Thai companies are investing in America. Thai energy conglomerate Banpu Plc. has purchased Bedrock Production, a gas provider in Texas, for $370 million, complementing its moves into renewables by expanding its natural gas portfolio and its international holdings.

“The gas business in the U.S. serves as one of the key pillars for achieving an energy balance, while generating strong cash flow under our Energy Symphonics strategy,” said Sinon Vongkusolkit, Chief Executive of Banpu, in announcing the deal in September.

President Donald Trump has encouraged non-American firms to invest in the U.S. economy as a means of both hedging against his tariffs and reaping the benefits of American growth and dynamism. But Thai firms, especially in the energy sector, were already a step ahead of the president, expanding into the U.S. market through investments, mergers, and acquisitions for more than a decade and before tariffs were a factor.

Among the Thai firms with a presence in the U.S. are Gulf Energy, which purchased a 49 percent stake in Illinois gas provider Jackson Energy; BCGP, which owns gas power plants in Ohio; EGCO, which is building solar farms in Ohio and owns wind energy farms in Maine; and PTT, which has a strategic partnership with Glenframe in Alaska on liquefied natural gas.

Banpu is already an owner of Denver-based BKV, which in 2022 bought natural gas properties from ExxonMobil. Banpu and the other Thai firms are also rebalancing their businesses to include more renewable energy, and they are searching for opportunities in the U.S.

For instance, Bangchak Corporation Public Company Limited (BCP), another Thai energy firm, has formed a subsidiary that has been investing in energy-related startups, with several in the United States. BCP has invested an undisclosed amount in California-based innovative battery technology developer Enevate Corporation. Previously, it had invested in California-based biodesign firm Geltor, electric wind turbine maker Semtive, and Virginia-based rare sugar tagatose developer Bonumose.