of experience in maintenance and annual service of incinerators and a strong technical backup from its parent company, CTCI, an expert in incinerator construction. In addition, ECOVE has also assisted TSC in annual service and overhaul projects at the Kanding Incineration Plant. Therefore, TSC believed that the company's professional background and experience will help the Gangshan EfW plant to enhance its efficiency.
The scope of this project covers an overall upgrade of EfW equipment and the main incineration processes. In the first stage of equipment upgrade (Jul. to Nov. 2017), improvement of the furnace bed and combustion system has been completed. Compared to the condition before the upgrade, the daily processing volume increased by nearly 300 tons, and the operating rate was increased from 73% to now full capacity. This upgrade has effective relieved the City from the pressure of waste treatment and the neighboring counties and cities have began to seek regional cooperation from the Kaohsiung City EPA. In this project, ECOVE demonstrated high-level of professionalism and dedication from the initial manpower arrangement and seamless integration of daily operations and maintenance work to introducing patented technology, intelligent systems and equipment evaluation and improvement. It is indeed not an easy task to achieve such a remarkable improvement in just six months. Our on-site staff observed that ECOVE's field staffs were very focused and that is why they were able to improve equipment efficiency in such scale and significantly ahead of the schedule. We are very please with such results and recommend highly of their services.
2018/01/27ECOVE Environment Services Corp. Receives Recognition from Owner for Providing outstanding Maintenance Service for Linkou Water Resource Recycling Center
Written by: Huang Ming-Chang, the Section Chief of Sewage Facilities Department, New Taipei City Water Resource Bureau.
The Linkou Water Resource Recycling Center (Linkou Water Center) is the first secondary sewage treatment plant constructed and operated by the New Taipei City Government. It has improved the sanitation of the environment in the Linkou area and alleviated the pollution caused by domestic wastewater, enhancing the quality of life of the residents in the nearby communities.
In order to maintain high performance, high safety and high reliability, the City Government commissioned a private company to operate and maintain the facility. Under such model, the professional capabilities and reputation of the commissioned company become primary considerations.
The Linkou Water Center launched an open review and tender for the facility operation contract and ECOVE won the bid. Immediately ECOVE took over the plant on Jan. 16, 2018, the company sent a team of professionals that is larger than the scale and with more professional certifications required by the contract to implement the project. The team has been diligently communicating with the Water Resources Bureau and more importantly implemented the plans that have met mutual consensuses into the operations. Their positive work attitude and performance up till now has given us a high confidence and met our expectation.
We wish ECOVE to continue expand in the field of professional technical services and expect them to achieve high performance at the Linkou Water Treatment Center, as they have achieved at the nine contact bed treatment plants and Zhonggang Water Resource center. We expect ECOVE to have excellent achievement at the National Public Wastewater Treatment Facility Evaluation organized by the Environmental Protection Administration in June this year. Together, we will create a high quality environment in New Taipei City. Finally, I would like to wish ECOVE flourishing business.