ENERGY ABSOLUTE

What ENERGY ABSOLUTE does

Energy Absolute Public Company Limited (SET: EA) is a Thailand-based clean energy conglomerate operating across six vertically integrated business segments. Bio Innovation produces B100 biodiesel at 800,000 liters per day, green diesel and hydrogenated vegetable oil (HVO) at 130 tons per day, purified glycerin, and Bio-PCM at 65 tons per day under Thailand's first and only registered Bio-PCM patent. Renewable Power Generation comprises 278 MW of solar capacity, 386 MW of wind (with an additional 180 MW of wind under PPA), and waste-to-energy operations. Lithium-ion battery manufacturing is conducted by Amita Technology (Thailand) Co., Ltd., a wholly-owned subsidiary with infrastructure expandable to 4 GWh per year. Commercial electric vehicles are assembled by Absolute Assembly Co., Ltd., the first commercial EV manufacturing and assembly plant in ASEAN, with initial 3,000-units-per-year capacity (expandable to 9,000) producing buses, trucks, MINE Smart Ferries, and MINE Locomotives. The EA Anywhere charging network operates 500+ stations across Thailand via a mobile application supporting BEV, HEV, and PHEV vehicles. The company is headquartered in Bangkok's Din Daeng district (AIA Capital Center, Ratchadaphisek Road), with manufacturing and operations sites in Prachinburi, Chachoengsao, Lamphun, Nakhon Sawan, Chaiyaphum, and Ko Larn Island, and a Hong Kong-incorporated wind subsidiary (Hanuman Wind Power).

Revenue is generated through several distinct mechanics. Long-term PPAs with EGAT and provincial electricity authorities deliver recurring utility-scale revenue from solar and wind generation. The Bio Innovation segment sells B100, HVO, glycerin, and PCM to industrial buyers and oil traders, historically including PTT, under commercial contracts. Commercial EV and lithium-ion battery sales generate hardware revenue to fleet operators, with Thai first-mover positioning in battery and EV manufacturing. EA Anywhere provides usage-based revenue from individual EV drivers via the app, supplemented by cashback programmes such as the 10% Line Man EV Taxi cashback. Renewable Energy Certificates (RECs) are issued and traded into Thailand's REC market (projected to grow at 9.7% CAGR to US$25.58M by 2032), creating transaction-fee revenue from corporate ESG buyers. Carbon credits are being generated under Article 6.2 of the Paris Agreement through the Bangkok E-Bus Programme.

EA distributes through a multi-channel model spanning direct B2B sales to utilities and industrial buyers, dealer networks for commercial EVs, the EA Anywhere self-serve mobile application, and government-backed initiatives including the PMUC Zero Burn to Earn programme (B100 biodiesel and solar panels replacing agricultural burning) and the Bangkok E-Bus Programme. Notable ecosystem integration includes subsidiaries Paypop and Italig holding equity in ITPP Co., Ltd. to deploy ride-hailing EVs on the Line Man platform. Following historical governance concerns, EA has executed material debt restructuring that reduced obligations over the next three years by approximately 44%, and TRIS Rating upgraded the credit outlook from Negative to Stable while affirming the BB+ corporate and unsecured debenture rating in April 2026.

Name

ENERGY ABSOLUTE

Legal name

Energy Absolute Public Company Limited (บริษัท พลังงานบริสุทธิ์ จำกัด (มหาชน))

Website

https://energyabsolute.co.th

Company type

Public

Founded year

2009

Operating status

Operating

Headcount range

101–250 employees

Short description

Energy Absolute is a Thailand-listed clean energy conglomerate operating across biofuels (B100 biodiesel, HVO), renewable power (solar, wind, waste-to-energy), lithium-ion batteries, commercial electric vehicles, and a nationwide 500+ station EV charging network, serving utilities, commercial fleets, industrial buyers, and government programmes.

