Electricity Generating Public Company Limited or EGCO Group announced a 24.24%-investment in Peer Power Company Limited, a fintech startup, to promote the development of blockchain-based energy trading platform. The move will pave the way towards decentralized energy and the establishment of a comprehensive power and energy ecosystem. The transaction is completed on 21 December 2021.

Mr. Thepparat Theppitak, EGCO Group’s President, said, “EGCO Group plans to introduce blockchain technology, which Peer Power has been developing to enhance its business efficiency and reduce the cost in its financial services, into blockchain-based energy trading platform to support changes in the coming decentralized energy trend. In addition, EGCO Group will collaborate by utilizing our core business competency to provide renewable energy source to supply to Peer Power’s data center.”

Peer Power is a fintech startup established in 2016 focusing on an online electronic platform for bond and equity crowdfunding that connects investors to small and medium-sized enterprises (SMEs). Peer Power is the first platform which has obtained a crowdfunding license from the Securities and Exchange Commission (SEC) since 2019.