- Gulf Edge and Kore.ai Partner to Accelerate AI-First Transformation
Apr 14, 2026
Gulf/Kore.ai partnership
Gives Gulf Edge an exclusive right to use Kore.ai to build and deliver enterprise AI solutions for the energy, telecommunications, banking, insurance, healthcare, and public sectors in Thailand.
SAN MATEO, Calif., April 14, 2026--(BUSINESS WIRE)--Gulf Edge Co., the digital infrastructure arm of Gulf Development Public Company Limited, one of Thailand’s largest energy and infrastructure conglomerates, and Kore.ai, a global leader in agentic AI platforms and applications, today announced a strategic partnership to accelerate the development and adoption of AI-powered solutions tailored for the Thai market.
As part of this partnership, Gulf Edge will leverage Kore.ai’s market-leading agentic AI platform to build and deliver industry-specific AI solutions across key sectors in Thailand, including telecommunications, banking, insurance, healthcare, and the public sector. These solutions will be designed to enhance customer experiences, streamline operations, and enable enterprises to scale AI adoption with confidence.
Thailand is emerging as one of Southeast Asia’s fastest-growing AI markets. The country’s AI sector is projected to reach $3.5 billion by 2030, with a CAGR of over 28%, driven by rapid enterprise adoption and significant investments from both the government and private sector in AI infrastructure. As organizations move from experimentation to scale, there is growing demand for enterprise-grade, context-aware AI solutions tailored to the Thai market.
Gulf Edge is actively investing in AI infrastructure, including the development of data centers and cloud-related capabilities to support enterprise AI adoption in Thailand. By combining this foundation with Kore.ai’s AI-native agentic platform, the partnership will enable the creation of highly contextual, localized AI applications that address the unique needs of Thai businesses and consumers.
"At Gulf Edge, we are building the foundation for an AI-first future in Southeast Asia, starting in Thailand," said Sarath Ratanavadi, Chief Executive Officer of Gulf Development Public Company Limited. "Our partnership with Kore.ai brings together our strength in digital infrastructure and local market expertise with enterprise-grade platform capabilities to accelerate practical AI adoption across industries. Together, we aim to help organizations unlock measurable business value and enable the next generation of intelligent enterprises."
"Gulf Edge’s infrastructure investments and vision for an AI-first future are exactly the kind of ambition our platform was built to support," said Raj Koneru, Founder and CEO of Kore.ai. "Together, we are enabling enterprises to move beyond experimentation and deploy AI systems at scale that deliver real business impact across sectors in Thailand and Southeast Asia."
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Gulf Edge will serve as a strategic partner of Kore.ai's agentic platform and solutions, with support from Kore.ai for go-to-market (GTM) strategy and product design. The partnership positions Gulf Edge to play a leading role in delivering enterprise AI solutions in Thailand, with a focus on creating measurable business value for enterprises at scale.
It underscores a shared vision to harness the power of agentic AI to improve productivity, unlock new growth opportunities, and deliver more intelligent, responsive experiences across Southeast Asia.
About Gulf Edge Company Limited
Gulf Edge Company Limited ("Gulf Edge"), a wholly owned subsidiary of Gulf Development Public Company Limited ("GULF"), serves as the digital arm of GULF. The company focuses on digital infrastructure investments and offering top-tier digital services and solutions to a broad range of customers. GULF and Gulf Edge’s current portfolio spans telecommunications and a range of advanced technology sectors, including Advanced Info Service (AIS)—Thailand’s leading mobile and fixed broadband operator, Gulf Edge Data Center and GSA—world-class, AI-ready data center operators with current combined planned capacity of over 160 megawatts (as of January 2026).
