Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Windflow Gets Off The Ground!

Offer Extended To September 28th

The Windflow Technology share offer has reached the minimum $2m required to establish local wind turbine manufacturing in New Zealand.

The Company will now apply to the Companies Office for an extension to September 28th in order to fill the offering (target $3 million).

In the meantime, work will commence on establishing the venture, setting up an office, employing staff and finalising specifications for the major wind turbine components.

"We are delighted to have reached this major milestone," said company chairman, Dr Neil Cherry. "Public support for our proposal has been overwhelming as people pay more for electricity, recognise how vulnerable our hydro resource is with two serious shortages in less than a decade, express concern at the climate change impacts of gas-powered generation, and see the opportunity for a socially responsible and very timely investment. We would like to express our thanks to the hundreds of investors who have come forward to do something about it."

"We look forward to being able to make real progress now," said executive director Geoff Henderson. "Work can now commence on making this vision a reality. Wind power is going to be a major player in New Zealand's energy future. Neil, I and others have been saying this for a long time, but building a world-beating wind turbine right here in New Zealand is the best way of making the point. We're excited by the challenge."

-ends-


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. More>>

Elsewhere:

Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:

Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>