I saw this article today in the NZ Herald about a new fund called the ‘Rutherford Innovation Fund’ which seeks to invest $50 Million into CleanTech in New Zealand. Like the article points out, this is one of a number of new funds that have been announced this year, including one at Endeavour Capital whom I also work for.
CleanTech is a broad definition for products and technologies that improve performance, productivity and efficiency, while at the same time reducing costs, energy input, pollution or waste. These technologies have an incredibly broad range of application in Energy Generation (wind, solar, biofuel, wave), Energy Storage (advanced batteries, fuel cells), Agriculture (organic pesticides, land management), Energy Efficiency (building, lighting), Waste Treatment, and Water and Air Purification. The list is extensive.
As I’ve pointed out before, there are some excellent CleanTech companies already operating in NZ, but we could and should be doing more in this area, as it will be of huge significance in the near future. Hopefully this fund will encourage that.