Asia Biomass banking on shift to greener strategy

Asia's Tech News Daily

Growing concern over greenhouse gas emissions and a business diversification plan are expected to benefit Asia Biomass Plc (ABM), Thailand's largest biomass fuel trader and producer, as its revenue is projected to double to 5 billion baht within five years.

Revenue is expected to grow by 28% to 2.5 billion baht this year, up from 1.94 billion in 2020.

Tiyada Kuansataporn, managing director of ABM, said the bright business prospects are based on prices and supply of coal used in the power generation and industrial sectors.

She said operators are concerned about a decline in coal over the next several years and are shifting to biomass fuel, in line with global efforts to reduce greenhouse gas emissions.

Coal prices are increasing as demand in Southeast Asia remains high, but new mining is declining globally as financial institutions are not granting loans for new development, said Pongtham Danwungderm, deputy managing director of ABM.

Ms Tiyada said the company, which specialises in supplying biomass fuel, is diversifying into tapioca and crude palm oil in order to earn more revenue.

This will not require huge capital spending for a new business infrastructure, she said.

Mr Pongtham said the company allocated capital spending worth almost 20 million baht for many projects, including maintenance of biomass production facilities and increased production efficiency at its facilities in Rayong and Samut Sakhon.

He said ABM also started a new business to supply the first shipment of tapioca last month.

The company expects its new business will generate 500 million baht in revenue next year.

From January to September this year, revenue rose by 31% to 1.44 billion baht, up from 1.1 billion in the same period last year.

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