About Kore.ai
Kore.ai, a provider of agentic applications and a market-leading enterprise AI platform, helps large enterprises realize business value through the safe and responsible use of AI at scale. It provides comprehensive offerings for customer service, AI work, and process automation use cases, built on an AI agent platform with no-code and pro-code tools for custom development and deployment at enterprise scale. Kore.ai takes an agnostic approach to models, data, cloud, and applications used, giving customers freedom of choice. Trusted by over 500 Global 2000 companies and partners, Kore.ai helps them navigate their AI strategy. The company has a strong patent portfolio in the AI space and has been recognized as a leader and an innovator by top analysts. Headquartered in the USA, Kore.ai has a network of offices to support customers in India, the UK, the Middle East, Japan, South Korea, and Europe. Visit Kore.ai to learn more.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260414119654/en/
Contacts
Media Contact: Abhijit.mhetre@kore.com
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- This Week In Energy Transition - Thailand's Green Energy Surge Fueled by GULF Investment
Feb 10, 2026
Gulf Development Public Company Limited (GULF) has secured THB 60 billion (approximately USD 1.9 billion) to invest in a portfolio of 27 renewable energy projects aimed at supporting Thailand's energy transition. The financing will fund solar, Solar BESS, and industrial waste-to-energy projects with a combined contracted generation capacity of 939 MW. These projects align with Thailand's national goal of achieving Net Zero Emissions by 2050 and underscore the vital role of private sector investment in renewable energy development. The significant backing from multilateral development banks and prominent local and international financial institutions reflects a robust confidence in advancing clean energy solutions in the region. This development is a crucial step toward fostering sustainable energy practices and promoting a circular economy in Thailand.
Elsewhere in the market, Fermi was a notable mover up 8.6% and finishing the session at $8.69. This week, Fermi and Texas Tech University System marked a major milestone in Project Matador with the delivery of six Siemens natural gas turbines for their private energy campus. Meanwhile, Formosa Chemicals & Fibre softened, down 5.5% to close at NT$40.60.
Chevron's strategic positioning and acquisitions potentially drive growth amid market volatility. Explore more about Chevron's investment thesis by clicking through to our narrative.
Don't miss our Market Insights piece, "How to invest when commodity prices get messy," analyzing pivotal trends impacting the energy transition.
Best Energy Transition Stocks
Tesla finished trading at $417.32 up 1.5%. Chevron finished trading at $182.60 up 1%, not far from its 52-week high. Equinor ended the day at NOK264.00 down 0.6%.
Summing It All Up
Explore the 194 names, such as Timken, Inner Mongolia Dian Tou Energy and Canadian Utilities, from our Energy Transition Stocks screener here. Searching for a Fresh Perspective? Outshine the giants: these 27 early-stage AI stocks could fund your retirement.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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Sources:
Simply Wall St "GULF secures THB 60 billion, or approximately USD 1.9 billion, to invest in renewable energy power projects with a total contracted generation capacity of 939 MW" from Gulf Development Public Company Limited (GULF) on GlobeNewswire (published 10 February 2026)
Companies discussed in this article include NasdaqGS:FRMINasdaqGS:TSLANYSE:CVX OB:EQNR and TWSE:1326.
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- GULF secures THB 60 billion, or approximately USD 1.9 billion, to invest in renewable energy power projects with a total contracted generation capacity of 939 MW
Feb 10, 2026
BANGKOK, Feb. 10, 2026 /PRNewswire/ -- Gulf Development Public Company Limited (GULF), Thailand's leading power and infrastructure conglomerate, has successfully secured THB 60,000 million in loan facilities to accelerate the development of 27 renewable energy projects. Led by CEO Mr. Sarath Ratanavadi and CFO Ms. Yupapin Wangviwat, the financing—channeled through GULF's renewable energy and waste-to-energy subsidiaries—supports a 939 MW portfolio consisting of 15 solar and Solar BESS projects (843 MW) and 12 industrial waste-to-energy plants (96 MW). This landmark financing underscores GULF's commitment to achieving Net Zero by 2050. The signing ceremony was graced by H.E. Dr. Angela Macdonald, Australian Ambassador to Thailand, and H.E. Ping Kitnikone, Canadian Ambassador to Thailand, alongside senior executives from partner lending institutions.GULF secures THB 60 billion, or approximately USD 1.9 billion, to invest in renewable energy power projects with a total contracted generation capacity of 939 MW
The 15 solar and Solar BESS projects, representing a total investment of over THB 43,000 million (USD 1,300 million), are set to deliver a combined 843 MW. To date, 12 projects (649 MW) have successfully commenced commercial operations, with the remaining three (194 MW) on track for completion in 2026. This large-scale initiative was financed by a prestigious syndicate of international and domestic lenders. The Asian Development Bank (ADB) served as the Mandated Lead Arranger and Bookrunner, supported by prominent institutions including AIIB, Deutsche Investitions- und Entwicklungsgesellschaft (DEG), Development Finance Institute Canada (FinDev Canada), Export Finance Australia (EFA), the Export-Import Bank of China (CEXIM), Japan International Cooperation Agency (JICA), KEXIM Global (Singapore) (KGS), and several leading Thai commercial banks such as Bangkok Bank, Bank of Ayudhya, Export-Import Bank of Thailand, KASIKORNBANK, Krungthai Bank, and Siam Commercial Bank, alongside Sumitomo Mitsui Banking Corporation, Sumitomo Mitsui Trust Bank (Thai), and DBS Bank.