Ownership category

akta.pro rank

Product category

Renewable Energy and Clean Energy Solutions

NAICS

Petroleum Refineries (32411), Electric Power Generation (22111), Battery Manufacturing (335910), Motor Vehicle Electrical and Electronic Equipment Manufacturing (336320)

SIC

Petroleum Refining (2911), Cogeneration Services & Small Power Producers (4991), Fats & Oils (2070), Motors & Generators (3621)

akta.pro primary industry

Renewable Diesel (HVO/HEFA) Production (EUAAAHAD)

akta.pro secondary industries

Biofuels & Renewable Fuels Switching (Biomethane/RNG, Bio-oils, Sustainable Biomass) (EUABAJAD), Truck & Commercial Vehicle Electrification Manufacturing (eAxles/Battery Packs/Fuel Cells) (IMACABAK), EV Retrofit & Electrification Conversions (Fleet/Commercial) (TLAKAMAK), Gasification & Pyrolysis-to-Power (Waste/Biomass Advanced Thermal) (EUACAIAL)

Keywords

• Renewable energy generation
• Biodiesel production
• Electric vehicle manufacturing
• Lithium-ion battery production
• EV charging infrastructure

Headquarters

HQ city

Din Daeng

HQ country

Thailand

HQ region

Asia

Offices7 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure, Others

Revenue model

1. Renewable Power Generation: Revenue from solar (278 MW) and wind (386 MW, plus 180 MW under PPA) power plants through long-term power purchase agreements (PPAs) with provincial electricity authorities and EGAT. This is a stable, recurring revenue stream from utility-scale clean energy.
2. Biofuels and Bio-innovation: Revenue from B100 biodiesel (800,000 liters/day capacity), Green Diesel/HVO (130 tons/day), Purified Glycerin, and Phase Change Material (PCM, 65 tons/day) produced from palm oil feedstock.
3. Commercial Electric Vehicles and Batteries: Revenue from manufacturing and sale of commercial EVs (buses, trucks, ferries, locomotives) via Absolute Assembly Co., Ltd., and lithium-ion batteries via Amita Technology (Thailand) Co., Ltd. (capacity up to 4 GWh/year).
4. EV Charging Station Network (EA Anywhere): Revenue from EA Anywhere charging station network across 500+ locations in Thailand. Drivers access charging via mobile application; EA offers 10% cashback promotions to attract users (e.g., Line Man EV Taxi programme).
5. Renewable Energy Certificates (RECs): EA participates in Thailand's REC market (valued at US$11.51M in 2024, projected to reach US$25.58M by 2032), issuing and trading renewable energy certificates to corporate buyers seeking to meet ESG commitments.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

Energy Absolute produces and sells biofuels (B100 biodiesel at 800,000 liters/day, HVO green diesel at 130 tons/day, purified glycerin, and Bio-PCM at 65 tons/day) from palm oil, generates renewable electricity through solar (278 MW) and wind (386 MW) power plants sold under PPAs, manufactures lithium-ion batteries through Amita Technology (Thailand) with capacity up to 4 GWh/year, assembles commercial electric vehicles (buses, trucks, ferries, locomotives) at the first ASEAN commercial EV plant via Absolute Assembly Co., Ltd., and operates a nationwide EV charging network (EA Anywhere) with 500+ stations across Thailand.

Product overview

Energy Absolute is a diversified Thai renewable energy company operating across multiple business segments: (1) Bio Innovation Business producing B100 biodiesel (800,000 L/day), purified glycerin, green diesel/HVO (130 tons/day), and phase change materials (65 tons/day); (2) Renewable Business with solar power plants (278 MW) and wind power plants (386 MW, plus 180 MW under PPA); (3) Lithium-Ion Battery Business operated by Amita Technology Thailand with capacity up to 4 GWh/year; (4) Commercial Electric Vehicle Business operated by Absolute Assembly manufacturing EVs, MINE Smart Ferries, and MINE Locomotives (3,000-9,000 units/year capacity); (5) EA Anywhere Charging Station Business with 500+ EV charging locations nationwide; and (6) R&D Business focused on biotechnology, EV, and battery innovations. The portfolio spans the clean energy ecosystem from feedstock to finished products and services.

