GPSC recognizes the importance of supporting research and technology since these are critical factors for knowledge-based development to drive competitiveness and business growth that aligns with corporate vision and mission. The company, therefore, sets and adheres to the following policy and management approaches on innovation which serves as a framework for efficient and optimal innovation management.
Technology Research and Development Policy
GPSC sets a technology research and development policy in collaboration with the PTT Group on the following areas:
- Appropriate budgeting
- Implementing GPSC’s technology research and development plans as well as reviewing action plans annually
- Setting high-standard methodologies and screening processes for technology research and development which include intellectual property management
- Supporting and promoting efficient and optimal management of PTT Group’s technology research and development fund
- Supporting and promoting research projects as well as sharing knowledge and research personnel with PTT Group
Research and Innovation Management Approach
Based on GPSC’s business direction and key strategies, consisting of core business strategy, investment partner management strategy, and new project development strategy, the company has set a strategy for managing and supporting research and innovation that aligns with the new project development strategy. The research and innovation strategy focuses on creating investment opportunities in the power business both at the domestic and international level as well as developing related businesses to promote sustainable growth in the future.
Setting Return Targets for Research and Innovation Investment and Continuous Monitoring of Investment Budgets
To ensure concrete implementation on innovation, GPSC has collected data on investment budgets for research and development every year. Based on the investment budget data, GPSC can set an appropriate target for increasing investment in innovation on an ongoing basis.
Collaboration in Innovation Research and Development that Aligns with GPSC’s Business
GPSC recognizes the importance of collaboration among various organizations to promote the commercialization of innovation. In the past, the company had collaborated with public institutions, such as the National Metal and Materials Technology Centre (MTEC) and the National Science and Technology Development Agency (NSTDA), as well as private companies, such as 24M Technologies, Inc. Moreover, the company has also formed an alliance with a leading company from Japan that operates power and industrial plants, namely Marubeni Corporation, with the aim of jointly developing Internet of Things (IoT) technology to enhance power production efficiency to better address customer needs.