In parallel, GULF is advancing the circular economy through 12 industrial waste-to-energy projects (96 MW) scheduled for commercial operation in 2027. These facilities offer a sustainable alternative to landfilling by converting industrial waste into clean energy. GULF has secured approximately THB 17,000 million (USD 550 million) in long-term financing for these projects. This funding was provided by a group of development financial institutions, including ADB and AIIB, as well as leading commercial banks such as Siam Commercial Bank, Bank of Ayudhya, TMBThanachart Bank, Sumitomo Mitsui Banking Corporation, Bangkok Branch, and Standard Chartered Bank.
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Mr. Sarath Ratanavadi, Chief Executive Officer, GULF, stated: "We would like to express our gratitude to the Multilateral Development Banks (MDBs), Development Finance Institutions (DFIs) such as the ADB, as well as leading onshore and offshore commercial banks for their financial support. This success reflects the strong confidence that both local and international financial institutions have in GULF. Currently, GULF has a diverse portfolio of projects under development, encompassing solar farms, solar with BESS, wind farms, hydropower, and waste-to-energy projects. The support from the financial sector reinforces our shared commitment to driving clean energy initiatives, which align with Thailand's decarbonization policy and the national goal of achieving Net Zero Emissions by 2050."
Mr. Aaron Batten, Country Director, Thailand Resident Mission of the Asian Development Bank, said: "As the sole mandated lead arranger and bookrunner for the renewable energy portfolio and the Environmental and Social (E&S) coordinator for the industrial waste-to-energy projects, ADB is proud to anchor this landmark transaction. Our support underscores the critical role of private sector investment in helping Thailand reach its ambitious renewable energy targets. This partnership represents a significant leap forward in the region's journey toward a sustainable energy landscape."
Mr. Kris Chantanotoke, Chief Executive Officer, Siam Commercial Bank Public Company Limited, stated: "Siam Commercial Bank is delighted to support GULF Group in implementing comprehensive sustainability projects, ranging from large-scale renewable energy initiatives such as solar farms and solar BESS to industrial waste-to-energy power projects, which play a vital role in driving Thailand's sustainable development. This support reflects the bank's commitment to promoting the circular economy and innovative infrastructure that addresses both waste management challenges and the continuously increasing demand for low-carbon energy. The financial structure of this project serves as a blueprint for future environmental projects and reinforces that industrial sustainability and financial viability within the context of Thailand's evolving energy market."Cision
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- Eni & Thailand's Gulf Development Ink Long-Term LNG Supply Deal
Dec 5, 2025
Eni S.p.A E, an Italian integrated energy company, has signed a long-term liquefied natural gas (LNG) sales and purchase agreement with Gulf Development Company, one of the largest private power companies in Thailand. Per the agreement, Gulf Development Company will purchase 0.8 million tons per annum (MTPA) of LNG from Eni for 10 years. The deliveries are expected to start in 2027. The new contract aligns with the company’s goals to build a global LNG portfolio while securing long-term commercial relationships with players in high-potential international markets.
