New World Strategic Investment Limited ("NWSI"), a wholly-owned subsidiary of New World Development Company Limited ("NWD"; Hong Kong stock code: 17) announced today that it has completed the investment in Biomax Environment Holdings Limited ("Biomax"). NWSI's investment in Biomax amounted to approximately RMB 200 million.
Biomax is a company specializing in waste-to-energy with offices in Germany, Beijing, Shanghai and Hong Kong. Biomax focuses on the investment, development, operation and management of waste treatment and renewable energy projects in China. To effectively respond to the need of China's waste management, Biomax not only introduced sophisticated technologies that have been widely adopted in Europe to China, but successfully developed a unique Municipal Solid Waste ("MSW") comprehensive treatment solution, aiming to transform wastes into non-hazardous materials and resources.
Apart from MSW treatment and renewable energy projects consulting, planning, engineering, delivery and commissioning, Biomax also has its own MSW treatment and renewable energy projects in China. Two of these projects are in their very last stage of machine testing and are expected to commence operation shortly. Due to Biomax's advanced technology and rich experiences in MSW treatment in China, Biomax is expected to expand its MSW treatment and renewable energy projects in China significantly in the coming years.
Biomax uses two major technologies for its MSW treatment and renewable energy projects:
1) Waste incineration technology, this technology has reached international emission standards, including complete waste combustion, energy usage and emission control indexes. It features waste detoxification, reduction, reuse and stabilization systems, which greatly reduce pollution threats released during incineration, especially where dioxin emission is concerned; and
2) Anaerobic digestion treatment technology, this is a form of biological treatment technology which uses naturally available anaerobic micro-organisms to decompose organic matters into methane and carbon dioxide. Methane is then collected for heat generation or thermal power generation.
Commenting on the new investment, Mr Adrian Cheng, Managing Director of NWSI and Executive Director of NWD said, "While China's economic growth and urbanization have been extremely significant during the last decade, these achievements have at the same time brought us some environmental issues such as surging MSW. A country like China is eager to have a system which can effectively handle the surging MSW to protect the environment. In response to the waste characteristics of most cities in China, Biomax fully utilizes Europe's cutting-edge anaerobic digestion treatment technology and waste incineration technology in renewable energy application to achieve the goal. We believe this industry is fully supported by the Chinese government as evident in the Eleventh Five-Year Plan and we are delighted to participate in this industry through our investment in Biomax."