News Detail

Date/Time
04 Feb 2019 12:45:00
Headline
Electric vehicle (EV) business investment
Symbol
BANPU
Source
BANPU
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                0162/024
                                4th February 2019
-Translation-

Subject:  Electric vehicle (EV) business investment
To:    President of the Stock Exchange of Thailand

Banpu Public Company Limited ('Banpu') hereby informs the Stock Exchange of 
Thailand that its subsidiary Banpu Infinergy Company Limited ('BPIN') has signed
an agreement to invest USD 20 million (approximately THB 635 million) in FOMM
Corporation ('FOMM'), Japan's leading compact electric vehicle (EV) developer,
via subscription to new shares.
This strategic investment, equivalent to a 21.50% shareholding in FOMM, 
represents a further expansion of BPIN's engagement with cutting-edge clean
energy businesses throughout the Asia-Pacific region. FOMM has become the
leading compact EV developer in Japan focused on close-range mobility and
safety.  FOMM has recently expanded its business including design, assembly,
quality assurance and distribution to Southeast Asia and Europe.
FOMM Corporation, established in 2013, is a leading designer of electric vehicle
headquartered in Kawasaki, Japan. FOMM focuses its EV development on compact
size vehicle and close-range mobility, hence so-called 'First One Mile Mobility'
or 'FOMM'. In addition to being environmental-friendly, FOMM vehicles are
designed to be driven in inundated condition, the concept inspired by aftermath
of 2011 Tsunami. In Thailand, FOMM (Asia) Company Limited is a Thai-Japanese
joint-venture established in 2016 to tailor its existing automotive technology
that suitable for the Thai market.
In addition to the BPIN investment, Banpu Innovation & Ventures (BIV), a new 
division at Banpu focused on disruptive technology development via R&D,
accelerator, incubator and corporate venture capital initiatives, has secured a
collaboration partnership agreement with FOMM. The partnership will focus on R&D
and commercialization projects relating to virtual power plants, micro-grids,
electric vehicles, EV charging station and batteries. The partnership also
ensures that FOMM vehicles will use lithium-ion batteries developed and made by
Durapower Technology (Singapore) Pte., Ltd.*  in which Banpu also has a
strategic shareholding of 47.68%.
Banpu certifies that this investment is not a connected transaction and does not
trigger the reporting requirement for the acquisition of assets of listed
companies under the Notification of Capital Market Supervisory Board.
Please be informed accordingly and kindly disseminate the information herein to 
investors.

Sincerely yours,
                                -signature-
                                        (Mrs. Somruedee  Chaimongkol)
                                 Chief Executive Officer







Remark: *formerly New Resources Technology Pte. Ltd.
______________________________________________________________________
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through the electronic system which is provided for the purpose of dissemination
of the information and related documents of listed company or issuer to the
Stock Exchange of Thailand only.  The Stock Exchange of Thailand has   no
responsibility for the correctness and completeness of any statements, figures,
reports or opinions contained in this announcement, and has no liability for any
losses and damages in any cases.  In case you have any inquiries or
clarification regarding this announcement, please directly contact listed
company or issuer who made this announcement.