SET-listed Banpu, a non-oil energy conglomerate, continues to expand its energy technology business empire by investing in an information technology startup and a venture capital fund.
Subsidiary Banpu Next Co acquired a 25% share in Altotech Global Co, a developer of Internet of Things platforms, to support its energy management technology in office buildings and hotels as well as clean energy solutions.
Banpu Next also invested in Smart City Fund II, a venture capital fund managed by France-based Eurazeo.
The fund focuses on digital innovations for energy and industrial technology.
The investments will support Banpu's growth in smart building and city business projects, which promote wise use of energy to reduce carbon dioxide emissions, said Somruedee Chaimongkol, chief executive of Banpu.
Banpu plans to expand its rooftop solar panel business by increasing electricity generation capacity to 500 megawatts, up from 139MW at present, by 2025.
The company also wants to increase the capacity of its energy storage systems from 1 to 3.75 gigawatt-hours by 2025, she said.
In the electric mobility business, Banpu plans to expand its ride-sharing service by increasing the number of electric vehicles (EVs) to 430,000 by 2025, up from 5,500.
In three years, the number of its EV chargers is set to increase from 117 to 2,000, while sales of battery-run ferries are projected to tally 100 units, up from 1 unit at present, said Mrs Somruedee.
The company plans to increase the number of its smart city development projects to 30, up from 21, by 2025.
"We continue to expand our energy technology and clean energy portfolios to achieve our goal of 'Smarter Energy for the Future'," she said.
Banpu is cooperating with many local and foreign firms to strengthen its clean energy businesses.
In 2020, Banpu and local startup Urban Mobility Technology launched the Haup Car mobile application for EV ride-sharing to facilitate transport.
Banpu also launched the MovMi app for electric tuk-tuks. The three-wheel vehicles primarily serve as feeders taking commuters to and from minor roads to electric trains in Bangkok.
In the third quarter this year, Banpu posted revenue totalling 87.2 billion baht, a year-on-year increase of 106%, while its net profit was 17.7 billion, up 360% for the period.