Implementation Despite the challenges faced in 2023, IRPC Innovation Center successfully pushed 7 Core Uplift research and development projects into commercial-ready products for market launch. These projects generated an additional profit of 43 million baht. Examples of innovative products include: • Conductive High Impact Polystyrene (HIPS) resin, grade SA210BKC, for manufacturing IC trays • Polyethylene adhesive (PE adhesive) for epoxy-coated steel pipes • Acrylonitrile-butadiene-styrene (ABS) resin for refrigerator molding In addition, the Innovation Center continuously presents new research projects in a systematic manner to drive research and development towards more innovative and specialty products. Currently, there are research and development projects worth 240 million baht, with a balanced distribution of projects over time. For research and development of innovations to create Stepout businesses, there are a total of 14 projects in the De novo Research program, which are in 5 programs: Nanomaterials and Nanocomposites, Materials for Advanced Batteries, Materials for Electronics, Advanced Materials and Chemicals, and Advanced Devices. Currently, most of the projects are in the laboratory research phase to test technical feasibility or TRL 4. Currently, there are a total of 4 research and development projects in the Sandbox process: Temperature sensor, 3D printing filament, Silver nano, and Chemical for protective coating. 1 project has exited the Sandbox program to be developed into a new business of the company: Plant nutrient supplements. And 1 project had to be discontinued due to low technical and business feasibility: Technology Enablement for Solar Energy. The progress of the product samples is as follows: In 2023, the Innovation Center researched and developed REINFOXX fertilizer or “White Bear Fertilizer” to the point where 4 new formulas of the product could be launched on the market: ZiO-Sulfur (ZiO-S) and ZiO-CaB, which use nano-innovation to allow plants to absorb nutrients better, and Am-CaB and Am-Maxx, which are chelates from natural organic sources. They are not harmful to users and the environment, and they provide complete nutrients, increase plant growth, and prevent diseases and insects. The total sales volume was 15,215 liters, or 5 million baht in revenue, through cooperation with plant nutrient supplement marketing experts and the addition of online sales channels (Shopee). Silver Nano products for use as a key active ingredient in personal care, home care, and pet care products, cosmetics, and medical applications. It has effective antibacterial and antifungal properties. It has been tested with customers and is available in 4 grades: SG15000, SG15000C, SG7500, and SG7500C. The total sales volume was 107 liters, or about 200,000 baht in revenue. The company is currently looking for additional customers and developing new formulas to meet customer needs. R&D Effectiveness of incremental margin of new product aged 3 years per R&D investment in that year 2021 2022 2023 Target 1.6 1.8 1.5 Performance 1.95 0.9 0.41 (Unit: times) 122 Business-Driven Sustainability IRPC Public Company Limited
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