ZhongDe Waste Technology

What ZhongDe Waste Technology does

ZhongDe Waste Technology AG is a Frankfurt-listed (Prime Standard, ticker ZEF) Chinese waste-to-energy company founded in 1996 that designs, builds, and operates waste incineration plants for municipal solid waste, industrial waste (including hazardous waste), and clinical waste. The company employs four combustion technologies — grate incineration, pyrolysis, rotary kilns, and fluidized bed combustion — integrated with flue gas purification, heat recovery boilers, and steam turbines for electricity generation. Its product portfolio spans the LCH series (100-200 tons/day) and SSR series for smaller municipalities, as well as large-scale waste-to-energy plants with capacities up to 2,000 tons/day.

The company generates revenue through three primary models: EPC (Engineering, Procurement, Construction) contracts as general contractor for large waste-to-energy projects, with revenue recognized on a percentage-of-completion basis; BOT (Build, Operate, Transfer) projects where it builds, operates, and transfers facilities under 30-year concessions, generating recurring revenue from municipal waste disposal fees (e.g., RMB 70/ton, inflation-adjusted) and electricity sales to the grid; and BOO (Build, Own, Operate) projects with indefinite operating periods. All major customers are Chinese municipal governments, with project contract values historically ranging from EUR 3.9 million to EUR 44.5 million.

ZhongDe has constructed approximately 200 waste disposal projects across 13 Chinese provinces since 1996. Its registered headquarters is in Frankfurt, Germany, while operational headquarters and a second production facility (~67,000 sqm) are located in Beijing. In October 2016, the company divested its subsidiary Chung Hua Environment Protection (Holding) Group to Capital Yield Group for approximately EUR 122 million, transferring major BOT projects in Lanzhou, Zhoukou, Xianning, and Kunming. The company has strategic partnerships with Veolia Environmental Services, Genesis Energy Holdings, Covanta Energy, and ThyssenKrupp Xervon Energy for international project development and technology cooperation.

Name

ZhongDe Waste Technology

Legal name

ZhongDe Waste Technology AG

Website

https://zhongde-ag.de

Company type

Public

Founded year

1996

Operating status

Operating

Headcount range

51–100 employees

Short description

ZhongDe Waste Technology AG is a Chinese waste-to-energy company, founded in 1996 and Frankfurt-listed since 2007 (ticker ZEF), that designs, builds, and operates incineration plants for municipal, industrial, and clinical waste under EPC, BOT, and BOO contracts with Chinese municipal governments.

Ownership category

akta.pro rank

Product category

Waste-to-Energy Services

NAICS

Hazardous Waste Treatment and Disposal (562211), Waste Treatment and Disposal (5622), Solid Waste Collection (562111)

SIC

Hazardous Waste Management (4955), Refuse Systems (4953), Sanitary Services (4950)

akta.pro primary industry

Industrial Packaging Waste Services (Pallets, Cardboard, Film, IBCs/Drums—Non-hazardous) (EUAIAGAD)

Keywords

• Waste-to-energy incineration
• Municipal waste management
• EPC project delivery
• BOT project development
• Clinical waste disposal

Headquarters

HQ city

Frankfurt

HQ country

Germany

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Infrastructure, Technology or R&D

Revenue model

1. EPC (Engineering, Procurement and Construction) Project Revenue: ZhongDe serves as the general contractor for EPC projects — responsible for the design, procurement, construction, and installation of waste incineration plants. Revenue is recognized using the percentage-of-completion (POC) method based on project progress. Examples include the Datong project (~EUR 30 million), Zhucheng project (~EUR 30 million), Zhaodong project (~EUR 26 million), and Dingzhou project (~EUR 23 million). These are large, multi-year construction contracts.
2. BOT (Build, Operate, Transfer) Project Revenue: As investor and operator of BOT projects, ZhongDe builds, operates, and transfers Waste-to-Energy plants. Revenue comes from two sources: (1) waste disposal fees charged to municipal governments (e.g., RMB 70 per ton, adjusted annually for inflation), and (2) electricity sales to the grid. BOT projects have long concession periods (typically 30 years) providing recurring revenue streams. Projects include Kunming (700-1,050 t/day), Xianning (500-1,000 t/day), Lanzhou (2,000 t/day), Zhoukou (500 t/day), and others.
3. Sale of Waste Incineration Plants: Prior to its strategic shift toward large EPC and BOT projects, ZhongDe sold small-to-medium waste incineration plants to customers in 13 provinces across China. Plants targeted hospital and healthcare operators (clinical waste) and small-to-medium cities (municipal solid waste). Models included LCH-200, LCH-150, and LCH-100 with capacities of 200, 150, and 100 tons per day respectively.
4. BOO (Build, Own, Operate) Project Revenue: BOO projects involve building, owning, and operating waste incineration plants with no transfer clause, providing permanent recurring revenue. The Feicheng project (160 t/day) is structured as a BOO with an indefinite operating period. Revenue generated from waste disposal fees and electricity sales.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

ZhongDe Waste Technology AG develops, manufactures, installs, and operates waste incineration and waste-to-energy plants for the disposal of municipal solid waste, industrial hazardous waste, and clinical waste, primarily in China. The company acts as a general contractor for EPC (Engineering, Procurement and Construction) projects and as investor/operator for BOT (Build-Operate-Transfer) and BOO projects, generating revenue from project contracts, waste disposal fees charged to municipalities, and electricity sales to the grid.

