Maxtherm’s sustainable energy innovations save over US $ 600mn FX

Biomass steam boilers

Maxtherm Lanka (Pvt.) Ltd, a leader in sustainable thermal energy solutions, has successfully helped Sri Lanka retain over US $ 600 million in foreign exchange (FX) by significantly reducing the country’s dependence on imported fossil fuels.

Founded by experienced engineers Eng. Gaya Siriwardhana and Ajantha Muhandiram 14 years ago, the company has consistently pioneered technologies that improve energy efficiency and integrate renewable sources across Sri Lanka’s industrial landscape.

Specialising in steam boilers, hot water generators and customised thermal systems, Maxtherm provides turnkey solutions to key sectors such as tea, rubber, apparel, food and beverage, sugar and fisheries. The company manages every stage of project execution, from design to commissioning, ensuring optimal performance and sustainability.

Through innovative system designs, Maxtherm has achieved exceptional efficiency gains, enabling factories to generate more than four kilogrammes of steam from just one kilogramme of locally available biomass, including firewood, sawdust, rubber seeds, cashew shells and coconut husks. In tea processing, its advanced boilers have proven capable of producing two kilogrammes of made tea from one kilogramme of biomass. 

Ajanta Muhandiram	Gaya Siriwardhane

A landmark innovation by Maxtherm is its solar-concentrated steam generation system, which uses large parabolic mirrors to focus sunlight and generate thermal energy with minimum fuel burning. Following successful pilot tests, the company plans to roll out this technology in full-scale to industrial clients in due course.

Maxtherm has also developed a waste-to-energy process that transforms industrial wastewater sludge into a viable fuel. Using incinerators that meet the Central Environmental Authority standards, the company safely combusts organic sludge to generate steam for industrial use, an approach particularly effective for zones with centralised wastewater treatment systems.

In addition, the company has introduced a plastic pyrolysis process that converts discarded plastic bottles, bags and broken components into clean-burning fuel oil. The process yields a byproduct known as carbon black, which is used in tyre manufacturing as a pigment and strengthening agent.

Maxtherm further utilises paddy husk from rice mills, sawdust from the timber industry and discarded paper from printing operations as cost-effective fuel sources, advancing the use of low-carbon alternatives across the manufacturing sector.

In recognition of its technical excellence, Maxtherm was awarded the Gold award for Best Technology Provider by the Sustainable Energy Authority in 2016, along with a Silver medal in 2017 and a Bronze medal in 2014.

Operating entirely without state subsidies, Maxtherm Lanka stands as a model of how Sri Lankan innovation can deliver real impact—preserving valuable foreign currency, advancing industrial efficiency and supporting the nation’s transition to a greener, more sustainable future.