The agreement was jointly signed by Mr. Thamarat Paryoonsuk, Senior Executive Vice President of Refinery and Oil Trading Business Group, Bangchak Corporation Public Company Limited, and Mr. Yutaka Takamura, General Manager of Green Chemical, Strategic Business Unit (SBU), Chemical Solution Group, Sumitomo Corporation. Witnessing the agreement were Mr. Takashi Tanaka, General Manager of the Asia & Oceania Chemical Solutions Business Unit at Sumitomo Corporation Asia and Oceania Pte. Ltd., along with Mrs. Ongorn Pleanrungsi, Managing Director of BCP Trading Pte. Ltd., Refinery and Oil Trading Business Group, Bangchak Corporation Plc. This inaugural strategic collaboration between the two companies seeks to establish a resilient and efficient UCO-to-SAF supply chain.
Thamarat stated, "The signing of this agreement marks a significant milestone for the joint efforts of Bangchak Corporation and Sumitomo Corporation to advance decarbonization initiatives. This strategic partnership signifies a collective dedication to achieving net-zero emissions and propelling the development of cleaner energy solutions for the future. Through this collaboration, Bangchak and Sumitomo aim to harness our combined strengths to generate shared value while championing ambitious sustainability objectives."
Bangchak Corporation, a trailblazer of SAF production and distribution in Thailand, unveiled its SAF production plan in September 2022. The SAF production unit at the Bangchak Phra Khanong Refinery in Bangkok is projected to achieve a daily production capacity of approximately 1,000,000 liters. This endeavor echoes Bangchak's commitment to achieving Carbon Neutrality by 2030 and Net Zero Greenhouse Gas Emissions by 2050, aligning with the International Air Transport Association (IATA)'s "Fly Net Zero" strategy. The company's commitment to producing SAF from UCO underscores its dedication to environmental stewardship and its aspiration to lead the energy transition.
Earlier this year, Bangchak Corporation commemorated the laying of the Foundation Stone for Thailand's First SAF Production Plant. Scheduled to commence operations in the first quarter of 2025, this cutting-edge facility is poised to enhance Thailand's standing in the SAF market. The SAF production unit at Bangchak Phra Khanong Refinery will comprise two main units: the Pretreating Unit (PTU) and the Sustainable Aviation Fuel Unit (SAFU), both incorporating cutting-edge technologies from world renowned technology providers.
In 2021, the IATA announced its "Fly Net Zero" commitment outlining airlines' aspirations to attain net zero carbon emissions by 2050. This collective commitment signifies a united approach by the aviation industry to reinforce endeavors aimed at fulfilling the climate objectives set forth in the Paris Agreement. Achieving these ambitious goals requires coordinated actions across various sectors. SAF emerges as a pivotal element in this collective endeavor, with the potential to slash emissions by up to 80% compared to conventional jet fuel.
Source: Bangchak Corporation