Product overview

ZhongDe Waste Technology AG is a waste management and energy-from-waste technology company that develops, manufactures, installs, and operates waste incineration plants for the disposal of municipal solid waste, industrial hazardous waste, and clinical waste in China. The company operates two primary business models: EPC (Engineering, Procurement, and Construction) contracts as general contractor for large waste-to-energy projects, and BOT (Build, Operate, Transfer) projects where the company builds, operates, and transfers facilities to municipal partners. The product portfolio centers on waste incineration plants utilizing four distinct technologies: grate incineration (Rostfeuerung), pyrolytic incineration (Pyrolyse-Verfahren), rotary kilns (Drehrohröfen), and fluidized bed combustion (Wirbelschichtverbrennung). The LCH Series (LCH 200, LCH 150, LCH 100) represents the company's medium-capacity models ranging from 100 to 200 tons per day, while the SSR Series represents an updated generation of household waste incinerators designed for improved cost efficiency. Large-scale waste-to-energy plants capable of simultaneous electricity generation constitute the company's strategic growth focus.

Differentiator

Problem solved

Functional benefit

Products and services

• Waste Incineration Plants

Quantifiable outcome

• Datong project: 1,000 tons/day average waste processing, 30 MW power generation, contract value ~EUR 30 million
• +3 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered core.

• Covanta Energy Asia Pacific Holdings Ltd.coreStrategic or Co-development Partner · 7 September 2009Letter of intent signed in Beijing with Covanta Energy Asia Pacific Holdings Ltd., a 100% subsidiary of Covanta Holding Corporation (NYSE:CVA), for cooperation on developing and operating large Waste-to-Energy plants. Covanta is an internationally recognized owner and operator of Waste-to-Energy facilities with projects in China, the USA, and Europe. ZhongDe is primarily responsible for project operations and EPC, while Covanta supports technical implementation. This partnership expands ZhongDe's technical and financial capabilities in both domestic and international markets.
• Genesis Energy Holdings LimitedcoreStrategic or Co-development Partner · 3 February 2009Three-year strategic cooperation agreement where Genesis Energy (as investor and operator) is responsible for investing in and financing waste-to-energy projects, while ZhongDe (as general contractor) handles design, procurement, installation, and construction. Both companies jointly search for investment opportunities in waste-to-energy projects in China and abroad. Genesis Energy Holdings Limited is listed on the Hong Kong Stock Exchange (Ticker 702HK) and is primarily engaged in oil and gas field development, crude oil storage, and pipeline transport.
• Veolia Environmental Services China LimitedcoreStrategic or Co-development Partner · 30 June 2008ZhongDe signed a cooperation agreement with Veolia Environmental Services China Limited to collaborate primarily on tendering for BOT waste-to-energy projects with power generation and their implementation. Veolia Environnement is the world's leading environmental services company with revenues of EUR 32.6 billion in 2007. This partnership enables joint bidding on large Waste-to-Energy projects and strengthens ZhongDe's capabilities in project management of international BOT projects.

Scale indicators10 records

Recent moves10 records

Expansion highlights6 records

Broad incumbents

• Suez SA: Major global environmental services company with WtE, waste collection, water and recycling operations. Overlaps with ZhongDe in WtE technology and municipal waste contracts but operates a much broader portfolio and competes primarily in Europe and developed markets.
• Veolia Environnement: Global environmental services giant and ZhongDe's strategic partner (Veolia Environmental Services China). Operates a broad portfolio including WtE, water, and waste services globally; competes broadly in the same municipal-environmental-services space but is not WtE-pure-play.

Direct peers

• Dynagreen Environmental Protection Group: Major China-focused waste-to-energy company operating municipal solid waste incineration plants under BOT/BOO concessions. Highly comparable business model (long-dated government concessions, disposal fees + electricity sales), customer segment, and technology stack to ZhongDe.
• Shanghai Environment Group: State-affiliated environmental services company operating WtE plants and solid waste treatment facilities primarily in eastern China. Comparable EPC + BOT mix and municipal-government customer overlap with ZhongDe's projects.
• China Tianying Inc. Chinese waste-to-energy operator with large-scale municipal waste incineration assets under BOT concessions. Comparable technology (grate incineration), customer (municipal governments), and revenue model (disposal fees + electricity) to ZhongDe.
• Covanta Holding Corporation: NYSE-listed owner-operator of waste-to-energy facilities globally and ZhongDe's named strategic partner (Covanta Energy Asia Pacific). Directly comparable WtE plant operating model, technology stack, and municipal customer base; competes in international WtE tenders.
• Beijing Enterprises Holdings (BEWG): Hong Kong-listed Chinese environmental services group with substantial WtE and waste-management operations serving municipal governments. Competes with ZhongDe for municipal WtE tenders and concessions across China.
• China Everbright Environment Group: China's largest waste-to-energy operator with hundreds of WtE plants under construction and operation across China. Directly comparable to ZhongDe in core WtE EPC and BOT business model, municipal-government customer base, and Chinese-market focus.
• Sanfeng Environment Group: Chinese waste-to-energy and environmental services company with municipal solid waste incineration plants and BOT concessions. Directly comparable EPC + BOT model serving the same Chinese municipal customer base.

Emerging players

• Hangzhou Jinjiang Group: Chinese waste-to-energy and environmental services operator with municipal waste incineration capacity. Comparable scale and business model in Chinese WtE market; less international presence than ZhongDe but emerging as a direct competitor on Chinese municipal tenders.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/zhongde-waste-technology-ag

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ZhongDe Waste Technology