Video | Business Headlines | Internet | Science | Scientific Ethics | Technology | Search


Manawatu Investment Group backs battery technology

Manawatu Investment Group backs Massey battery technology

Manawatu investors have given a significant funding boost to commercialise leading research from Massey University.

The Manawatu Investment Group (MIG), established earlier this year [2007] by The Bio Commerce Centre (BCC), has put a sizable seven-figure sum into Anzode Inc, a fledgling company that is developing a revolutionary zinc battery technology.

The new technology was developed by Michael Liu and Simon Hall in the Institute of Fundamental Sciences during Dr Liu’s PhD research under Associate Professor Hall’s supervision. Together they created a rechargeable battery that uses zinc, a perfect material for battery electrodes as it is cheap, plentiful and efficient. This is the first time that zinc can be widely-used in rechargeable rather than single-use batteries.

Massey signed a commercialisation deal with Anzode which grants the company exclusive rights to the technology. The company runs a laboratory in NZ but has its main office in the United States to be close to the potential market. The battery will be used in a number of applications including hybrid vehicles.

Anzode Chief Executive and Massey alumni Chris Officer says “The investors have recognised that we’ve have exciting next generation technology combined with an excellent market proposition.” Mr. Officer added that “Anzode is delighted to keep the Manawatu connection very strong.”

Deputy Vice-Chancellor of Research and Academic, Nigel Long says: “We have had wonderful support from Dean Tilyard and his team at The Bio Commerce Centre. They have fully supported the third party investment in this Massey University initiative, rallying a significant number of New Zealand investors – most of them from the Manawatu.

Massey University with the Manawatu Investment Group own a substantial proportion of Anzode and it is wonderful to see investors in the Manawatu now participating in what we intend will be many more offerings as the University develops its intellectual property for investment by thirdparty investors. Massey University would also like to congratulate our scientists who have invented this technology which has made this new battery possible.”

Two other New Zealand investment groups have contributed in this funding round: New Zealand Venture Investment Fund (NZVIF), and Auckland investment company K One W One.

MIG’s first investment was made in June this year, into Palmerston North-based beverage company Xenos, which is a BCC graduate.

BCC CEO Dean Tilyard says “Anzode is another example of the Manawatu region showing it has the science, people and now financial backing through the Manawatu Investment Group to take locally created innovations to the world market.”

Mr Tilyard added that “The Bio Commerce Centre and The Manawatu Investment Group are always interested in hearing from local companies with growth ambitions.”


© Scoop Media

Business Headlines | Sci-Tech Headlines


I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>


Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news