GC and TOYO Singed MOU Regarding Energy Efficiency and Cut Emissions

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GC and TOYO Join Forces to Boost Energy Efficiency and Cut Emissions, Advancing Toward a Low-Carbon Future 

In a significant step toward sustainability, Toyo Engineering Corporation (TOYO), led by President and CEO Eiji Hosoi, has signed a Memorandum of Understanding (MOU) with PTT Global Chemical Public Company Limited (GC), represented by Chief Operating Officer Pornsak Mongkoltrirat. The collaboration focuses on reducing energy consumption and enhancing heat exchange efficiency across GC's facilities, with a shared goal of becoming a low-carbon organization.

At the heart of this partnership is TOYO’s proprietary HERO (Hybrid Energy system Re-Optimization) technology, which GC has identified as crucial in its journey to achieve net-zero greenhouse gas (GHG) emissions by 2050.

Mr. Pornsak Mongkoltrirat, Chief Operating Officer of GC, emphasized the importance of this collaboration, saying, “Partnering with TOYO to implement HERO technology will elevate GC’s production sites, aligning with our ‘3 Steps Plus Evolution’ strategy, which maximizes efficiency and minimizes costs through innovation and technology while balancing business growth with sustainability. This partnership reinforces our commitment to sustainability, minimizing environmental impact, and advancing GC’s mission of becoming a low-carbon organization by 2050.”

Mr.Eiji Hosoi, President and CEO of TOYO, emphasized the importance of this collaboration, saying, “We are honored to be part of this groundbreaking initiative, which aligns perfectly with TOYO’s mission of 'Engineering for Sustainable Growth of the Global Community.' As a technology provider, we aim to drive innovation in energy conservation and decarbonization solutions for chemical process industries. This collaboration underscores our commitment to advancing a carbon-neutral society and supporting sustainable development of GC and beyond.”

Key Aspects of the Collaboration:

１． Driving Energy Efficiency and Decarbonization

Under the MOU, TOYO will conduct in-depth assessments of key GC Group plants, including refineries and five steam cracker plant trains. By leveraging HERO technology, an emerging and cutting-edge innovation being implemented across the majority of GC’s facilities, this initiative aims to significantly reduce carbon dioxide emissions and enhance overall energy efficiency.

２． Mutual Knowledge and Expertise Sharing

Both companies have agreed to exchange personnel and expertise to further develop their respective capabilities. TOYO will gain insights into GC's plant operations, while GC will benefit from TOYO's technological expertise in energy efficiency and decarbonization efforts.

TOYO has a proven track record with GC, having already introduced HERO technology in two of the company's plants. The company remains committed to supporting Thailand's petrochemical industry in its decarbonization journey while contributing to global efforts to curb carbon emissions.

Photo of а signing ceremony in Tokyo on 8th November.　
From the left, GC Pudit Suttrasirikul Vice President of Technology, GC Pornsak Mongkoltrirat Chief Operating Officer, TOYO Ken Matsumuro Senior Executive Officer, TOYO Toshihiro Wakabayashi General Manager of Advanced Technology Business Department.

About GC
PTT Global Chemical Public Company Limited, or GC, is dedicated be a leading global chemical company that enhances people’s lives with innovative plastics and chemicals following our vision of Chemistry for Better Living. We operate a business that prioritizes the balance of environment, social, and corporate governance alongside economic (ESG) efficiency, aiming to maximize resources use under the Circular Economy concept. GC focuses on innovating products and solutions that address megatrends while meeting the expectations of all stakeholders.

GC is the only company in the world to have been ranked number 1 in the Chemicals Sector by the Dow Jones Sustainability Indices (DJSI) with the highest score for five consecutive years (2019-2023) by S&P Global. Also, we have been rated at Leadership Level (A List) in water management and environmental management in climate change by CDP. Currently, GC has 50 operational sites in Thailand, 43 globally, and 33 tech centers in 20 countries worldwide, with a total of 11,202 employees*. We have total revenue from sales amounting to 616,635 million baht in 2023. GC is driving toward becoming a low-carbon organization while ensuring sustainable business growth by setting clear strategies and plans that are trackable, with aims to reduce greenhouse gas emissions for 20 percent by 2030 on our journey towards achieving Net Zero by 2050.

*Data as of 31 December 2023

About TOYO

Toyo Engineering Corporation has been at the forefront of engineering innovation since 1961. As a global engineering and project solutions partner, TOYO offers advanced technological solutions across a range of industries, from oil and gas to renewable energy and petrochemicals in over 60 countries. By leveraging its cutting-edge expertise and commitment to excellence, TOYO helps businesses worldwide achieve operational efficiency and sustainable development. With a mission of "Engineering for Sustainable Growth of the Global Community" Toyo is committed to driving progress and delivering solutions that benefit industries and communities alike. Learn more at https://www.toyo-eng.com/jp/en/.

What is HERO?

HERO is a groundbreaking energy-saving technology developed by TOYO that utilizes mathematical optimization, which has been recently classified as a form of Artificial Intelligence. HERO offers exceptional energy-efficiency solutions by:

・Achieving remarkable energy-efficiency improvements without major facility modifications.

・Increasing energy savings even in plants where energy efficiency has already been optimized through conventional methodologies.

== For more detailed information please refer to the link below ==

▼December 14th, 2023, Business Strategy Briefing: TOYO’s Plant Energy Conservation and Decarbonization Solutions for Chemical Process Industries

https://www.toyo-eng.com/jp/en/company/plan/mid-meeting/pdf/202312HERO&SH_final_en.pdf

▼October 3rd, 2023, Press release: TOYO Awarded Energy Efficiency Study Contracts for Modernizing a Large-Scale Aromatics Plant and Phenol Plant from GC.

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