EY Entrepreneur Of The Year China 2016 Clean-tech Category Winner
Bay Environmental Technology (Beijing) Corp.
Chairman, General Manager and Founder
Wei Wei founded Bay Environmental Technology (Beijing) Corp (Bayeco) in 2007. Bayeco specializes in industrial volatile organic compounds (VOC) treatment, vapor recovery systems, low-nitrogen combustion and PM2.5 treatment, and provides a one-stop solution for environmental protection issues for the petrochemical industry and other industrial enterprises in China.
Under the leadership of Wei, Bayeco has become a leading provider of environmental protection solutions for industrial gases, and currently has a market share of over 25% in industrial VOCs treatment, thus reducing the emission of VOCs by nearly 30,000 tons annually. For two consecutive years, Bayeco has maintained a sales growth of over RMB100 million, a sales growth rate of over 45%, and a growth rate of net profit of over 14%. Currently, Bayeco has completed multiple rounds of PE funding from investors such as Siemens and China Venture Capital. It submitted an application to China Securities Regulatory Commission for listing on the main board of the A-share market in June 2015, and is currently on the waiting list.
Going forward, Bayeco will focus on the development of ports and docks, and refining and chemical bases, as well as the recovery and treatment of VOCs in petrochemical parks. Bayeco has also developed VOCs treatment solutions for other industries, Currently, Bayeco offers industrial VOCs treatment and oxynitride treatment systems and solutions for industries with VOCs emissions such as in the pharmaceutical, paint and spray, printing, electronics and semiconductor industries, as well as develops innovative technologies to deal with climate change, such as CO2 mineralization and utilization technology.