Thaicom and ARV form drone technology joint venture
Nonthaburi, 16 July 2020 – Thai Advance Innovation Company Limited (Thai AI), a subsidiary of Thaicom Public Company Limited, signed a shareholders agreement with AI and Robotics Ventures Company Limited (ARV), a subsidiary of PTT Exploration and Production Public Company Limited (PTTEP), today to collaborate on the development of drone technology with the initial phase focusing on agriculture drone to enable advanced smart farming solutions and strengthen Thailand’s agricultural sector.
The two companies are establishing a company called ‘ATi Technologies Company Limited’ with a registered capital of Baht 20 million. Thai AI and ARV will each hold a 50 percent stake in this new firm. Under the agreement, ATi Technologies will develop advanced drone technology, helping farmers improve agricultural productivity, and address development challenges in Thailand’s agricultural sector.
Anant Kaewruamvongs, Thaicom Chief Executive Officer, commented: “ARV is an important strategic partner for Thai AI. In November last year, Thai AI and ARV have entered into an agreement to cooperate on drone development for agricultural use. The joint venture now marks a great step forward to leverage advanced solutions and a full range of drone technology-enabled innovative agricultural services and enhance the capability of drone technology in Thailand.”
Dr. Thana Slanvetpan, ARV General Manager, said: “Our collaboration with Thaicom is a cornerstone of our partnership strategy for business growth. The new company, ATi Technologies Co. Ltd., will develop drone solutions and conduct research for a wide variety of applications including data analytics and digital farming, as well as work together with companies in the agricultural industry. The company will also explore future drone-related opportunities to help drive the Thai economy with innovation.”
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