PTT has announced its commitment to building a low-carbon society, revising its investment goals and plans from now until 2030, focusing on future energy investments. The company aims to expand into new businesses with growth potential to meet people's needs and drive the organization towards sustainability. PTT ExpresSo is highlighted as a unit that fosters innovation to create new businesses and participates in the "Decarbonize Thailand Startup Sandbox" project, supporting startups in rapidly finding solutions to reduce carbon emissions and transform Thailand's energy innovations towards Net-Zero.

Mr. Nichanan Piromsawasdi, Venture Capitalist and Head of Partnerships at PTT ExpresSo, a business unit focused on developing technology to assist people and society under PTT Public Company Limited, stated that as a leader in Thailand's energy sector, PTT recognizes the challenges posed by global climate change. Therefore, the company has revised its goals and investment portfolio from now until 2030, aiming to create a

low-carbon society by accelerating investments in future energy sectors, such as renewable energy businesses and investments to prepare for electric vehicle businesses. Additionally, PTT plans to invest in new businesses with growth potential aligned with global trends, such as advancing petrochemical businesses into high-value products using advanced technology and expanding retail sectors in oil and retail to meet the changing lifestyles of consumers. The company also aims to invest in life sciences and future food businesses, targeting to generate profits from future energy and new businesses exceeding 30% by 2030, all directed towards creating sustainable businesses with a goal of reducing greenhouse gas emissions by 15% by 2030 compared to 2020 levels and achieving net-zero greenhouse gas emissions by 2050.

"From now on, PTT will drive forward with future energy and new businesses beyond traditional energy, with our vision being Decarbonization, which we believe is a significant future. The strategies to achieve this involve two key aspects: first, technology. While some progress has been made, many technical and cost-related challenges remain. Therefore, new technologies will help achieve widespread and sustainable carbon reduction. Second, collaboration with partners is essential. If Decarbonization efforts are pursued in isolation without connecting within the value chain, success may be elusive. However, sharing expertise and resources among organizations will expedite progress. Importantly, effective collaboration will benefit businesses and the nation. If Thailand can establish a new value chain that is efficient and swift, it will create opportunities to export technology and new businesses to other countries, positioning us as a regional leader and driving national growth while also benefiting the global environment, creating value for organizations and all stakeholders involved,"

PTT has established the PTT ExpresSo unit to seek energy innovations in collaboration with startups, aiming to leverage both domestic and international technologies to create new businesses, particularly in Decarbonization, which requires broader impact. By creating an ecosystem for Decarbonize startups, PTT encourages growth from both its teams and collaborations with external startups, thus expressing interest in participating in the "Decarbonize Thailand Startup Sandbox" (DTS) to support startups in finding carbon reduction solutions and propel Thailand towards its net-zero greenhouse gas emissions goal, which is believed to be a beneficial approach for achieving sustainable success for PTT and Thailand's energy industry.

"Reducing carbon emissions requires substantial investment, making it challenging to achieve short-term profits. Therefore, to achieve significant and sustainable carbon reduction, business mechanisms should drive the process, supported by effective and cost-efficient technologies. The company is keen to participate in the DTS project, supporting startups that can develop essential technologies for sustainable carbon reduction. PTT is ready to exchange knowledge and long-accumulated experience to accelerate the realization of Decarbonize Thailand, as the future growth of the energy business is directed towards creating low-carbon energy and represents a promising industry for Thailand. However, the key to achieving success lies in the collaboration of all sectors, including government, private sector, and the public, working together towards a common goal," Mr. Nichanan concluded.