News
01
Jul
2024
NOVAX 2024 Annual Shareholders Meeting Pledges Commitment to ESG for Blue Sky, Green Land Initiatives
The 2024 NOVAX Annual Shareholders Meeting took place on June 18 at COZZI Blu Taoyuan. With a substantial increase in the number of shareholders, NOVAX® is laying the groundwork for becoming a publicly listed company. Shareholders were encouraged to attend the meeting to understand key developments, which were conducted according to the standards of a listed company. NOVAX® plans to go public in the fourth quarter of 2025 and be listed by mid-2026. The event attracted hundreds of shareholders, fostering a lively exchange of ideas.
Caption: Nicholas Yang, Chairman of NOVAX Materials Technology Inc., stated that the doubling of shareholders lays the groundwork for NOVAX to become a publicly listed company, highlighting the company's clear future direction.
Nicholas Yang, Chairman of NOVAX Material & Technology Inc., outlined the company's clear future direction, including the IPO, the continuous expansion of i-DEPOT at the gas station, the Blue Sky and Green Land plan, and new developments at the Guanyin plants. Additionally, NOVAX's after-tax net profit in 2023 grew by 131% compared to 2022, with an EPS of 3.45, setting a historical record.
From 2024 to 2027, NOVAX® will continue to promote the Blue Sky Green Land plan, which includes:
- Reduction of Emissions
- Reuse of Waste Mattresses Treatment and making UFuel
- Recycle and Reuse of Waste Industrial Water
- Reduce Specific Thermosetting Plastics by pyrolysis technology
- Recycle of Animal Output and Kitchen Waste
- Renewable Green Diesel
Caption: At the 2024 Annual Shareholders Meeting, NOVAX® pledged to continue implementing the 6R plan, creating blue sky and green land while advancing ESG initiatives.
NOVAX® is one of the largest suppliers of catalytic reductants in the Asia-Pacific region and the first company to produce "AdBlue®", an advanced chemical for creating the blue sky. NOVAX® has partnerships with 10 OEMs and over 20 large fleets with over 500 franchised gas stations across Taiwan, holding approximately 60% of the market. In the future, NOVAX® will continue to lead the automotive urea market, adhering to the company's development strategy focused on "long-term, stable development, environmental protection, carbon reduction, technology, and internationalization." By integrating traditional industries with AI technology applications, NOVAX® aims to enhance brand advantages and create more shareholder value.
Nicholas Yang emphasized the company's operational philosophy of "Respect God and Love People" and "Mutual Benefit for All." With this philosophy, NOVAX® is expected to challenge ourself and achieve new revenue highs continually. The new Guanyin plant aims to fulfill the Blue Sky Green Land plan, approved by the Taoyuan City Government in November 2022, providing incentives and subsidies. The new plant, expected to be completed in the first quarter of 2025, will add momentum to the existing economy.
NOVAX® has initiated a circular economy business by recycling waste mattresses into UFuel. With approximately 900,000 mattresses discarded annually, the second Guanyin plant is expected to begin operations and production in the first quarter of 2025. This plant will provide a complete operational environment and advanced machinery to enhance service capabilities and grow alongside partners.
Additionally, NOVAX® is promoting Mechanical Vapor Recompression (MVR), which uses secondary steam energy to reduce the plant's energy demand. The company is also developing new fuel technology, low-temperature pyrolysis, to reduce energy consumption and align with ESG principles by converting thermoset plastics back into pyrolysis oil, thereby addressing plastic waste environmental issues. The Japanese technology-based Environmental Recycling System (ERS) rapidly ferments waste, significantly reducing it, and managing various types of organic waste to produce animal feed or fertilizer. Coupled with the development of HVO green diesel to reduce carbon emissions, NOVAX® continually takes concrete actions to be an ESG pioneer.