Thai ethanol producer to use IPO funds for biogas power project

In Thailand, the country’s third-largest ethanol producer will use about 296 million shares from its upcoming IPO to fund a 3MW biogas power plant, along with reducing debt and increasing working capital. The power plant will supply the ethanol plant and is expected to significantly reduce its power costs. The two phases of the project should be online by the third quarter and year’s end, respectively.