Making an investment in changing the way we live
Summary
But five years may not be workable for the new business models and technologies we need for decarbonisation, and we can provide lending for 10 or even 20 years for the right opportunities, says Patrick.Patrick says when NZGIF takes an equity position it prefers to be a significant minority shareholder.But we can play a role by helping with governance, strategic direction and decarbonisation approach.Patrick has been a director of ESP (Efficiency, Sustainability, Performance), Carbn Group Holdings and Internet of Things telco Thinxtra, and chair of TNUE (Total Nutrient Use Efficiency). The investment will accelerate Ruminant Biotechs business development programme, help set up manufacturing and get its product to market faster.The bolus, or ball, with active ingredients is swallowed by the animal and sits in the stomach for up to six months. The ingredients are released over time and have the effect of reducing methane emissions.Initial trials show Ruminant Biotech could deliver a 70 per cent methane emission reduction per treated cow over six months, and the company is aiming to launch its bolus as a commercial product in 2025.NZGIF has also taken a $2.5m equity stake in TNUE, which aims to produce a new fertiliser that significantly reduces nitrous oxide gas emissions, using a novel control release membrane technology.This investment will help TNUE build a processing plant near Taup and is expected to open by the middle of next year.NZGIF has additionally provided a $15m working capital facility to Lodestone Energy, based in Auckland. Thats why building an EV charging network is so critical to helping decarbonise New Zealands transport sector.Hamilton-based Kayasand is focused on reducing carbon emissions in concrete production by as much as 20 per cent. Other countries dont have some of the benefits New Zealand has such as a renewable electricity base.Theres more widespread understanding of the climate problem and the emissions trajectory is lower now than it would have been if we werent pursuing it.