Mr. Somphote Ahunai, Chief Executive Officer of Energy Absolute Public Company Limited (EA), member of SET50 listed company on the Stock Exchange of Thailand. After obtaining an MBA from the University of Pittsburg, he began his career in the USA Financial Market. When he was 28 years old, Mr. Somphote was assigned to lead a project to acquire Yuanta Securities, a small security broker in Thailand. As the youngest Managing Director, he developed the systems in place, along with his strategy, he helped move Yuanta Securities into a leading position within 3 years.

Shifting his focus to the energy sector by his extensive experience and long vision, in 2006 Mr. Somphote acquired a biodiesel plant then modernized by using new technology and renamed company to be “Energy Absolute Public Company Limited”. To invest in biodiesel business produced from palm oil with the total investment at THB 800 million by upgraded a smallscale palm cooking oil plant to be a strong producer of biodiesel and glycerin with high quality and give higher returns. He drove the total revenue from US$ 66 million in reach US$ 359 million in 2017.

Furthermore, EA’s biodiesel business has continued to improve for higher value, using in-house technology, knowledge and experience of employees which has enabled EA to own advance technology in producing Bio Hydrogenated Diesel (or Green Diesel) and Phase Change Material (or PCM). This leads EA to be the world pioneer of producing premium product with high economic value from palm oil which is currently over supply in the country.

The success of initial business venture in producing biodiesel from palm oil leads EA to be top three largest biodiesel producer, then he started to look for business opportunities that would increase its return, diversify risk, and create more security for the company in the long run while remaining within the framework of environmentally-friendly alternative energy. He began to develop into a producer of electricity, starting with renewable power business including solar energy and extending to wind energy.

Thanks to the Thai government’s policy to promote power production from renewable energy by setting a target of reaching 6,000MW of solar power and 3,002 MW of wind power by 2036, while staying alert to other opportunities offered by the weather and environment of many countries. Eventually in 2012- 2016, EA has successfully completed developing four solar power plants including Lopburi, Nakornsawan, Lampang and Phisanulok provinces with total production capacity of 278 MW. EA is the first company who invested in ASEAN largest solar power plant (134 MW installed capacity) with sun tracking system, which increase power output for more than 17% each year compare to traditional fixed PV panel. Moreover, since 2014, EA started construction of wind farms with an ultimate combined production capacity of 386 MW. EA is also an increasingly important contributor to this third source of alternative energy as well.

Advance of Battery technology development for utilities and also the disruption of Electric Vehicle to automotive industry resulted to the new chapter of challenge to Somphote. Strong demand of electricity in some remote area of Thailand and neighbor countries open opportunities for renewable power plant paired with battery system to serve stably as main power source instead of fossil fuel power plant.

Furthermore, with some help from government incentives it expects EV sales in Thailand to grow from a 2018 figure of 9,000 to 406,000 in 2028 and 1.2 million in 2036. This policy is well accepted globally. Therefore, the company anticipates huge demand in power business and EV business and started its first investment in Li-ion battery business by acquiring Amita Technology Inc., a leader in high technology Li-ion battery in Taiwan. Eventually, EA announced its investment plan in an enormous ‘gigafactory’ in Thailand with the total production capacity of 50 gigawatt per hour (GWh) worth US$ 3 billion.