Energy Absolute Public Company Limited

Energy Absolute Public Company Limited, or EA, is pushing forward with the commercialisation of Bio-PCM, a bio-based material developed from natural raw materials, particularly palm oil, through Green Technology Research Company Limited, a company within the EA group. Chatchapol Sripratum, Chief Executive Officer of EA, disclosed that EA recently joined with the Program Management Unit for Competitiveness to organise the project "Up the Phase. Upgrade the World: Phase Change Materials to Future World-Changing Innovation," which drew 107 teams, later narrowed to the final 10. The winning entries were "BioTemp 22 (ENP@R17), an innovation controlling temperatures at 20-24°C using Bio-PCM for platelet transport" in the Bio-PCM Frontier Tech category, and "Evi-PCM Block: an innovation locking in temperature to protect environmental evidence" in the Next Gen Visionary category. Currently, EA's Bio-PCM, developed by EA's research team through GTR and granted the first and only patent of its kind in Thailand, is exported to Japan, South Korea, the United States and Europe, totalling about 1,000 tonnes per year, worth more than 100 million baht, with order value continuing to rise.

Energy Absolute, or EA, has announced a target to raise sales of its bio-PCM product to 100 million baht within three years. Chatphol Sriprathum, the company's Chief Executive Officer, said that PCM, or Phase Change Material, which is extracted from palm oil, currently generates only modest sales and revenue, with its main markets being Japan and Korea, and that EA is the first and only Thai operator producing and exporting PCM at present. At the same time, the company is pressing ahead with the development of Green Diesel, or HVO, to meet demand for clean energy in overseas markets, and is preparing to expand investment in renewable energy businesses, including wind power plants and waste-to-energy plants, to offset revenue from the Adder scheme of its existing projects as those gradually expire. In addition, Green Technology Research Company Limited, part of the EA group, together with the Program Management Unit for Competitiveness, announced the winners of the Up the Phase project, narrowing 107 applicant teams from across the country down to 10 finalists. The winning entries were BioTemp 22, an innovation that controls temperatures between 20 and 24 degrees Celsius using Bio-PCM for platelet transport, and Evi-PCM Block, an innovation that locks in temperature to protect environmental evidence.

The government is preparing to invest in a smart grid system, or intelligent power network, with short-term approval expected for a pilot project budget of approximately 10 billion to 20 billion baht, drawn from the 200 billion baht energy transition allocation under the 400 billion baht emergency loan decree. Concrete progress is expected to begin this year. Naphan Chaisaen, Deputy Managing Director of Research and a fundamental investment analyst covering the capital market at Bualuang Securities, told Than Hoon that the medium-term smart grid roadmap for 2022 to 2031 consists of five pillars. The first is Demand Response, which will replace household electricity meters with millions of smart meters, starting in high-usage areas such as Bangkok, its vicinity, major cities, and industrial estates in Rayong and Chachoengsao. Companies with potential in this area are FORTH, SKY, INSET, ALT, and PCC. Next is RE Forecasting, which involves system integrators such as TKC, SECURE, and SAMART. Then comes Microgrid and Prosumer, with GUNKUL and BGRIM. Next is ESS, or energy storage systems, with EA and GPSC. Finally, EV Integration involves FORTH and EA. Investment in the smart grid can also be accelerated without waiting for full clarity on the new Power Development Plan, and it will serve as key infrastructure to support the massive electricity consumption of data centers in the future without affecting electricity costs or the stability of power supply for the general public.

Bualuang Securities released an analysis stating that the development of Thailand's smart grid is nearing a turning point, moving from a phase focused on long-term roadmaps toward rule-setting, pilot project implementation, and greater private-sector participation. The medium-term smart grid drive plan for 2022-2031 comprises 5 pillars: Demand Response and Energy Management Systems, or DR & EMS, which accounts for roughly 30% of the budget; Renewable Energy Forecasting, or RE Forecasting, about 10%; Microgrid and Prosumer, about 20%; Energy Storage Systems, or ESS, about 25%; and EV Integration, about 15%. The analysis states that stocks that could benefit under the DR & EMS pillar include SKY, PIS, FORTH, PCC and ALT, while the RE Forecasting pillar includes TKC and SAMART. The Microgrid & Prosumer pillar includes BGRIM, the ESS pillar includes EA, GPSC, GULF and EGCO, and the EV Integration pillar includes FORTH and EA. Bualuang Securities takes the view that heavy investment in ESS and Microgrid should not be rushed from the early stage, because committing large amounts of capital to batteries, hardware and EPC work before pricing mechanisms and service markets are clear carries the risk of assets being underutilized. Meanwhile, DR/EMS forecasting and EV Integration require less capital and open up opportunities to generate revenue from platforms, service fees and recurring income.

