2012 — Foundation
Founded by Eng. Gaya Siriwardhana and Ajantha Muhamdiram with the vision of providing reliable and sustainable thermal-energy solutions to Sri Lankan industries.

2012–2014 — Establishing the Business
Maxtherm Lanka established itself in the industrial thermal-energy sector, focusing on:

* Steam boilers
* Biomass-fired thermal systems
* Industrial process heating
* Boiler installation and commissioning
* Engineering and after-sales service

2014–2016 — Energy Efficiency & Biomass Revolution
The company increasingly focused on replacing imported fossil fuels with locally available biomass.

This period established Maxtherm’s reputation for:

* Fuel switching
* Biomass boiler technology
* Energy efficiency
* Industrial cost reduction
* Reduction of fossil-fuel consumption and emissions

The company subsequently received national recognition through the National Energy Efficiency Awards, including the Gold Flame Award in 2016.

2017–2020 — From Boiler Supplier to Thermal-Energy Solutions Provider

Maxtherm expanded beyond individual boiler projects into integrated thermal-energy solutions:

Boiler → Steam system → Fuel system → Heat recovery → Pollution control → Operation → Maintenance

The company increasingly became involved in the complete lifecycle of an industrial thermal-energy system.

2020–2023 — Energy-as-a-Service

A major transformation occurred with the development of the BOO / Steam-as-a-Service model.

Instead of simply selling equipment, Maxtherm could provide the customer with the thermal energy itself.

This changed the business model from:

“We sell you a boiler.”

to:

“We provide your industrial steam requirement.”

This is one of the most important milestones in Maxtherm’s evolution.

2023–2025 — Sustainable Thermal Energy

Maxtherm expanded its sustainability platform through:

* Biomass energy
* Fossil-fuel replacement
* Energy-efficiency improvements
* Waste-heat recovery
* Pollution-control technology
* Renewable thermal-energy concepts
* Industrial steam-as-a-service
* Energy audits and optimisation

The company’s reported impact grew substantially, including millions of litres of fossil fuel displaced and significant CO₂ reductions.

2025–2026 — Technology & Energy-Service Company

The latest stage represents a transition from a conventional boiler business into a broader sustainable industrial thermal-energy company.

At the National Energy Efficiency Awards 2025, announced in 2026, Maxtherm received:

* 🥈 Silver Award — Best Energy Efficiency Service Provider
* 🏆 Top performer — Best Technology Provider

Recent reported achievements include approximately 8 million litres of furnace oil/diesel displaced, around 40 million kg of CO₂ reduction, and more than 200,000 kg/day of biomass steam production during the assessed period.

The evolution in one line

2012
Thermal Engineering Company

↓

2014–2016
Biomass & Energy-Efficiency Specialist

↓

2017–2020
Integrated Thermal-Energy Solutions Provider

↓

2020–2023
Energy-as-a-Service / BOO Provider

↓

2023–2025
Sustainable Thermal-Energy Company

↓

2026

A Sri Lankan Sustainable Industrial Thermal-Energy Technology & Services Company

And I would make the founders’ story central to the evolution rather than presenting Maxtherm merely as a company that grew through products.

The deeper story is:

Two engineers identified Sri Lanka’s dependence on imported fossil fuels, built a business around industrial thermal energy, pioneered biomass fuel switching, expanded into energy efficiency and integrated thermal systems, introduced the BOO/Steam-as-a-Service model, and are now moving Maxtherm toward the next generation of sustainable thermal-energy technologies.