Message from President and CEO
To handle critical external factors, “Carbon Neutral” and “Corona Virus”, we proceeded a proactive and a defensive management for the sustainable and long-run development of the company during this year.
Regarding “Carbon Neutral”, Year 2020 was the memorial year when each government including, but not limited to, Japan, China and Korea same as the EU announced this target in line with the 2015 Paris climate agreement. In addition to the governments, the international and reputable companies announced “Carbon Neutral” to achieve Goal 13 Climate Action, one of Sustainable Development Goals established by the United Nations.
In response to the global circumstances above, TTCL acquired Blackwood Technology, a Dutch intellectual property company for the cutting edge Torrefaction technology, and reinforced Torrefied Biomass Business for our valuable clients to achieve fuel conversion from fossil fuel, coal and/or oil, to biomass fuel, as a renewable energy, efficiently by the use of a wide variety of biomass feedstocks, reduction of logistics costs and lowering project cost, both CAPEX and OPEX, at power and heating plants for handing and burning.
Idemitsu Kosan, one of the energy giant companies in Japan, petroleum and coal currently and “Carbon Neutral” as the target in Year 2050, is our strategic partner, not only as a 5% shareholder of TTCL but also a joint-developer of several kinds of business including Torrefied Biomass Business.
Regarding “Corona Virus”, Year 2020 was challenging year that the most of the projects, both EPC and Investment, delayed due to the severe market conditions and physical limitation of communication and transportation. Under this severe status, we had successfully entered a EPC contract for TOP SPP Expansion project as a EPC contractor, and a power purchase agreement for Ahlone LNG to Power Project in Yangon, Myanmar, 388MW as an investor and an EPC contractor.
With your great patience and support, we will create new types of business model, an Energy provider beyond an EPC contractor, in response to the market and client’s requirements, and achieve the variety of business portfolio for sustainable development of the company.
Mr. Hironobu Iriya
President and Chief Executive Officer