Shenwu branches out with green solutions
A major Chinese energysaving company plans to expand globally by using advanced technology in conservation and environmental protection.
Shenwu Technology Group Corp has put together key projects in Southeast Asia, the United States and Europe, ranging from recycling discarded tires to an environmentally sustainable smelting plant.
The Beijing-based jointstock conglomerate is aiming to work with a company in California in the US to use intensive heat techniques, known as thermal decomposition technology, to break down used tires.
Shenwu has yet to name its partner in the US as negotiations continue. But the project is part of a wider move by the group to push into world markets.
“We are in talks with a company in the US for disposal of tires in California with our thermal decomposition technology,” said Deng Fuhai, deputy general manager of Shenwu.
Other developments on the horizon for the company, that employs 4,000 workers and has nine subsidiaries in the clean energy sector, include an environmental protection project in Finland. This will deal with biodiesel production.
“Shenwu’s technologies are recognized overseas and they are as competitive as those being used in developed countries,” said Zhou Yusheng, a professor at the Central Iron and Steel Institute, one of China’s biggest research and development organizations.
Launched in 1996, Shenwu revolutionized China’s industrial energy consumption by making it more efficient and cleaner.
The group is also involved in projects that produce and promote sustainable use of mineral resources and renewable power alternatives.
Last year, Shenwu’s revenue topped 4.57 billion yuan ($670 million), a rise of 55 percent compared with 2015. Net profit was 286 million yuan during the same period, a jump of 38 percent.
“Its independently researched energy-saving technology has been widely promoted and applied to plants in China, achieving great economic and social benefits,” said Zhou.
Shenwu has expanded rapidly in ASEAN countries as part of the Belt and Road Initiative.
The group is now involved in Indonesia, Vietnam and Cambodia as China helps upgrade infrastructure projects and energy development in the region.
“Indonesia is a key area for our foreign business because Shenwu’s technologies are the right fit for helping to explore the country’s resources,” said Deng
Last year, the company jointed forces with Sangai Ray a Nickel Alloy Co Ltd from Indonesia to help build a $700 million plant to process low-grade red ore of nickel and brown coal.
The plant is due to open in the next few years and will be designed to save energy and cut down on pollution. It will also create much-needed local jobs in the area.
“We will help them in the design and procurement of the smelter and power plant, including the site management,” said Li Quanhua, general manager of Shenwu’s Indonesia office.
“We are now pushing forward with related projects in this country, focusing on electricity and chemical products,” said Deng.
India is another crucial market for Shenwu. As early as 2008, the company worked alongside Tata Group, the largest multinational conglomerate based in India, on energy-saving projects.
“Shenwu is going abroad to promote the development in energy reduction with a comprehensive plan to protect resources,” said Wu Daohong, chairman of Shenwu.
“We adhere to exporting low carbon, clean and recyclable technologies,” said Wu. “That is our promise.”
We are in talks with a company in the US for disposal of tires in California ...” Deng Fuhai, deputy general manager of Shenwu