2009 Frost & Sullivan Company of the Year Award in Asia Pacific Energy-from-Waste (EfW) Market to Covanta Energy

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Feb 22, 2010, 04:51 ET

SHANGHAI, Feb. 22 /PRNewswire/ -- The 2009 Frost & Sullivan Company of the Year Award in Asia Pacific Energy-from-Waste (EfW) Market is presented to Covanta Energy Asia Pacific Holdings Ltd. (Covanta Energy). Frost & Sullivan presents this award annually to a company that has demonstrated excellence in all operations including business development, competitive strategy, and leadership.

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Covanta Energy earned this award for its exceptional customer service, the ability to combine technology and successful strategic initiatives and superior market growth skills to register significant gains in the market, announced Frost & Sullivan.

"Receipt of the Frost & Sullivan Award is a clear recognition of the collective efforts of the Covanta Energy team over the years to position the Company to become a leading EfW player in China," says Allard Nooy, President of Covanta Energy, Asia Pacific. "We believe that the environmental benefits of EfW as an alternative to disposing of waste in landfills are clear and compelling; EfW reduces greenhouse gas emissions, lowers the risk of groundwater contamination associated with landfills, and conserves land. At the same time, EfW generates clean, reliable energy from a renewable fuel source."

EfW or Waste-to-Energy (WTE) is a process that takes municipal solid waste (MSW) through an environmentally friendly combustion process where it is reduced to 10 percent of its original volume in the process. The heat generated from the combustion chambers produces steam which can be sent through a turbine that continuously generates electricity. According to Ministry of Environmental Protection of PRC (MEP), 154.7 million tons of MSW were generated in 2008 in China. The volume has increased steadily over the past few years and is likely to continue the trend due to rapid urbanization. Given the situation and national support during the 11th Five-Year Plan period, EfW is considered an efficient treatment method and therefore one of the most environmentally preferred means of treating MSW in China. Covanta Energy responded to the market potential promptly through relocating its Asia Pacific HQs to Shanghai, China. Its regional offices in Beijing, Guangzhou and Chongqing assisted with its significant expansion in 2009 as well.

"Covanta Energy has demonstrated strategic differentiation by combining its extensive EfW industry knowledge with local management expertise to deliver innovative strategies for growth and project implementation," says Frost & Sullivan industry Research Manager Vivian Chen. "Covanta's focus on working cooperatively with partners and customers, its outstanding environmental performance record and its emphasis on corporate social responsibility truly set it apart as a leader in the EfW industry."

Covanta Energy's WTE facilities utilize MSW to generate clean renewable energy and offset the generation of greenhouse gases (GHGs). Besides its commitment to environmental protection, as a member of the local community, Covanta Energy is also practicing Corporate Social Responsibility (CSR) through various means. One of the examples is the "We Care, We Share" staff volunteer project, which was launched in December 2009.

About Covanta Energy

Covanta Energy is an internationally recognized owner and operator of Energy-from-Waste and power generation projects. Covanta owns, has equity investments in, and/or operates close to 60 energy generation or ancillary facilities worldwide. The energy generation facilities use a variety of fuels, including municipal solid waste, wood waste (biomass), landfill gas, water (hydroelectric), and fossil fuels. The company also owns or operates several businesses that are associated with our Energy-from-Waste operations, including a waste procurement business, landfills, and several waste transfer stations.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best in class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation and implementation of powerful growth strategies. Frost & Sullivan leverages nearly 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 40 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com.