The acquisition of additional shares is estimated worth THB 400 million with the aim of holding 33.33% which is to support the 5-year business plan for the non-oil portfolio expansion in renewable energy with a sustainable growth.

PTG Energy PCL (PTG) signed an investment agreement with Thai Paiboon Equipment Co., Ltd. (TPB) by purchasing additional ordinary shares in a proportion of no less than 10% of total issued shares after the capital increase. The investment value did not exceed 103,000,000 Baht. In this regard, PTG is entitled to acquire additional ordinary shares of TPB with the aim of holding no more than 33.33% of the total issued shares post-capital increase. The total investment value throughout the project is estimated to be 400,000,000 Baht, which is subjected to TPB's performance. The acquisition of shares in TPB is aimed at expanding the waste management system business, specifically in the production of Refuse Derived Fuel (RDF) for electricity generation. This supports the 5-year strategic expansion into the non-oil business in renewable energy with the sustainable growth and achieves the goal, which is to support and encourage awareness of society and environmental responsibilities.

Mr. Pitak Ratchakitprakarn, President and Chief Executive Officer of PTG Energy PCL (PTG) revealed that the company signed an investment agreement with TPB to invest in Refuse Derived Fuel (RDF) for supporting the company’s 5-year business plan that aims to expand the non-oil business for the future growth. Renewable energy is 1 of 8 main businesses that PTG aims to do an investment. It plays the important role to support the company’s growth and to expand the existing businesses that PTG has invested in the waste management business since 2022, which are a local waste management project in Ban Phru Tambon, Hat Yai, Songkhla and a 4.5-megawatt waste-to-energy project for the Provincial Electricity Authority

“The company considers it is the good opportunity to do the investment with TPB, that is the leading company of waste management and RDF production, which can replace fuels that can lead to global warming. TPB has the top market shares in RDF manufacturing and distribution business by having the experienced and specialized executive teams as well as maintaining good relationship with public sector and private customers. It is consistent with the company’s vision in which we want to see the community and people in the society having a good life and being happy through the waste management resulting in hygienic community and environment. Also, it creates the opportunities of business expansions for future growths into other businesses such as recycle waste management business and credit carbon business.” Mr. Pitak said.

Paiboon Kumkham, Managing Director of Thai Paiboon Equipment Co., Ltd. (TPB) said that the company is pleasure to work with PTG, a leading company in power business, as a business partner to support the waste management. Most importantly, we have the same vision which is to support and create the awareness of responsibility for society and environment and have the waste management as per circular economy. We believe that the cooperation of 2 companies can be the business model supporting and creating the corporation of waste separation with efficiency resulting in increasing the value of the products and creating long-term good impact for society, environment and world.

In addition, Thai Paiboon Equipment Co., Ltd. (TPB) is one of the leading companies in waste management, landfill waste and RDF production. TPB provides the services starting from design, installation of waste separation system, waste management and RDF production and distribution as well as the distributor of machineries using for waste management that has the experiences of more than 21 years.

Besides, the business can continuously grow because the business is consistent with the world’s trends in term of green energy, environment conservation and reuse. The business, therefore, gets the supports from public sectors and has the demands from both public and private sectors. In addition, the number of wastes that is not managed tends to be increased due to the increasing number of citizens in the country, foreigners, and economic activities

For the company’s performance, it has the revenue of over THB 800 million per year and the net profit of over THB 100 million, which is mainly from the revenue from RDF distribution and waste management.