Open Innovation
GC recognizes high values in arranging research and development (R&D) through open innovation programs with universities, network of experts, private entities, etc. GC is aware of the current and future business opportunities that come with open innovation.
GC, therefore, has established a research and development network with external organizations, research institutes and domestic and international academic institutions, as well as, business sector to increase the channel and opportunity of accessing research of the world leading institute by participating in Research Consortium. Moreover, GC has invested in Corporate Venture Capital (CVC) for the startup companies and technology funding to research and develop on the existing and new products with the focus on developing four technology groups: 1) Advanced Material, 2) Clean Technology, 3) Industrial Digital, and 4) Biotech & Life Science. These are all technologies that serve both present and future context of business, society and environment in Thailand. The examples of open innovations are as follows:
AREVO
Invested in AREVO, after invested in the company for 3.5 Million Baht. AREVO is a start-up specialized in Advanced Materials, particularly in 3D printing. GC can utilize the technology both internally or externally, which can create new opportunities in new products and business plans
NirvaMedical
Invested in NirvaMed Inc. to develop the medical technology specially in heart attack disease
ESSinc
Invested in ESS Inc. to develop the technology in Energy Storage System Technology, particularly in Flow Battery, that have better efficiency and better strengths
actnano
Co-Invested with actnano for more than 1 million USD to develop the speciality in Advanced Materials. The investment is part of the attempt to invest in Emerald Industrial Innovation Fund (EIIF), which is a fund that specializes in sustainable technology
PANGAEA
Invest in Pangaea Venture Fund IV, a venture Fund that specialized in Advanced Materials from Canada
BUILDERS
Invest in Builders VC Fund I, a venture fund that specialized in Digital Technology from the US
Emerald
Invest in Emerald Industrial Innovation Fund, a venture fund that specialized in Clean Technology from Switzerland
GC has collaborated with King Mongkut's University of Technology North Bangkok (KMUTNB) to invent and develop a robotic system in conducting thickness and corrosion inspection of large chemical storage tanks in production facilities. This robotic system provides precision and accuracy in thickness measurement with an error rate of only 0.3 percent. As a result, the company has been able to reduce operation risks and achieve more safety from less human inspection. GC has implemented this technology to the aromatics plant, which has contributed to a decrease in inspection-related expenses of 3 million baht per year.
GC has extended the research and development achievement of Dicyclopentadiene (DCPD) modified ester oligomers systhesis by licensing out to a US-based leading company in bioplastics for further development, production and distribution to customers in the coating industry and construction industry.
This technology will confer corrosion resistance, mechanical properties and curing properties, including thermal and ultraviolet curing, to the coating agent.
GC has collaborated with Nanyang Technological University (NTU), a leading University from Singapore, on developing 3D Printing technology. The objective is to collaboratively research and develop advanced materials with 3D printing technology for application in the automotive industry.
Our Customer Solution Center (CSC) becomes an effective channel to bring additional direct requirements / pain-points from business partners/ plastic converter/ startups/ government to our development team in creating innovative prototypes and finished products for trial and commercialization. CSCs have also been expanded to increase chances for the company to interact with potential customers, including the ones in KMUTT Knowledge Exchange Innovation Center (KX) and Plastic Institute of Thailand (PITH). Example of another success product from CSC, which generate income from selling products under the "Upcycling by GC trademark", is collection that GC developed innovations technologies to transform plastic waste into valuable new products with fashionable design that create the greatest benefits from resources.