Thaioil joins hands with Thai startups “Mined Technology” to innovate “Micro-dissolvable needle patch”, which is an alternative to the current syringe. This is a new option for health care.
Mr. Wirat Uanarumit, Chief Executive Officer and President of Thai Oil Public Company Limited (TOP), revealed that TOP Ventures, a subsidiary of Thaioil, has partnered with Mineed Technology Company Limited (Mineed Tech), which It is a Thai startup specializing in health care products. innovate “Detachable Dissolvable Microneedles” which is an alternative to the current syringe. This technology has been developed further by releasing the needle Microneedles mix the drug to be implanted into the subcutaneous layer and the drug will gradually penetrate to the target location precisely effective And this new innovation can also reduce the actual usage time to only 2 minutes, suitable for many practical applications such as medicines, cosmetics or even various nourishment.
“Detachable Dissolvable Microneedles are Deep Tech products invented by Thai startups. which Thaioil has jointly invested with Plc. Bangkok Dusit Medical Services (BDMS) and other investors to help push this product into a wide range of applications in both pharmaceutical and cosmetic fields. It can be considered as a new option for health care.”
In 2021, Mineed Technology Co., Ltd. was able to begin manufacturing and distributing cosmetic products in OEM form for cosmetic brands in Thailand and abroad. In addition, there are joint development of products and products with many leading hospitals and clinics in Thailand. which is considered another pride of Thaioil that we have been a part in driving the business potential of Thai people to the international market
Mr. Wirat said that Thaioil aims to expand into other businesses or New S-Curve as one of the strategies to diversify growth and build stability through the company’s portfolio ( Value Diversifications), in addition to investing in Venture Capital, will also seek opportunities to invest in innovative startups. to reduce volatility in refinery and petrochemical businesses The Company has set a goal that Thaioil’s business in the year By 2030, there will be approximately 10% revenue from new businesses, while the proportion of revenue from petroleum refining business 40%, petrochemical business 40% and power plant business 10%.”
Thaioil has invested in Venture Capital funds and start-up businesses. There is an investment framework in 3 main technology groups: 1. Technology to support industry and production. (Manufacturing Technology) 2. Technology for sustainability (Sustainability Technology) covering health care products or health care, the biotechnology industry business (Bio Business), and the Circular Economy and 3. Technology transforming the petroleum business. and technology that supports the reduction of oil consumption (Hydrocarbon disruption Technology)
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