Plug and Play Tech Center, the world’s largest corporate innovation platform, has announced a strategic partnership with PTT Public Company Limited to digitally transform Thailand.
Under PTT’s Powering Thailand’s Transformation initiative, the partnership will create an international Innovation Ecosystem to enable PTT to become more than just a manufacturer and distributor as a state-owned oil and gas company.
“The collaboration provides a great opportunity for PTT to increase its innovative potential and help see more substantial results by learning from Plug and Play and its corporate partners worldwide,” said Worawat Pitayasiri, the Senior Executive Vice President for Innovation and Digital at PTT.
Plug and Play, headquartered in Silicon Valley, is an early investor in tech giants like Google, PayPal and Dropbox.
“This will help drive PTT to make strides alongside other innovative companies on the global stage and lead Thailand to advance to an international level,” added Mr. Pitayasiri.
Through the partnership, PTT will look to attract potential partners at large global firms and tech startups through Plug and Play’s accelerator platform and partnership channels, providing direct contact to tech companies.
“We are delighted that PTT will be collaborating with Plug and Play under the Smart City Program,” said Shawn Dehpanah, the Executive Vice President and Head of Corporate Innovation for APAC at Plug and Play.
The Smart City Program will bring together leading corporations from various industries, including energy and sustainability, real estate, mobility, IoT and digital health. These collaborations will help provide solutions for PTT’s innovation strategy, which range from battery storage technologies, renewable energy, new mobility, and pushing Thailand towards Industry 4.0.
By working with Plug and Play, PTT will be able to obtain data from different startups and tech firms to extend the company’s S-curve with its ExpresSo team and empower innovation.
PTT ExpresSo has three blueprints to digitally transform energy, mobility and industry.
Their New Energy blueprint involves building businesses with alternative energy for sustainability and security by adopting technology for effective maintenance of solar cells, for example.
The New Mobility angle focuses on improving domestic transport systems to reduce pollution for better quality of life for people, including battery production for electric cars.
And the New Industry concept looks to drive Thailand’s capacity to compete under Industry 4.0 management and maintain national economic security such as artificial intelligence systems for factories.
This partnership continues PTT’s venture into digital transformation, as PTTEP, a national petroleum exploration and production subsidiary of PTT, awarded American multinational corporation, Halliburton, with a digital transformation contract to design and implement a series of projects last week.