Saving energy, saving the world

Wu Daohong, board chairman and founder of Shenwu Technology Group Corp. [Photo provided to China Daily]

Wu Daohong, chairman of Shenwu Technology, makes hobbies like "playing with fire" spin money

"When hobbies make money, great happiness arises," said Wu Daohong, board chairman and founder of Shenwu Technology Group Corp, a leading energy solutions provider in China.

An expert on combustion technology, Wu considers "playing with fire" one of his hobbies. He has been focusing on research into clean combustion for more than 33 years.

Considered an outstanding scientist in energy conservation and environmental protection worldwide, Wu invented the third-generation combustion technology in 2001.

The technology is used in the highly efficient, energy-saving regenerative burner, a world-leading integrated combustion system that Shenwu built and commercialized.

The appliance can save more than 30 percent of energy on average－that's a huge commercial benefit for the company and a big breakthrough for a country that is seeking to save energy and reduce emissions, according to Shenwu Technology.

Wu conducted his postdoctoral research at the China University of Petroleum in 1995.

After that, he founded Shenwu in 1996, which specializes in clean utilization of fossil resources, mineral resources and renewable resources, and industrialization of new technologies.

The company currently has nine subsidiaries, including two A-share companies－Shenwu Environmental Technology Co Ltd and Shenwu Energy Conservation Co Ltd-with a total market value of 60 billion yuan.

Shenwu also provides solutions in energy conservation, atmospheric haze control and environmental protection, with a focus on global fossil resources like coal, petroleum, natural gas and derived fuel.

Its seven key technologies, several techniques and equipment have been recognized by related institutions as measuring up to advanced international standards.

The application of these techniques can not only help manufacturers to reduce more than 90 percent of emissions that cause atmospheric pollution but cut energy consumption by 20 to 30 percent, Wu said.

His focus is on frontier technologies, not small-scale modified research. The company has more than 2,000 patented technologies, which is rare among manufacturing enterprises.

Looking scholarly, Wu puts most of his energy into supervising technical innovation and overcoming technical problems in laboratory.

He is not only the chairman of the group but head of its research institute. Wu has established a knowledge-sharing mechanism: Not just technical staff, even managers, sales teams and receptionists are asked to learn a bit about the company's seven advanced energy conservation and environmental protection technologies.

He goes abroad every month to visit foreign enterprises in different sectors such as ceramics, glass, metallurgy and chemical engineering.

"I'm interested only in profitable and frontier technologies related to energy-saving and environmental protection, so that we could develop market-oriented products to meet the needs of consumers," Wu said.

"As a private company, we have to stay alive in the first place, and then we can think about innovation and development. What we studied and researched must be able to make money in the market. I never think of relying on State subsidies."

Small wonder, in 2007, Newsweek magazine ranked Wu as one of the 100 social entrepreneurs who changed the world.

Forbes ranks him 1,468th among the world's top billionaires (179th among Chinese billionaires), valuing his net worth at $1.78 billion.

Going forward, Shenwu's mission is to become a Fortune 500 company. Although it grew fast, making good use of capital is of great importance, Wu said.

Through mergers and acquisitions, stake buys, going public and other financial routes, the company's core competitiveness can be enhanced and its leading position consolidated, he said.

Wu further said that as a growing enterprise, Shenwu's biggest challenge is staff management and talent retention. He personally oversaw hiring of several professional managers, who were offered incentives like stock options and sweat equity.

"When all my employees also become the company's shareholders, personnel management wouldn't be a big problem anymore. I can devote myself entirely to pursuing my hobby."