The LNG supplied by Eni will be delivered to Thailand’s domestic regasification terminals. The regasification terminals convert the liquid fuel back into the gaseous state for use in the power sector. This contract follows a previous LNG deal signed between Eni and the Gulf Development Company in 2024 for the sale of 0.5MTPA of LNG starting in 2025.
This agreement marks Eni’s first long-term supply arrangement with Thailand, thereby expanding its presence in Asian markets. This aligns with Eni’s broader strategy to expand its global footprint and tap into markets with high-growth potential, where demand for natural gas is expected to remain strong. Eni also intends to grow its LNG capacity to 20 MTPA by 2030, with contributions from its LNG projects in Congo, Mozambique, Indonesia and other countries.
E’s Zacks Rank and Key Picks
Eni currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the energy sector are Oceaneering International OII, Canadian Natural Resources Ltd. CNQ and FuelCell Energy FCEL. While Oceaneering currently sports a Zacks Rank #1 (Strong Buy), Canadian Natural Resources and FuelCell carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Oceaneering International delivers integrated technology solutions across all stages of the offshore oilfield lifecycle. The company is a leading provider of offshore equipment and technology solutions to the energy industry. OII’s proven ability to deliver innovative, integrated solutions supports ongoing client retention and new business opportunities, ensuring steady revenue growth.
Canadian Natural Resourcesis one of the largest independent energy companies in Canada engaged in the exploration, development and production of oil and natural gas. The company boasts a diversified portfolio of crude oil, natural gas, bitumen and synthetic crude oil. It has delivered 25 consecutive years of dividend increases, one of the longest streaks among global oil producers.
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FuelCell Energyis a clean energy company offering low-carbon energy solutions. It produces power using flexible fuel sources such as biogas, natural gas and hydrogen. The company designs fuel cells that generate electricity through an electrochemical process that combines fuel with air, reducing carbon emissions and minimizing the environmental impact of power generation. As such, FCEL is anticipated to play a crucial role in the energy transition by enabling industries and communities to shift from traditional fossil fuels to low-carbon alternatives.
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Eni SpA (E) : Free Stock Analysis Report
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FuelCell Energy, Inc. (FCEL) : Free Stock Analysis Report
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- GULF Achieves Global Standing with “A” Credit Rating and “Stable” Outlook from Japan Credit Rating Agency
Nov 14, 2025
Gulf Development Public Company Limited (GULF)
Reflecting Financial Strength and Growth Strategy
BANGKOK, Nov. 14, 2025 (GLOBE NEWSWIRE) -- GulfDevelopment Public Company Limited (GULF), Thailand’s leading conglomerate, has been assigned an “A” corporate credit rating with a “stable” outlook by Japan Credit Rating Agency (JCR). This rating is equivalent to Thailand’s sovereign credit rating, reflecting GULF’s strong business potential and solid financial position. Gulf Group has a diversified business structure covering energy, infrastructure, telecommunications, satellite, and digital sectors, which effectively generates stable cash flow and effectively diversifies revenue risks, particularly following the merger with Intouch Holdings Public Company Limited (INTUCH), a leading Thai investment company in the telecommunications, media, and digital sectors, most notably holding a controlling stake in AIS, Thailand’s largest mobile operator.
Mr. Sarath Ratanavadi, Chief Executive Officer of Gulf Development Public Company Limited (GULF), stated, “Receiving the ‘A’ corporate credit rating from JCR marks another significant milestone that reflects the confidence of investors and financial institutions in the potential and stability of the Gulf Group. This achievement will enhance our international credibility and increase opportunities to expand our foreign investor base, supporting the Company’s continuous growth and business expansion in the future.”
Japan Credit Rating Agency (JCR) is a leading credit rating agency in Japan, accredited by Japan’s Financial Services Agency (FSA). It is widely recognized in global financial markets and holds over 60% market share of domestic issuer ratings in Japan. Furthermore, JCR is the only Japanese credit rating institution registered in the United States, the European Union, and the United Kingdom, making its credit ratings broadly accepted internationally.