Energy Absolute Public Company Limited, or EA, disclosed that its Bangkok E-Bus Programme has delivered greenhouse gas reductions from its 2025 operations totalling 57,327 ITMOs to the KliK Foundation in Switzerland, bringing cumulative deliveries to 108,960 ITMOs. These ITMOs underwent measurement, verification and certification under the applicable standard before being approved for international transfer under Article 6.2 of the Paris Agreement, in support of Switzerland's climate NDC targets. The programme puts more than 2,000 electric buses into service in Bangkok and its vicinity, replacing diesel and natural gas vehicles, and is regarded as one of the key models for linking clean-energy public transport with international carbon mechanisms. Thailand and Switzerland had previously made history together with the transfer of ITMOs under Article 6.2 from this programme. Chatpol Sriprathum, Chief Executive Officer of Energy Absolute Public Company Limited, said the transition to clean energy can deliver real environmental, social and economic results, and that EA is ready to build on its knowledge, technology and partnerships to expand its Green Energy Ecosystem into other sectors.

EA announced that its Bangkok E-Bus Programme delivered greenhouse gas reductions from its 2025 operations totalling 57,327 ITMOs to the KliK Foundation in Switzerland, bringing cumulative deliveries to 108,960 ITMOs. This reflects the potential of EA's Green Energy Ecosystem to build on its business and carbon management to create value from its existing assets and technology. Meanwhile, UNIX received a certificate of corporate carbon footprint certification, with its data already verified, to serve as a baseline for planning greenhouse gas emission reductions in its packaging business. FVC announced its second-half 2026 strategy, pressing ahead to generate revenue from four core businesses in response to price competition and rising costs, while building up a backlog for continued recognition. It will focus on cost management, maintaining liquidity, and accelerating revenue recognition from work in hand to drive 2026 earnings growth in line with its targets.

Energy Pure or EA is preparing to bid for clean energy power plants under the PDP 2026 plan and is interested in doing Direct PPA with data centers, after banks resumed lending. Meanwhile, the EV manufacturing plant in the NEX group has returned to full production capacity due to orders for 1,520 electric buses from BMTA and the first batch of electric vans in Phuket has been fully booked.

Energy Absolute (EA) has revealed that its electric vehicle business will be a key driver of its Q3 2026 performance. The company will begin mass production of electric buses for the Bangkok Mass Transit Authority (BMTA) this September, with deliveries of 1,520 units expected to be completed by Q2 2027. Meanwhile, in its renewable energy segment, EA plans to commence commercial operation of the Phuket Waste-to-Energy project (8 MW) in 2027, followed by two wind power projects in 2028-2029. The company also intends to test SAF-HVO fuel in Q1 2027. EA remains focused on reducing its debt burden through refinancing and views SMR technology as a future opportunity, though it will continue to monitor related policies.

The Bangkok Mass Transit Authority (BMTA), led by Director Mr. Kittikarn Chomduangcharuwanonkun, along with executives and media, visited the electric bus assembly plant of Absolute Assembly (AAB), part of the Energy Absolute (EA) group, in Chachoengsao Province. The visit aimed to monitor the readiness of the BMTA's project for 1,520 clean-energy electric buses. Nakornchai Air won the bidding for the clean-energy air-conditioned bus rental project, collaborating with EA and Next Point (NEX), a manufacturer and distributor of electric buses. All buses will be produced and assembled in Thailand at the AAB factory, from frame construction, body assembly, painting, system installation, to quality inspection before delivery. Mr. Noppadol Nimpatcharawut, CEO of Nakornchai Air, stated that the company is confident of delivering all buses on schedule. Meanwhile, Mr. Wasu Klomkliang, Chairman of NEX, said that the electric buses are not imported from abroad but manufactured in Thailand using modern technology, creating employment and developing electric vehicle engineering skills. The AAB factory is located on an area of over 55,000 square meters, with an investment value of over 2 billion baht, and has received ISO 9001:2015 certification. It will create employment for more than 800 Thai personnel.

