BANGKOK, Thailand — 14th June 2023

Today marks an important step forward for Meranti’s new green steel project in Thailand, as Global Power Synergy Public Company Limited (GPSC), Thailand, and Meranti Steel Pte. Ltd., Singapore, announce a strategic cooperation. The cooperation aims to establish renewable solutions including offsite solar & wind energy and a future green hydrogen supply chain for one of South-East Asia’s first green steel projects.

The partnership, formalized with the signing of a Memorandum of Understanding (MoU) today, highlights both companies' commitment to driving industrial decarbonisation. In attendance at the signing were the Executive Vice President Business Development of GPSC, Dr. Rosaya Teinwan, and the CEO of Meranti Steel, Dr. Sebastian Langendorf.

With operations scheduled to commence in late 2027, Meranti’s new green steel plant promises to significantly lower carbon dioxide emissions. Using the latest technology, sustainable solutions, and an innovative energy concept, the plant is projected to reduce carbon emissions over time by up to 3 million tonnes annually, compared to traditional blast furnace technologies.

Dr. Rosaya Teinwan stated, "Our partnership with Meranti Steel signifies a pivotal moment for Thailand’s steel industry. Meranti Green Steel is not just a new venture but a significant step towards our collective aim of achieving Thailand's net-zero emissions targets."

Dr. Sebastian Langendorf, added, "We are honoured to collaborate with GPSC, a champion in renewable energy, on this pioneering project. Together, we are helping shape a sustainable future for the steel industry in Thailand that strikes a balance between economic growth and environmental responsibility."

The new project under the Meranti Green Steel brand demonstrates the commitment of countries like Singapore and Thailand in leading the sustainable transformation of the iron & steel industry, which today accounts for more than 7% of all carbon dioxide emissions worldwide.

For more information, please visit our websites at www.gpsc.co.th and www.merantisteel.com.

About Global Power Synergy Public Company Limited (GPSC)

Global Power Synergy Public Company Limited (GPSC) is a leading energy company based in Thailand, dedicated to driving progress in innovation and sustainability within the energy sector. With a future-oriented mindset, GPSC is actively transforming the energy landscape through strategic investments and collaborations aimed at developing cutting-edge technology and practices.

About Meranti Steel Pte. Ltd.

Meranti Steel, with its HQ in Singapore and the JFE Meranti Joint Venture in Myanmar, has a strong commitment to sustainability. Under its Meranti Green Steel brand, it aims to become a leader in decarbonisation. Meranti Steel sees strong partnerships as critical to its success. Meranti Steel aims to provide high-quality steel products and offer industry leading delivery and service. Meranti Steel’s No. 1 priority is safety, both for its team members and the communities it operates in.