About GULF
Gulf Development Public Company Limited (GULF) is a leading conglomerate listed on the Stock Exchange of Thailand (SET), with a core focus on Energy, Large-Scale Infrastructure, Telecom and Satellites, and Digital businesses. Recognized for its prominence in power generation, GULF has successfully developed and managed a diverse portfolio of conventional and renewable energy projects across Thailand, Vietnam, Laos, Oman, Germany, the UK, and the USA.
Following the strategic amalgamation with INTUCH in April 2025, GULF significantly expanded its scope into the Digital and Telecommunications sector, including its ventures into data centers and digital businesses. GULF continues to leverage its extensive expertise and operational excellence to ensure resource reliability, promote safe energy transition, underscoring its commitment towards sustainable development and environmental stewardship.
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GULF is committed to the global energy transition with ambitious targets for decarbonization. The company aims to achieve a 25% reduction in Scope 1 carbon intensity by 2030 and is committed to reaching Net Zero for Scope 1 and Scope 2 Greenhouse Gas (GHG) emissions by 2050. Furthermore, GULF maintains a ‘No Coal Policy’ and is increasing the proportion of renewable energy within the company’s portfolio to 40% of total electricity generation capacity 2035
For more information about GULF, please visit the company’s website: https://www.gulf.co.th/en/home
Investor Resource Center: https://investor.gulf.co.th/en/resource-centerNew_GULF-LOGO-FINAL
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3cbabf4f-d89b-41b6-a8a5-caf2f69d68a5
CONTACT: Contact: nalinuth.si@gulf.co.th
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- POSCO E&C's KRW 1.5T Thai LNG Deal Win Showcases Design Expertise
Jul 17, 2025
POSCO’s PKX unit POSCO E&C has landed a KRW 1.5 trillion contract for the Gulf MTP LNG Terminal project in Thailand, strengthening its foothold in the global LNG sector.
The company signed an agreement with Gulf Development in Bangkok to carry out a significant national infrastructure project. The scope includes building two 250,000 LNG storage tanks, unloading facilities and regasification systems capable of processing 8 million tons of LNG annually.
The Gulf MTP LNG Terminal, to be built in the Map Ta Phut Industrial Estate around 130 kilometers from Bangkok, represents Thailand’s first LNG terminal developed through a public-private partnership. The project is being jointly led by Gulf Development, a prominent private energy investor in Thailand, and PTT Tank Terminal, a subsidiary of the state-owned energy firm PTT.
Since 2002, POSCO E&C has executed more than 20 projects in Thailand, with its strong track record continuing to distinguish the company within the local construction industry.
This recent contract is especially noteworthy as POSCO E&C secured it amid intense competition from three major global firms based in Japan, China and Lebanon. The company’s extensive experience in executing LNG terminal projects, both within South Korea (in Gwangyang, Jeju Aewol and Samcheok) and abroad (including previous work in Thailand and Panama), was a key factor in winning the contract.
In the past year, shares of PKX have lost 19.8% compared with the industry’s 25% decline.Zacks Investment Research
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PKX’s Zacks Rank & Key Picks
PKX currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the basic materials space include Carpenter Technology Corporation CRS, Agnico Eagle Mines Limited AEM and Avino Silver & Gold Mines Ltd. ASM.
Carpenter Technology currently carries a Zacks Rank #2 (Buy). CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 11.1%. The company's shares have soared 43.3% in the past year. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Agnico Eagle’s current-year earnings is pegged at $1.61 per share. AEM, carrying a Zacks Rank #1, surpassed the Zacks Consensus Estimate in each of the trailing four quarters, with an average earnings surprise of 12.3%. The company's shares have rallied 74.4% in the past year.
Avino Silver, which currently carries a Zacks Rank #1, beat the consensus estimate in each of the trailing four quarters. In this time frame, it delivered an earnings surprise of roughly 104.1%, on average. ASM's shares have rallied 330% in the past year.
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Avino Silver (ASM) : Free Stock Analysis Report
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