16 June 2023
Bangchak, AIT and US-Based C-Quester Join Forces to Develop Carbon Capture Technology and Expand Business Opportunities
Kanthamat Kritayanukul, Executive Vice President, Refinery and Logistics Business, Bangchak Corporation Public Company Limited, Professor Kazuo Yamamoto, President of Asian Institute of Technology (AIT), and Dr. Clément Cid, Chief Executive Officer, US-based C-Quester Incorporated joined the Memorandum of Understanding (MOU) signing ceremony between Bangchak Corporation, AIT and C-Quester to exchange of knowledge and expertise in carbon capture technologies and the pursuit of decarbonization business opportunities. Gloyta Nathalang, Executive Vice President, Corporate Branding, Communication and Sustainability Activation, Bangchak Corporation, Dr. Ekbordin Winijkul, Head, Department of Energy, Environment and Climate Change, AIT, and Dr. Alan Gu, Chief Technology Officer, C-Quester Inc. signed as witnesses. The ceremony was also joined by Rawee Boonsinsukh, Executive Vice President, Innovation and New S-Curve Business Development, Bangchak Corporation, and Shawn P. Kelly, Executive Director, AIT.
Kanthamat stated that as a leader in energy transition, Bangchak Group has set targets to achieve Carbon Neutrality by 2030 and Net Zero GHG Emissions by 2050. These targets will be attainable through our adoption of the BCP 316 NET plan which emphasizes tangible and long-term results by adopting sustainable technology, increasing the proportion of green businesses, and expanding new investments that would help reduce greenhouse gas emissions from business operations. At the same time, carbon sequestration, both by technology and by nature will also play an important role in the realization of Bangchak’s carbon targets, as it transitions to a low-carbon business.
While transitioning to a new ecosystem, we still need to use fossil fuels. Carbon Capture technology is critical to capturing carbon dioxide that would otherwise be released into the atmosphere, thereby mitigating the effects of climate change. Meanwhile, the captured carbon can be processed and produced into other products. This is a technology solution for decarbonization, which will facilitate the transition to a low-carbon business.
“The collaborative efforts between Bangchak, AIT and C-Quester will enable comprehensive exploration and study of carbon capture technologies, while also capitalizing on potential business prospects for all involved parties. This will significantly contribute to Bangchak’s capacity to mitigate carbon dioxide emissions and effectively accomplish our objectives in combatting climate change” Kanthamat concluded.