Thailand: Bangchak to track sun's rays, highlight R&D

Thailand: Bangchak to track sun's rays, highlight R&D

SET-listed Bangchak Corp Plc (BCP), a mostly state-owned energy firm, has
budgeted 350 million baht a year to invest in R&D as it seeks to become an
innovation leader.

The budget is to be used directly on Bangchak's own research, as well as
investment via share acquisitions in startups and other innovative firms,
said president and chief executive Chaiwat Kovavisarach.

He said innovation would be focused on the company's eco-business and
innovative solutions to make its renewable power arm more efficient.

The company launched its Bangchak Initiative and Innovation Center (BIIC) at
it Bangkok headquarters yesterday. It also recently teamed up with the
National Research Council of Thailand to research equipment for a new kind
of solar panel that can track the sun's rays during daylight hours for more
efficient power generation.

The BIIC was set up as another R&D project to foster innovation after a
previous scheme to produce biofuel from algae in 2012 became untenable in
the face of collapsing global oil prices.

As part of its efforts to fund startups is a partnership deal with Plug and
Play, a startup accelerator that plans to launch an innovation platform in
California's Silicon Valley.

"We want businesses that consume less energy, produce less waste and use
biodegradable materials which can be recycled," Mr Chaiwat said.

Bangchak is also designing a Green Energy Community Management System that
will be applied to its petrol stations under a pilot project aimed at smart
energy consumption.

The budget is expected to be finalised next month, with existing petrol
stations on Srinakarin Road the first in line.

The upgraded stations will feature roof-based solar panels and wind-power
trees, storing energy inside each station, the company said.

BCP shares closed unchanged yesterday on the Stock Exchange of Thailand at
38.50 baht in trade worth 372.6 million baht.

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Link to Original Article:
http://www.bangkokpost.com/business/news/1320363/bangchak-to-track-suns-rays
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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com