ecoWise completed acquisition of a 24MW biomass co-generation ...
ecoWise completed acquisition of a 24MW biomass co-generation ...
ecoWise completed acquisition of a 24MW biomass co-generation ...
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The Group will focus on the retr<strong>of</strong>itting and upgrading <strong>of</strong> the CEBEC Plant to preparefor re-<strong>co</strong>mmissioning <strong>of</strong> the plant by late 2014. We believe that the CEBEC Plant can<strong>co</strong>ntribute positive returns and value for shareholders upon <strong>co</strong>mmencement <strong>of</strong> steadyoperation.”Mr Low Kian Beng, Executive Director, <strong>e<strong>co</strong>Wise</strong>--END--ABOUT ECOWISE HOLDINGS LIMITED (Bloomberg Ticker: ECW SP)Founded in 1979, <strong>e<strong>co</strong>Wise</strong> Group is a Singapore based resource re<strong>co</strong>very, renewable energy andintegrated environmental management solutions provider. The Group has the following threebusiness segments:Resource Re<strong>co</strong>very segment – In Malaysia, the Group owns a leading rubber <strong>co</strong>mpoundmanufacturing and tyre retreading group under Sunrich Integrated Sdn. Bhd and its subsidiaries.Through a new 65% held <strong>co</strong>mpany established in December 2012, Chongqing e<strong>co</strong>-CTIG RubberTechnology Co., Ltd., the Group will be undertaking total tyre management business in China.In China, the Group is in electrical and electronic waste recycling business through a 15% investmentin Chongqing Zhongtian Electronic Waste Management Co., Ltd, which has an exclusive e-wastelicense awarded by the government for <strong>co</strong>llection, re<strong>co</strong>vering and disposal <strong>of</strong> electrical and electronicwaste.In Singapore, the Group is an appointed term <strong>co</strong>ntractor for <strong>co</strong>llection <strong>of</strong> used <strong>co</strong>pper slag andgeneral waste for certain shipyards and fabrication yards. A large portion <strong>of</strong> the recycled <strong>co</strong>pper slagis used by ready mix <strong>co</strong>ncrete suppliers for the production <strong>of</strong> e<strong>co</strong>-<strong>co</strong>ncrete.The Group’s patented <strong>co</strong>mposting technology, e<strong>co</strong>ACT TM , employs the unique in-vessel thermophilic<strong>co</strong>mposting technology to manufacture quality organic <strong>co</strong>mpost in the shortest possible time.Renewable Energy segment – The Group owns and operates the <strong>biomass</strong> <strong>co</strong>-<strong>generation</strong> plant atthe i<strong>co</strong>nic Gardens by the Bay (Marina South), Singapore. The Group’s <strong>biomass</strong> <strong>co</strong>-<strong>generation</strong> powerplant in Sungei Kadut supplies waste steam for a number <strong>of</strong> industrial applications.The Group’s 49% held subsidiary in Wuhan, Wuhan <strong>e<strong>co</strong>Wise</strong> Energy Co., Ltd., currently owns a25MW <strong>co</strong>al fired power plant which ceased operation pending for the <strong>co</strong>mmencement <strong>of</strong> the processto <strong>co</strong>nvert it into a 25MW <strong>biomass</strong> <strong>co</strong>-<strong>generation</strong> power plant.Integrated Environmental Management Solutions segment – The Group provides resourcesmanagement and integrated environmental engineering solutions for industrial waste and energymanagement.For more information, please refer to <strong>e<strong>co</strong>Wise</strong> <strong>co</strong>rporate website: www.e<strong>co</strong>wise.<strong>co</strong>m.sgIssued for and on behalf <strong>of</strong> <strong>e<strong>co</strong>Wise</strong> Holdings LimitedBy Financial PR Pte LtdFor more information, please <strong>co</strong>ntact:Romil SINGH / KEE Vern Cheng / Kathy ZHANGromil@financialpr.<strong>co</strong>m.sg / verncheng@financialpr.<strong>co</strong>m.sg / staff@financialpr.<strong>co</strong>m.sgTel: (65) 6438 2990, Fax: (65) 6438 0064
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