BE8, Bluebik establish joint venture to pivot to green tech
published : 7 Feb 2023 at 08:18
newspaper section: Business
Beryl 8 Plus and Bluebik, two leading digital transformation consulting firms, have established a joint venture to pivot to green tech domestically and overseas.
The companies see a massive opportunity in the burgeoning local green tech market valued at around 1 billion baht.
The joint venture is aimed at combining the competitive advantages and strengths of each company to create sustainable growth and compete globally.
Apisek Tewinpagti, chief executive of Beryl 8 Plus Plc (BE8), said his company holds a 50% share of the registered capital, as does Bluebik.
The joint venture is to offer services in green tech including strategy, consultation, development and implementation of net zero technology and carbon accounting for green businesses, he said.
As the private sector has increasingly become more aware and concerned with regard to net zero and carbon emission management, Mr Apisek said BE8 foresees a huge business opportunity to provide services and consultation in green tech, especially net zero and carbon footprint reduction.
"The market size of green IT services in Thailand last year is estimated to have reached 960 million baht, and it is expected to reach 1.4 billion in two years with an annual growth rate of 12%," he said.
Major customers would be leading enterprises and organisations that aim to help the country achieve its net zero goal in 2050.
"This joint venture is just the beginning of our collaboration and we foresee many other opportunities in the future where we could potentially work together to help all businesses be ahead of the disruption with technology," said Mr Apisek.
Pochara Arayakarnkul, chief executive of Bluebik Group Plc, said the joint venture is aimed at expanding the potential and capabilities of both firms to compete with global tech companies.
The trend of environmentally sustainable growth or ESG has become a critical mission for leading global organisations to transform into green organisations to create sustainable growth.
"We see massive opportunity for this business in Thailand as the country is still in the very early stage of transformation in terms of reducing organisations' carbon footprints," Mr Pochara said.
He said economic uncertainty and environmental issues are pressing businesses to grow more sustainably by embracing the environment, social and governance (ESG) principles.
With regard to this global mega-trend, Bluebik and Beryl 8 Plus see an opportunity to be part of the driving force to help businesses achieve their mission to abide by ESG principles.
"We strongly believe that transforming into becoming green organisations with technology and innovation will be a critical part in helping create a better society and country," said Mr Pochara.