GPSC has signed a Memorandum of Understanding (MoU) with MTEC and 24M to conduct a research to develop a high-quality lithium ion battery in Thailand in order to help build up the country’s energy security as well as to be part of the rising trend of renewable energy development.

Dr. Toemchai Bunnag, Chief Executive Officer of Global Power Synergy Public Company Limited (GPSC), an electricity and utility producer flagship of PTT Group said today (November 18, 2016) GPSC has signed a Memorandum of Understanding (MoU) with the National Science and Technology Development Agency (NSTDA) by the National Metal and Material and Technology Centre (MTEC) and 24M Technologies, Inc. (24M) to jointly develop a new technology to produce high-quality lithium ion battery to store energy, which would play a major role in supporting the company’s electricity and utility business.

“This cooperation is created by the trio partners that have strong potential to do a research to develop new technology of lithium lion batter in the long term to meet rising energy storing trend that would help strengthen sustainability of the country’s transmission line and renewable energy generating system.” said Dr. Toemchai.

Since GPSC is an electricity and utility producer flagship of PTT Group, which has strong potential to expand its business in the future both in Thailand and overseas market. Besides the National Science and Technology Development Agency (NSTDA) by the National Metal and Material and Technology Centre (MTEC) is an organization that has strong knowledge about material development and research, while the 24M Technologies, Inc. is the owner of high quality lithium ion technology in the United States (US). So, this cooperation combines the strengths of the three partners to develop lithium ion to match rising demand in Asia and the world market.

This cooperation is a promising investment of GPSC since the trend of rising commercial energy demand in the business has continued to grow, especially demand on the renewable energy plants. The trend will increase the role of high-quality battery to help store the energy in several countries since it is recognized as a major tool to help secure the energy for 24 hours.

Apart from research and development, the cooperation would also create knowledge about lithium ion battery in Thailand as well as to increase the country’s competitiveness of Thailand to meet its goal in securing energy securities in the long term.

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