CSET acquires Stiefel brand and intellectual property

China Sciences Ecorizon Tech Co Ltd (CSET) has acquired the Stiefel Group brand and its intellectual property assets, including advanced water-cooled waste incineration technology, in a move the company said would strengthen its ability to develop and export integrated waste-to-energy solutions.

The acquisition comes at a time when the global waste treatment sector, particularly in China, is facing greater technical challenges. As the calorific value of municipal solid waste continues to rise and environmental standards become increasingly demanding, traditional air-cooled incineration systems face pressure to improve efficiency and adaptability.

The acquired water-cooled waste incineration technology was developed to address these challenges. Compared with conventional air-cooled systems, water-cooled technology can better handle waste with a higher calorific value, achieve more complete combustion and improve thermal efficiency.

The significance of the transaction extends beyond a single corporate action. For much of its development, China’s WtE industry relied on licensing agreements with overseas incineration technology providers. While such licensing provided access to proven technologies and helped accelerate the growth of domestic waste incineration capacity, it also meant Chinese companies often operated within the boundaries set by overseas intellectual property owners.

“The ability to control, upgrade and independently apply core incineration technologies without geographical restrictions is becoming increasingly important in the global environmental industry. Bringing Chinese solutions to customers worldwide has always been a vital M&A strategy we have pursued,” said Zijia Yan, general manager of the Investment & Business Development Department of CSET, who was involved throughout the acquisition process.

The deal, he added, addresses gaps in China’s WtE technology capabilities and reduces overseas companies’ dominance in core incineration technologies.

For CSET, the acquisition represents more than a technology investment. It is part of a broader transformation of its business model.

The company has traditionally been positioned as a top-tier WtE investor, operator and equipment supplier. Following the acquisition, it aims to become a comprehensive green energy solutions provider, particularly as a core carrier of the "China Solution," offering an integrated package of technology, complete equipment, O&M and services across the full project lifecycle.

This shift reflects a changing competitive landscape in the waste-to-energy sector. As project opportunities become more customized and sophisticated, customers increasingly require suppliers that can provide not only equipment, but also technological expertise, operational experience and long-term service capabilities.

With ownership of the complete boiler island technology package from the waste crane to the stack, CSET will be better positioned to combine complete equipment provision, high-end engineering and operational capabilities into a single business model, thus creating a replicable and scalable template for the "China Solution."

The acquired technology was developed by a company with decades of international experience in waste incineration. Stiefel, a Switzerland-based waste incineration technology provider, has more than 50 years of industry experience. Jakob Stiefel GmbH, founded in 1973, initially focused on installation and maintenance services before expanding into engineering. It introduced water-cooled technology for waste incineration in 1988, which was later applied to complete grate systems and retrofit projects.

The acquisition also provides CSET with access to established market relationships, market channels and international project experience in Europe, South Asia, Japan and the Republic of Korea. The company plans to independently improve the technology and explore opportunities for technology licensing in overseas markets, transforming operational experience validated by China's large-scale market into globally competitive intellectual property.

CSET, a subsidiary of Chinese Academy of Sciences Holdings Co Ltd, develops green solutions for municipal waste, kitchen waste, sludge, industrial waste and medical waste treatment. Through WtE technologies, it produces green electricity, green steam and biogas while supporting China’s carbon reduction and pollution control objectives.

The company has continued to expand its technology and product portfolio by pairing strategic acquisition with robust organic R&D investment, developing capabilities across both water-cooled and air-cooled incineration systems. It also has expertise in flue gas cleaning technologies and intelligent automatic combustion control systems.

Before the acquisition, the company had already developed strong capabilities in green steam technology. From Shijiazhuang in the north and Ningbo in the east to Mianyang in the west, CSET has deployed a network of landmark integrated green steam hubs, serving a diverse portfolio of regional industrial enterprises and residential communities. With a total capacity of over 20,000 tpd, the company could potentially generate up to 2 billion kWh of green electricity annually once all projects are in operation, saving about 245,800 tonnes of standard coal and cutting CO2 emissions by 1.642 million tonnes, equivalent to planting 91.22 million trees.

The company’s 1H2026 revenue surged 36.05 percent year-on-year to 1.15 billion yuan ($171.16m), while net profit attributable to shareholders rose 16.03 percent year-on-year to 227.72 million yuan.