SET-listed Scan Inter (SCN), a compressed natural gas seller and clean power operator, is planning to develop hydrogen fuel to benefit from growing demand for clean energy.
In addition, a subsidiary plans to start offering a service to install electric vehicle (EV) chargers this year, said chief executive Littee Kitpipit.
Mr Littee said a UK-based market research company is conducting a feasibility study on the hydrogen project, with the study scheduled to be completed in May.
SCN expects to produce blue hydrogen produced from natural gas supplied by oil and gas conglomerate PTT Plc, he said.
Mr Littee said there is an opportunity to operate a hydrogen fuel business because the fuel can serve both motorists and factories.
EVs are popular, but he said he believes hydrogen could be an alternative fuel in 10-15 years when the prices of hydrogen fuel technology become more affordable.
If the study shows a hydrogen fuel business is commercially viable, SCN plans to build a factory to produce compressed hydrogen fuel in Pathum Thani at a cost of 300 million baht, said Mr Littee.
The funds would come from the company's capital spending budget of 500 million baht, with a portion of the budget funding the EV charger installation business, he said.
SCN plans to install EV chargers in 24 areas within housing projects.
Customers prefer to have EV chargers installed at their homes because it takes time to charge their cars, said Mr Littee.
Using charging facilities at petrol stations mean drivers have to wait in a queue and the service is costly.
The EV charger business is going to be operated by Scan Advance Power (SAP), a subsidiary of SCN, he said.
SAP plans to list on the Market for Alternative Investment this year, aiming to raise more than 300 million baht.
SAP also operates a rooftop solar power business, with electricity generation capacity of 23 megawatts through private power purchase agreements.
According to Mr Littee, SCN expects its revenue to grow by 20% this year, up from 1.87 billion baht in 2023, thanks to new gas delivery contracts with PTT.