Earth Tech Environment Public Company Limited (ETC) announced that on March 8th, 2024, it signed a shareholder agreement with Gulf Waste To Energy Holdings Company Limited (GWTE), a subsidiary in which Gulf Energy Development Public Company Limited holds 100.00% of shares. This agreement is for the joint development of an industrial waste power plant project. The details are as follows: The Signing of a shareholder agreement between ETC and GWTE to jointly invest in GGP, the developer of 10 industrial waste power plant projects, with each party participating in the proportion of 50.00%.

The Signing of a shareholder agreement between ETC and GWTE, along with Westech Exponential Company Limited ("WTX") for ETC to become a shareholder in 2 industrial waste power plant projects under Suntech Innovation Power Company Limited ("SIP") by purchasing capital increase shares. Presently, GWTE and WTX hold 51.00% and 49.0% of shares in SIP, respectively. Following the aforementioned capital increase, the shareholding proportions in SIP for ETC, GWTE, and WTX will be 33.00 percent, 34.00 percent, and 33.00 percent, respectively.

The 2 industrial waste power plants under SIP have a combined contracted electricity generation capacity of 16 megawatts. A power purchase agreement for a duration of 20 years with the Provincial Electricity Authority was signed on October 16, 2023.