Bangchak Corporation Public Company Limited | Asia Responsible Enterprise Awards
 

CHAIWAT KOVAVISARACH

President & CEO
Bangchak Corporation Public Company Limited

INTRODUCTION

Under Chaiwat’s leadership, Bangchak Group which started off as a refinery, has transformed into a group of companies focusing on green energies and innovation. Bangchak’s vision of “Evolving Greenovation” has driven the Company to transform itself for sustainability over the years.

Bangchak Group now has businesses in five main areas including:
1) Refinery Business Group, producing premium grade gasoline and diesel, and its gasohol and diesel products meet the Euro IV standard with a maximum capacity of 120,000 barrels per day. Refined products are distributed to over 1,200 service stations across the country.
2) Marketing Business Group, the second largest market share in the country with a network of more than 1,200 service stations, supplemented by non-oil businesses namely Inthanin Coffee and SPAR convenience stores.
3) Green Power Business, through operations and investment in renewable energy business by BCPG Plc. in solar, wind, geothermal and hydropower businesses in Thailand, Japan, Philippines, Indonesia and Laos.
4) Bio-based Products Business Group operated by BBGI Plc., the largest producer and distributor of biofuels in Thailand;
5) Natural Resources Business comprising petroleum exploration and production business through OKEA ASA in Norway and lithium mining business through Lithium Americas Corp. (LAC) in Argentina and the US.
Chaiwat has implemented the 3S Strategy for Security, Stability, and Sustainability, with special focus on the BCG Model guided by the principles of “Bio-Economy: optimising natural resources, Circular Economy reducing wasteful consumption, and Green Economy for environmental sustainability. The Company has expanded beyond its refinery business to develop clean energy technological innovations, expanding green innovation domestically and internationally.

In addition, Bangchak Initiative and Innovation Center (BiiC) was established to create a Green Ecosystem to drive innovation on green energy and bio-based product business.

ACHIEVEMENT AND IMPACT

Chaiwat has driven many innovative initiatives with Bangchak, many of them has put Bangchak on the map as “the first” or “pioneer”, most recently, namely.
• First Digital Overhead Service Station in Thailand at Sukhumvit 62 to deliver convenience to customers whom do not have to concern themselves over which side of their car the gas cap is placed.
• First Green Community Energy Management System (GEMS) project in Thailand on Srinakarin road – future Blockchain evolving into a power generation system outside the authority’s grid (Smart Isolated Microgrid) for buildings and shops in the vicinity to trade maximum power at a low cost.
• First Trial Project for P2P Energy Trading by BCPG (in South East Asia and the Largest in size in the World when launched) - a pilot project aiming to decentralise the country’s electricity generation.
• Bangchak is a pioneer in launching environmental alternatives to consumers, most recently with the introduction of Hi Diesel B20S, a product designed to support the oil palm farmers during their struggle from the market oversupply of palm oil.
• Bangchak is in the process of setting up a SynBio Academy to support synthetic biotechnology business development.

With his dedication and commitment in securing Bangchak’s sustainable growth through such balanced business management goals and his passion in focusing on innovation, Bangchak has been honored with a number of awards in innovation, corporate governance, financial successes, corporate image, etc. Chaiwat himself has also been recognised with various awards, from leadership to innovation, to name but a few.

Chaiwat’s passion for green innovation above and beyond Bangchak’s businesses is also reflected in a monthly column in Krungthep Thurakij (Bangkok BizNews) newspaper “Everlasting Economy” which he contributes as a writer. Two books under the same title have been published as a compilation of those articles.
Chaiwat Kovavisarach, Thailand’s greenovative CEO, has served as President and CEO of Bangchak Corporation Plc (BCP) since 2015. Bangchak Group has transformed from refinery business at its inception in 1984 to be among leaders in green innovation business today.
www.bangchak.co.th