Memorandum of Understanding Regarding the Development of a Bio-based Products and Renewable Energy Business in Thailand

Jan. 24. 2022
Marubeni Corporation
Marubeni Thailand Co., Ltd.
Mitr Phol Sugar Corp.,Ltd.

Marubeni Thailand Co., Ltd (hereinafter, “Marubeni Thailand”) which is a wholly-owned corporate subsidiary of Marubeni Corporation (hereinafter, “Marubeni”) and Mitr Phol Sugar Corp., Ltd. (hereinafter, “Mitr Phol”), which is World Class Sugar Producer have signed a Memorandum of Understanding (hereinafter, “MOU”) regarding the related businesses of bio-based products(*1) and renewable energy in the Kingdom of Thailand (hereinafter, “Thailand”).

The purpose of this MOU is to develop raw materials for the manufacture and sales of bio-based wrapping, packaging and food container products by utilizing all the agricultural-derived resources, including agricultural residues, owned by Mitr Phol, which is the largest sugar manufacturing company in Thailand, and also to develop and introduce renewable energy.

Based on this MOU, Marubeni Thailand and Mitr Phol will consider the realization of such various decarbonized businesses as fossil fuel-based plastics reduction through bio-based product development and the introduction of renewable energy by utilizing Marubeni Group’s knowledge, technology, and sales network, together with Mitr Phol’s economic advantages on fully integrated agribusiness model and innovative technology. Furthermore, Marubeni Thailand and Mitr Phol will also contribute to the Bio-Circular-Green (BCG) Economy (*2) which is an important policy of the Thai government.

(*1) Bio-based products: Mainly consist of the following 4 types of products:
① Biomass plastic made from renewable organic resources such as plants
② Biodegradable plastic which can be decomposed through the action of living organisms, usually microbes, into water, carbon dioxide, and biomass
③ Final products such as wrapping, packaging, food containers made from ① and ②
④ Bioethanol which is made from fermented organic resources such as sugarcane

(*2) Bio-Circular-Green (BCG) economy:
As background, with abundant resources for bio-technology Thailand has created a national strategic model. Thailand’s government is encouraging technological innovation, aiming for improved productivity and promoting high-value added products by focusing on the following 4 areas, while recognizes the importance of biodiversity and cultural diversity: (1) food and agriculture, (2) medical and health care, (3) bio-energy, materials and chemicals and (4) tourism and the creative economy.

<About Marubeni Thailand>
Company Name : Marubeni Thailand Co., Ltd.
Location : 10th & 11th Floor, Sindhorn Building, Tower 2, 130-132 Witthayu Road, Lumpini,
Patumwan, Bangkok 10330, Thailand
Incorporated : 1974
President : Hidaka Kazuo
Business : Marubeni Thailand conducts business in Thailand in a wide range of areas including lifestyle,
forest products, food products, agri business, chemicals, energy, metals & mineral resources,
power business, infrastructure projects, construction, industrial machinery & mobility.
HP : https://www.marubeni.co.th
<About Mitr Phol>
Company Name : Mitr Phol Sugar Corp., Ltd
Location : 2, Ploenchit Center, 3rd Floor, Sukhumvit Road, Klongtoey, Bangkok10110
Incorporated : 1956
Chairman : Buntoeng Vongkusolkit
Business : Manufacturing and sales of sugar and bio-energy (biomass power generation, bioethanol)
related bio-based businesses.
HP : https://www.mitrphol.com