The Innovation Center has signed a Memorandum of Understanding with the Faculty of Medicine, Chulalongkorn University to jointly research and develop medical device innovations that can lead to commercialization. Products that have already been launched include a topper that helps relieve symptoms of acid reflux under the name “PAKPING” pillow. In addition, the Innovation Center has also collaborated with leading institutions, such as Vidyasirimedhi Institute of Science and Technology (VISTEC), Chiang Mai University, Faculty of Architecture, Chulalongkorn University and PTT Group companies, etc. Such collaboration shortens development time and thus the time to market. In implementing IRPC's strategy to gain access to Start-up ecosystem as investor, the Innovation Center joined the Decarbonize Thailand Start-up Sandbox project, a knowledge exchange space to accelerate Thailand’s Net Zero goal while also developing and customizing solutions for new products and services to meet market demand through collaboration with the world’s leading start-ups. IRPC has cooperated with Thai Carbon and Krosslinker to develop product prototypes that have already passed analytical testing in the laboratory. Through collaboration between IRPC and the Faculty of Medicine Vajira Hospital Navamindradhiraj University to establishing Vajira Lab for Society Co., Ltd. as an analysis and inspection center for medical personal protective equipment to meet standards. In 2022, Vajira Lab for Society was certified by the Thai Industrial Standards Institute (TISI) and has since opened for services. The Innovation Center has adopted a digital system for use in analytical testing at IRPC’s Analytical and Laboratory Center and developed personnel to gain international expertise. Thus, improving analytical testing capability to provide faster, more accurate and with higher precision. This inspires trust among the company’s customers. The digital system enables the company to effectively conduct quality control at all stages of the production process from quality inspection of feedstock to quality assurance of its products. In addition, the Analytical and Laboratory Center saw the opportunity to earn additional income by offering analytical testing services to external customers by fully utilizing its personnel’s skills and expertise as well as cutting-edge specialized equipment and tools at its disposal to deliver testing results that meet high standards. In 2022, the Analytical and Laboratory Center generated a total of Baht 13 million from analytical testing services. IRPC’s strategy places a priority on innovation research and development with a view to improving the company’s competitiveness and sustainable business operations. In 2022, the company received merit recognition in the category of “Innovative Organization” for large organization at the “National Innovation Day 2022” from the National Innovation Agency (Public Organization). This is in recognition of the company's unwavering undertaking to develop innovations from its knowledge base, experience, and expertise to add value to materials alongside constant improvement in energy efficiency and the use of alternative energy of the future. The company is also known for its ability to consistently offer solutions that meet the needs of modern society in the quest for a good life and healthy living environment. Guided by its lofty vision, IRPC strives to excel in every endeavor it makes while building the body of knowledge as well as adopting new ways of thinking to transform the way it does business and diversify beyond the petroleum and petrochemicals to be able to meet the needs of more diverse customer base and greater number of customers throughout the world through collaboration with business partners. For addition information on IRPC’s innovation research and development, please visit: https://innovationcenter.irpc.co.th/ 120 56-1 One Report 2022 IRPC PUBLIC COMPANY LIMITED
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