News / Taiwan / cnyes
Cleanaway Taiwan Secures Record NT$2.5 Billion Funding via Convertible Bonds
Industrial Services · Environmental Services · cnyes · 2026-09-10
8422
Waste management leader Cleanaway Taiwan has received regulatory approval for a NT$2.5 billion convertible bond issuance, marking the largest fundraising in the sector's history to support its major BOT incineration project.
What Happened
Fundraising Milestone: Cleanaway Taiwan (8422-TW) has received regulatory approval from the FSC for its third unsecured convertible bond issuance, totaling NT$2.5 billion. This transaction represents the largest capital market fundraising effort in the history of Taiwan's waste management industry.
Strategic Allocation: The proceeds are primarily earmarked for the investment requirements of the Kaohsiung South District Incineration Plant BOT project and the repayment of existing bank loans. With a total investment value of NT$15 billion, this project is considered a cornerstone for the company's long-term growth and future revenue stability.
Operational Strategy: The company is utilizing a 'build-before-demolish' approach for the Kaohsiung project to ensure consistent cash flow from the existing facility during the three-year construction period. Once fully operational, the new plant is projected to generate over 350 million kWh of electricity annually.
Diversified Growth: Beyond incineration, Cleanaway is advancing its circular economy initiatives, including the completion of the Dacheng recycled materials plant and the grid connection of its 70MW fishery-solar project. These developments underscore the firm's transition into low-carbon building materials and renewable energy.