Mitr Phol Group showcases agricultural-based renewable energy at SustainAsia Week 2024, presenting Thailand with a pivotal opportunity to establish a sustainable equilibrium across the economy, society, and environment

Mr. Buntoeng Vongkusolkit, Chairman of Mitr Phol Group, emphasized the company's approach to renewable energy development: “Our philosophy of 'Grow Together’ has guided our operations from the beginning, striving for growth alongside all sectors. We see Thailand’s readiness and potential for sustainable energy development due to its advantageous geography and agricultural capabilities. This aligns with Mitr Phol’s vision of the agricultural sector as a crucial driver for stable development, leveraging eco-friendly energy and bio-products to achieve sustainable growth. Thus, we address the growing demand for bio-based products as alternatives to petroleum-based ones, helping to mitigate environmental impacts.”

For over 20 years, Mitr Phol Group has been dedicated to advancing Thai agriculture and renewable energy, operating under the concept of transforming waste into value, 'From Waste to Value Creation’. Initially,
the company focused on generatingbiomass electricity from bagasse, a byproduct from sugar mills. It has continued to develop technologies to utilize other agricultural waste, such as sugarcane leaves, as additional fuel. This approach supports farmers during harvest, enhances their income, boosts biomass fuel security, and reduces environmental issues. To date, Mitr Phol has purchased over 1.7 million tons of sugarcane leaves, providing farmers with more than 2.5 billion baht in additional income.

Mitr Phol Group has also participated in 10 voluntary greenhouse gas reduction projects under Thailand Voluntary Emission Reduction Program (T-VER), accumulating over 900,000 tons of carbon dioxide equivalent annually through carbon credits. The company has been certified as a producer and user of renewable energy through Renewable Energy Certificates (RECs), which support the development and adoption of renewable energy in the country, further reducing industrial greenhouse gas emissions.

In its ethanol business, Mitr Phol utilizes molasses—a byproduct of sugar production—and sugarcane juice to produce various specifications of ethanol. These include ethanol for vehicle gasoline blends, industrial use, pharmaceutical-grade ethanol, as well as BCG-grade ethanol for applications such as sustainable aviation fuel (SAF) and bio-based plastics. This not only reduces petroleum use but also cuts greenhouse gas emissions.

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