EA Secures Short-term Funding

Energy Absolute PCL (EA), one of Thailand’s leading renewable energy producers, today (30 September 2024) announced that it has secured Bht 1,200 million in short-term funding. The funding is from two sources, one of which is unrelated juristic person, and the other is its major shareholder, Mr. Somphote Ahunai. The two tranches are at Bht 300 million and Bht 900 million, respectively.

Mr. Vasu Klomkliang, Chief Financial Officer (CFO) of EA, said that the funds would be utilized as working capital in the run-up towards the finalization of discussions the company is holding with potential strategic partners.

“We have made good headway in stabilizing the business and the confidence implicit in these loans is encouraging. We are especially pleased that our largest shareholder was confident enough to loan such a significant amount without requiring any collateral from EA, whatsoever,” he said.

EA is one of Thailand’s leading renewable energy producers in Thailand and the leader of energy for the future such as electric charging stations, electric commercial vehicles, electric ferries and the production of batteries for transport and power storage.

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