Differentiator

Problem solved

Functional benefit

Brands

• EA Anywhere: Nationwide electric vehicle charging station network supporting BEVs, HEVs, and PHEVs, accessible via mobile application
• MINE
• Paypop

Products and services

• B100 Biodiesel Biodiesel (B100) produced from palm oil with daily capacity of 800,000 liters, sold to industrial buyers, oil traders, and energy companies to reduce fossil fuel dependence.
• Purified Glycerin and By-products Refined glycerin and by-products from biodiesel manufacturing, used in various industrial applications, sold to industrial and biochemical buyers.
• Green Diesel (HVO - Hydrogenated Vegetable Oil) Renewable green diesel produced through hydrogenation of vegetable oils (palm oil), with daily capacity of 130 tons, sold to fuel buyers and oil traders seeking sustainable diesel substitutes.
• Phase Change Material (PCM) Bio-Phase Change Material (PCM) for thermal energy storage with daily capacity of 65 tons; sold to industrial customers and backed by Thailand's first and only registered Bio-PCM patent.
• Solar Power Plants Solar photovoltaic power generation facilities with installed capacity of 278 MW, selling electricity under long-term PPAs to EGAT and provincial electricity authorities in Thailand.
• Wind Power Plants Wind power generation facilities with installed capacity of 386 MW (excluding additional 180 MW under new PPAs), including the Hanuman Wind Power project in Chaiyaphum; electricity sold under PPAs to utilities.
• Waste-to-Energy and Waste Management Waste-to-energy solutions that convert waste materials into usable energy and support circular economy initiatives, including the Smart West Management waste management center on Ko Larn Island.
• Lithium-Ion Battery Business (Amita Technology Thailand) Thailand's first lithium-ion battery manufacturing plant operated by Amita Technology (Thailand) Co., Ltd., producing batteries for the EV market and energy storage systems with infrastructure supporting capacity expansion up to 4 GWh per year.
• Commercial Electric Vehicles (Absolute Assembly) Commercial electric vehicles (buses, trucks, ferries, locomotives) manufactured and assembled at the first ASEAN commercial EV plant via Absolute Assembly Co., Ltd., with initial capacity of 3,000 units/year expandable to 9,000 units/year; sold to fleet operators and government transport programs.
• MINE Smart Ferry Electric-powered smart ferry for waterway transportation, produced under the MINE sub-brand by Absolute Assembly Co., Ltd.
• MINE Locomotive Electric locomotive for rail transportation, produced under the MINE sub-brand by Absolute Assembly Co., Ltd.
• EA Anywhere Charging Station Network Nationwide electric vehicle charging network with over 500 stations across Thailand, accessible via the EA Anywhere mobile application, supporting BEV, HEV, and PHEV vehicles; charging sold on a pay-as-you-go basis with cashback promotions for partner fleets.
• Renewable Energy Certificates (RECs) Renewable Energy Certificates issued and traded from EA's solar and wind generation portfolio, sold to Thai corporations and multinational companies seeking to meet ESG commitments and renewable energy expansion targets.