Frontline Engineering Public Company Limited, or FLE, will begin trading its securities for the first time on the Market for Alternative Investment (mai) on September 1. The company operates in the sourcing, distribution, and rental of water pumps, as well as comprehensive water management, under the industrial products group. CEO Mr. Panu Chokapirat stated that the funds raised will be used to purchase machinery and equipment, expand production capacity, repay debt, and serve as working capital. Meanwhile, Origin Property Public Company Limited, or ORI, announced the successful sale of its 3/2569 debentures, both tranches, totaling 800 million baht, offered from August 25-27, which were fully subscribed as expected. Jubilee Enterprise Public Company Limited, or Jubilee, reported a 26.2% increase in net profit for the first half of the year compared to the same period last year. Additionally, Energy Absolute Public Company Limited, or EA, received the Outstanding Industry Award for the year 2568 in the category of Future Industry and Services. North East Rubber Public Company Limited, or NER, received the ESG100 Company certificate for the year 2569 from the Thai Institute of Directors. Thai Coconut Public Company Limited, or COCOCO, posted a first-half profit of 205.16 million baht, up 44.24%, driven by strong growth in coconut milk and pet food products in America and Europe, and is proceeding with investment through its subsidiary NOVOCOCONUT INC. in the Philippines.

Nex Point Public Company Limited, or NEX, together with Absolute Assembly Company Limited, or AAB, a subsidiary of Energy Absolute Public Company Limited, or EA, opened its doors to welcome a delegation from the Bangkok Mass Transit Authority, or BMTA, to visit the AAB factory in Ban Pho District, Chachoengsao Province. The visit was to present information on production and assembly capacity for electric buses, quality control, and after-sales parts and maintenance services. The visit is related to the project to lease 1,520 clean-energy air-conditioned public buses. NEX and AAB play a supporting role in procuring all 1,520 electric buses to be delivered to Nakhonchai Air Company Limited, which is the direct contracting party with the BMTA, so that the BMTA can put them into public service under the project. The electric buses for this project will be manufactured and assembled in Thailand under production and assembly processes controlled by quality management systems that meet internationally recognized standards. AAB was established in 2020 and began commercial production in 2021. For the production of electric buses in this project, it is expected to employ more than 800 people, most of whom are Thai personnel. The factory is located on an area of more than 55,000 square meters, with a total investment value of more than 2 billion baht, and has a maximum production capacity of approximately 3,000 to 9,000 vehicles per year, depending on the type and complexity of the vehicles produced. AAB is regarded as the first and only fully integrated commercial electric vehicle manufacturer in Thailand, with the capacity to support the production and assembly of various types of vehicles, including city buses, coaches, minibuses, vans, pickup trucks, trucks, tractor units, and electric vehicles for specialized applications. The AAB factory has received ISO 9001:2015 quality management system certification for the production of commercial electric vehicles and uses modern production technologies in its processes, such as high-precision plasma laser cutting systems, jig fixture systems for structure forming and assembly, EDP anti-corrosion coating systems, and robotic paint spraying systems. Mr. Vasu Klomkliang, Chairman of NEX, said that the BMTA delegation's visit is an important opportunity to present the potential of a Thai factory with continuous experience in manufacturing and assembling commercial electric vehicles, along with personnel, engineering processes, production technology, and quality control systems capable of supporting large-scale public bus projects. The key point is not only the factory itself, but also the engineering knowledge and experience accumulated by Thai personnel. Having domestic production capacity, quality inspection, and vehicle care will help extend knowledge and technology, preserve skilled employment, and strengthen Thailand's supply chain. It is a source of pride for AAB and NEX employees, as well as for Thai people, that the country has the capacity to support large-scale commercial electric vehicle projects. NEX also plays a role in parts procurement, technical support, and maintenance through Nex Autopro Company Limited, or NEX Autopro, which provides comprehensive electric bus maintenance services and parts distribution, covering buses from small to large sizes, with a parts warehouse, expert technician teams, and scheduled maintenance systems to help reduce vehicle downtime. Currently, NEX has commercial vehicle products covering both passenger and freight transport segments, such as passenger vans, minibuses, city buses, coaches, pickup trucks, large multi-purpose vehicles or MPVs, cargo vans, trucks, and tractor units, as well as vehicles for specialized work such as dump trucks, concrete mixer trucks, garbage trucks, street sweepers, and water spray trucks, to serve government agencies, transport operators, logistics businesses, and the industrial sector. This overall picture reflects NEX's approach to operating a fully integrated commercial vehicle business, from product selection and development, production and assembly through the AAB factory, distribution, to after-sales service through NEX Autopro.

