First Refinery in Thailand to Pioneer “Carbon Capture” Bangchak Partners with BIG to Build on Carbon Utilization Collaboration with AIT and Mitico Turning CO₂ from Waste into Resources

On October 7, 2025, Bangchak Corporation Public Company Limited held a signing ceremony for a Memorandum of Understanding (MoU) with BIG to study the feasibility of utilizing carbon dioxide (CO₂ Utilization). The collaboration aims to explore ways to convert captured CO₂ into valuable resources, marking the continuation of Bangchak’s partnership with the Asian Institute of Technology (AIT) and Mitico from the United States. The initiative represents Thailand’s first refinery-level pilot project to study the utilization of carbon dioxide capture (Carbon Capture) technology, starting at the Bangchak Phra Khanong Refinery, in an effort to create tangible value from carbon emissions.

The MoU was signed by Ms. Kittima Wongsan, Executive Vice President, Bangchak Corporation, and Ms. Orasa Jiralarp, Chief Financial Officer, BIG. The signing ceremony was presided over by Mrs. Gloyta Nathalang, Senior Executive Vice President, Sustainability Management and Corporation Communications, Bangchak Corporation, and witnessed by Dr. Ekbodin Vinitchakul, Associate Professor and Head of the WREE Department / Faculty Representative, Asian Institute of Technology (AIT), Mr. Pongsak Leungjindarat, Chief Strategy and Sustainability Officer, BIG, and Dr. Anekpracha Kaewmanee, Director, Refinery Strategy and Business Development Division, Bangchak Corporation. The ceremony took place at Bangchak Head Office, M Tower.

This collaboration marks another important step toward a low-carbon society through the study of CO₂ utilization captured from refinery operations. The study begins with the potential application within the Bangchak Phra Khanong Refinery and extends to evaluating commercial feasibility in areas such as synthesizing new products, transforming CO₂ into industrial feedstock, or producing clean fuels, thereby adding business value while reducing environmental impact. The initiative supports greenhouse gas reduction in line with Bangchak Group’s BCP 316 NET plan, targeting Net Zero emissions by 2050.

The project also builds upon the earlier collaboration between Bangchak, AIT, and Mitico International Sarl (formerly known as C-Quester) from the United States, which began in 2023. The partners have jointly developed a Carbon Capture Technology Pilot Unit at the Bangchak Phra Khanong Refinery using Mitico’s technology to test carbon capture from refinery processes. The current partnership with BIG, a leader in industrial gas innovation and carbon reduction technologies in Thailand and one of the eleven founding members of the Carbon Markets Club established in 2021, reflects Bangchak’s commitment to advancing sustainable business innovation in harmony with the environment and society. It also reinforces the company’s contribution toward achieving Thailand’s accelerated Net Zero target by 2050, moving forward from the previous goal of 2065 as announced by the government.