A sale representative agreement signed and entered into on the 30th of June 2016 between IBE (IBE Corporation) and STEC (Shanghai Triumph Energy Conservation Engineering Co., Ltd.). STEC authorizes IBE as to be the representative of STEC for the Heat Recovery System and Heat Exchanger (Boiler) for HRS in connection with Korean projects on the same date.

China Triumph International Engineering Co., Ltd (CTIEC) was found in 1953 and is one of world’s largest general contractor of engineering and equipment supply in glass and cement industry. So far CTIEC has designed and constructed over 100 lines of new dry process kiln clinker projection. Its subsidiaries also have supplied or constructed near 130 sets of waste heat recovery power plant for clinker line, in which more than100 sets of such power plant have been under operation until 2015, with unit capacity from 2MW to 20MW. During the past 20 years, CTIEC has finished near 100 overseas project engineering and equipment supply, in which half of them were turnkey project.

Shanghai Triumph Energy Conservation Engineering Co., Ltd (STEC) is a joint venture between CTIEC and Mitsubishi Corporation (MC), who focuses on the waste heat recovery business and the vertical mill design and supply. Based on technology cooperation with Mitsubishi Group, STEC has a license agreement on vertical mill and strategic cooperation in energy conservation industries. STEC has contributed a lot on developing its own technology in industry energy conservation and achieved a certain success on waste heat recovery system. Up till now, STEC has contracted over 50 projects in domestic and overseas, among which 3 projects are successfully completed in Turkey.