Global Climate Solution Stocks

TSE is a Thai solar and biomass developer with utility scale and rooftop projects in Thailand and Japan. They make a majority of their revenue from these projects and a minority from their three biomass power plants (which we do not consider a climate solution). As of 2025, we are pleased to see them add floating solar.

Charoong Thai Wire makes a variety of cables, but generates over half of their revenue from cables used in electricity transmission and systems

Asian Insulators is a Thai producer of electrical insulators that are necessary for expanding the grid, a key climate solution and necessary step in the energy transition.

Stars Microelectronics (Thailand) is a Thai electronics manufacturer of semiconductors and other related equipment. While these can have applications in climate solutions, we see no direct ones as of our 2025 review.

Nova Empire is a Thai company that used to make sheeting for buildings but has completely revamped into a solar and wind company.

Lighting and Equipment Public Company is a Thai lighting designer and manufacturer. Most of their lights use LEDs which require far less power to make light than traditional power, an important climate solution.

Sky Tower is a Thai engineering firm that builds out electrical grid infrastructure from the cables to the electricity poles and they have a biogas plant.

Zapp Electric Vehicles is a Thai two-wheel electric vehicle company that offers a high-end, high-performance electric scooter, a popular style of vehicle in SE Asia.

Bangkok Expressway and Metro is a state-owned company that has the right to build and operate a series of expressways and rail lines in and around Bangkok. As of our 2025 review, they generate 51% of their revenue from their expressway business, which is not a climate solution, so we exclude them

Asefa is a Thai manufacturer of electrical components used in power distribution like switchboards and panels, an important service for expanding the electrical grid

Communication & System Solution is a Thai distributor of electrical equipment, having generated 92% of their revenue from the distribution of electrical equipment as of our 2025 review.

BBGI is a large Thai biodiesel producer that makes a majority of its revenue from recycling old cooking oils into fuel that can be used in diesel engines, thus reducing the need for the extraction of fossil fuels. We include them because they primarily recycle used oils instead of processing raw corn into ethanol, which we do not consider a climate solution.

ATP 30 is a Thai provider of mass transit bus services in Thailand. By providing bus and shuttle service, they reduce the demand for single-occupancy cars on the road, a far less energy efficient mode of transport, with a majority of their revenue coming from serving public transit systems

JRW Utility is a Thai engineering company that builds and maintains electrical transmission systems, a necessary precursor to electrifying everything. They also generate some revenue from managing IT systems, but it's not a majority.

Delta Electronics is a Thai manufacturer of electronics that builds across many product lines. While it does make some products that can be used in expanding the electrical grid, it generates more revenue from its other business lines again in our 2025 review.

Power Line Engineering is a Thai construction firm that engages in many kinds of construction projects. While some of them are grid expansion projects, they do not provide a sufficient breakdown of their revenue from their different business lines, which we found again in our 2025 review (their last annual report was 2020).

Power Solution Technologies is a Thai provider of energy services. While they generate 7.5% of their revenue from renewable development, 76% is from fossil fuel distribution, so we will exclude them in our 2025 review.

Demco is a Thai engineering and construction firm that builds and maintains electrical grids and builds solar farms.

Eastern Technical Engineering generates more of their revenue from people management services and biomass than their grid expansion work and solar, so we exclude them again in our 2025 review.

Kijcharoen Engineering is a Thai manufacturing firm that makes electrical systems for buildings. As these are not used for expanding the grid, we exclude them as of our 2025 review.