PTT investing THB550 million in green innovation
Oil giant PTT Plc is investing 550 million baht for innovation in green technology and related areas.
Yuttana Suwanchote, executive vice president of PTT Plc's Institute of Corporate Innovation, revealed that the institute had allocated a budget of 450 million baht, with an additional related budget of around 100 million baht for next year.
The allocation aims to advance the operations of the institute under three main missions.
Innovation for new growth involves:
— Investing in the production of silicon carbide (wafer fabrication) upstream chips in at least one project within the smart electronics category.
— Studying the feasibility of producing green hydrogen in Thailand, including making investment decisions in related projects.
— Establishing a battery testing lab to generate income from technical consulting, analysis, and testing of EV battery laboratory practices.
— Developing products in the advanced wound care category, certified ISO 13485 and registered with the Food and Drugs Administration, with at least three products ready for commercial distribution.
— Establishing a biotechnology technical service centre to provide services in life science analysis and testing, as well as AI solutions with high accuracy for AI-related businesses in power technology, health technology, and mobility technology.
The second mission — Innovation for clean growth — includes conducting environmental impact assessment for carbon capture and storage technology for PTT Group's net zero goal, and planting one million acres of forest.
It would also involve the study and evaluation of the technological possibilities of carbon capture and utilisation to develop potentially business-oriented products such as sodium bicarbonate (baking soda) and methanol.
The third mission — Innovation for business growth — includes establishing technical centres, such as EV and battery test, automotive test, biotechnology, and energy application labs.