Energy Absolute Public Company Limited, or EA, reported first-half results for 2026, swinging to a net profit attributable to the parent of 105.81 million baht, compared with a loss of 469.12 million baht in the same period last year. Total revenue was 5.87 billion baht and net cash from operating activities was 3.69 billion baht. Revenue remained under pressure from the expiry of the adder tariff for the Phitsanulok solar power plant and the shift in the biodiesel business model from producing and selling on its own to contract manufacturing. The group's total liabilities fell from 69.71 billion baht as of 30 June 2024 to 54.83 billion baht as of 30 June 2026, a reduction of 14.88 billion baht, or 21.4 percent, over two years. The electric bus and commercial vehicle business posted first-half revenue of 699.25 million baht, up 129.2 percent from the same period last year, with total vehicle sales of 116 units, compared with 36 units a year earlier. Chief Financial Officer Vasu Klomkliang said the company remains focused on managing its core renewable energy business, alongside developing new wind power projects totalling 180 megawatts, the waste management and waste-to-energy business, and expanding the electric vehicle and energy storage businesses under a cautious investment and liquidity management framework.

Energy Absolute Public Company Limited, or EA, has approved three subsidiaries to receive guarantee support from Double P Land Company Limited to back total credit facilities of 9.77764 billion baht for the Bangkok Mass Transit Authority electric bus project, also known as BMTA. The facilities for NEX and AAB related to the electric bus project total 9.59764 billion baht, comprising 8.545 billion baht for AAB, 1.05264 billion baht for NEX, and 180 million baht for ERH. The credit facilities for NEX and AAB are specifically intended to support working capital for the production and operation of 1,520 electric buses under the project, for which the EA-NEX group has been appointed as manufacturer and assembler. The guarantee arrangements and related contracts are expected to be completed by August 2026.

Amata Technology Thailand Company Limited, or AMITA, a subsidiary of Energy Absolute Public Company Limited, or EA, has joined with the Department of Primary Industries and Mines under the Ministry of Industry to sign a memorandum of understanding aimed at advancing recycling technology for end-of-life lithium-ion batteries toward industrial-scale application. This collaboration will combine the department's expertise in battery sorting and recycling with AMITA's experience in battery development and production. End-of-life batteries and production process materials will be studied and developed to obtain precursors that can be trialed in manufacturing new batteries. The partnership will also jointly assess technology feasibility, develop personnel, and formulate policy recommendations to support a comprehensive national battery recycling system. Mr. Chatraphol Sripratum, Chief Executive Officer of EA, stated that the goal is to transform waste into valuable resources, building knowledge and raw material security for Thailand. As the electric vehicle and energy storage industries grow, the volume of end-of-life batteries will increase accordingly. Recycling thus helps reduce waste, minimize resource loss, and lower dependence on imported raw materials. This cooperation is part of EA's vision to develop a fully integrated clean energy ecosystem, spanning renewable energy, batteries, electric vehicles, greenhouse gas reduction, and lifecycle resource management.

The policy injecting 200 billion baht under the emergency loan decree to drive clean energy and electric transport systems is positively impacting nine Thai stocks in the solar rooftop and electric vehicle ecosystem sectors. The solar rooftop group that will benefit fully includes GUNKUL from its integrated business covering equipment sales and installation contracting, SOLAR as a panel manufacturer and installation service provider, retail building materials and IT groups such as HMPRO, DOHOME, GLOBAL, and COM7 as distribution channels for ready-made household solar kits, and KTC from low-interest loan measures and installment payments for solar rooftop installation that stimulate card spending. In the electric vehicle ecosystem group, NEX benefits the most in the electric bus and truck segment, EA will ease liquidity concerns and unlock assets from its battery manufacturing and EV assembly plants, while GPSC and GULF benefit from investments in nationwide charging station infrastructure. Analysts recommend a strategy of accumulating on dips or speculating on policy momentum, while cautioning that EV and solar cell stocks often react quickly to policy news. Investors should scale in and avoid chasing prices during sharp short-term rallies.