Thaicom and ARV form drone technology joint venture
Thai Advance Innovation Co Ltd (Thai AI), a subsidiary of satellite operator Thaicom, today signed a shareholders agreement with AI and Robotics Ventures (ARV), a subsidiary of PTT Exploration and Production (PTTEP), to collaborate on development of drone technology.
The initial phase of the partnership focuses on drones for smart farming solutions to strengthen Thailand’s agricultural sector.
The two companies are establishing ATi Technologies Co Ltd to develop the drones with registered capital of Bt20 million.
Thai AI and ARV will each hold a 50 per cent stake in the new firm. Under the agreement, ATi Technologies will develop advanced drone technology, helping farmers improve agricultural productivity and addressing development challenges in Thailand’s agricultural sector.
“ARV is an important strategic partner for Thai AI. In November last year, Thai AI and ARV entered into an agreement to cooperate on drone development for agricultural use,” said Thaicom chief executive officer Anant Kaewruamvongs.
The joint venture marks a big 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.”
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.”