Quantifiable outcome

• 500+ charging stations deployed nationwide across Thailand
• +7 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Bangkok Metropolitan Administration (BMA) / Bangkok E-Bus ProgrammecoreStrategic or Co-development Partner · 2 April 2026EA participates in the Bangkok E-Bus Programme with the Bangkok Metropolitan Administration, delivering ongoing Carbon Credits under Article 6.2 of the Paris Agreement. This represents Thailand's success in deploying electric buses on the global carbon credit stage.
• ITPP Co., Ltd. (via Line Man EV Taxi Programme)coreStrategic or Co-development Partner · 26 January 2026EA partnered with ITPP Co., Ltd. to deploy 50 BYD e6 electric taxis on the Line Man ride-hailing platform. EA's subsidiaries Paypop and Italig acquired an equity stake in ITPP, while EA Anywhere provides 10% cashback on charging costs. The programme is estimated to reduce CO2 emissions by approximately 47% (1,800 tonnes).
• Thailand REC Ecosystem Partners (EGAT, I-REC Standard, APX, REDEX)minorStrategic or Co-development PartnerEA is listed as a key market participant in Thailand's Renewable Energy Certificate (REC) ecosystem alongside EGAT, I-REC Standard, APX, and REDEX. These partnerships support digital REC registries, utility programmes, and renewable project investments across Thailand's REC market (projected to reach US$25.58M by 2032).
• National Science Research and Innovation Fund (บพข.) / Ministry of Higher Education, Science, Research and InnovationcoreStrategic or Co-development PartnerEA supports the PMUC Zero Burn to Earn initiative led by the National Science Research and Innovation Fund (บพข.) under the Ministry of Higher Education, Science, Research and Innovation (อว.). The programme converts agricultural waste into energy and value, with EA providing B100 biodiesel and solar panels to incentivize farmers to stop burning crop residue.
• Smart West Management Co., Ltd. (EA subsidiary)minorOthersEA subsidiary Smart West Management operates a comprehensive waste management center on Ko Larn Island, launched in April 2026 to support sustainable tourism and circular economy.

Scale indicators15 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• RATCH Group: RATCH Group (formerly Electricity Generating Public Company) is a major Thai state-linked utility with substantial domestic and ASEAN renewable generation assets — directly competes with EA for utility-scale renewable PPAs and Thai energy transition mandates.
• Gulf Energy Development: Gulf Energy Development (GULF) is one of Thailand's largest independent power producers with significant renewable energy exposure and EV charging ambitions through its Intouch/evme partnerships — a broad incumbent competitor across multiple of EA's verticals including power generation and EV infrastructure.
• BCPG: BCPG is a Thai renewable energy developer and operator (subsidiary of Bangchak Corporation) focused on solar, wind, and biomass power generation across Thailand and Asia Pacific — directly comparable to EA's renewable power generation pillar and a key competitor for EGAT PPAs.
• Banpu Power: Banpu Power is a Thai power producer (Banpu Group subsidiary) operating combined heat and power, solar, and wind assets across Thailand and ASEAN — comparable to EA's renewable generation portfolio and a competitor for renewable capacity additions and PPA awards.
• PTG Energy: PTG Energy is a Thai fuel retailer and biodiesel (B100) producer with its own distribution network and renewable fuel capacity — directly comparable to EA's biofuel production and industrial B100 offtake to oil traders and industrial buyers.

Broad incumbents

• Bangchak Corporation: Bangchak Corporation is a major Thai energy company with refining, retail fuel stations (including biofuel blends), and renewable subsidiaries (BCPG) — an incumbent operating across biofuels, retail fuels, and renewables, partially overlapping with EA's biofuel and charging strategies.
• BYD: BYD is a Chinese EV and battery manufacturer that supplied the BYD e6 taxis deployed under EA's Line Man/ITPP partnership — a vertically integrated global incumbent that overlaps with EA's EV manufacturing ambitions and competes in commercial EV and battery cell markets.
• Neste: Neste is a global leader in renewable diesel (HVO/HEFA) and SAF production, operating at multi-million-ton scale — a global incumbent benchmark for EA's proprietary HVO pathway and a competitor for aviation and heavy-duty renewable diesel offtake agreements.
• PTT Public Company Limited: PTT is Thailand's national oil and gas company with extensive downstream fuel retail and biofuel interests, and historically EA's first B100 offtake customer — a much larger incumbent that competes with EA in biofuels procurement, refining, and could potentially crowd EA in EV charging via PTT Station network.

Regional players

• Charoen Energy Tech: Charoen Energy Tech is a Thai/regional company with interests in renewable power generation and clean energy infrastructure — a smaller emerging Thai player comparable to EA's diversified clean energy profile but with significantly less scale across the vertical chain.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

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• Instagraminstagram.com/energyabsolute_official

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ENERGY ABSOLUTE