BIG, RATCH Group partner up to cash in on demand for clean energy
BIG, a climate-technology innovator and pioneer in driving energy transition in Thailand's industrial sector, has formed a partnership with RATCH Group, a prominent energy and infrastructure company focused on creating value in the Asia-Pacific region.
The collaboration aims to meet future clean-energy demand in the industrial, transportation, and power-generation sectors, with the ultimate goal of achieving carbon neutrality and net-zero greenhouse-gas emissions, as well as fostering a low-carbon society in the future, the companies said.
During the signing ceremony for the memorandum of understanding (MoU) on Monday, BIG (Bangkok Industrial Gas) managing director Piyabut Charuphen said the partnership with RATCH Group demonstrates both companies' commitment to advancing the energy transition through innovation and technology.
RATCH Group chief executive Nitus Voraphonpiput said the signing of the MoU represents a strategic partnership between RATCH Group and BIG in which their strengths will be leveraged to develop green hydrogen using renewable energy and explore related business opportunities.
Also called renewable hydrogen, green hydrogen is obtained by electrolysis of water.
Nitus said the MoU would allow companies to investigate the viability of producing hydrogen from renewable energy sources both in Thailand and internationally.
He said that as a power-generation leader, RATCH Group can use its expertise in developing methods and models for utilising renewable energy to produce green hydrogen. Additionally, the company's domestic and international renewable power plants can contribute to this initiative.
"This is RATCH Group's first step into the hydrogen fuel sector, building on its existing power-generation business and allowing for expansion of its renewable power production base, particularly in Australia," Nitus said.
“Furthermore, the hydrogen fuel business has been seen as having significant long-term value for the company, and green hydrogen as a future fuel is expected to see rapid growth in demand," he said, emphasising that the hydrogen business also serves the company's efforts to decarbonise and achieve carbon neutrality by 2050.
BIG managing director Piyabut said his company is driving hydrogen innovation by leveraging the expertise of BIG and its parent company, Air Products of the United States, which is the world's largest investor in green hydrogen projects.
This includes the Neom project in Saudi Arabia, which produces more than 600 tonnes of green hydrogen per day, as well as investments in low-carbon hydrogen production as part of the United States' seven regional clean hydrogen hubs project.
"BIG is committed to global sustainability through its 'Generating A Cleaner Future' strategy, which involves collaboration across all sectors,” Piyabut said.
“The collaboration entails exploring business opportunities and developing green hydrogen production from renewable energy sources such as hydropower, wind, and solar energy from Laos, as well as wind and solar energy from solar panels in Australia."
The green hydrogen produced will be used as fuel for the energy transition, assisting industries and the country in meeting the NDC (nationally determined contributions) Plan 2030 targets.
Meanwhile, he said the use of green hydrogen helps the industrial sector compete globally by complying with the European Union's Carbon Border Adjustment Mechanism (CBAM).
