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

 

Algae Biofuel Developer Secures Investor

NZ MEDIA RELEASE

August 1, 2007


NZ Algae Biofuel Developer Secures Cornerstone Investor

Algae biofuel developer, Aquaflow Bionomic Corporation of Nelson has secured a cornerstone investment from one of Asia’s most active renewable energy companies, Pure Power Asia.

“Pure Power Asia brings a wealth of experience and a diversified range of expertise to the company. They have an established international network and are a good culture fit with Aquaflow. Pure Power Asia is on a major expansion path and it has the capacity to manage this rapid growth. We thoroughly enjoy working with them and they add significant value, “says Aquaflow director Vicki Buck.

Pure Power Asia is building a renewable energy business that spans the Asia Pacific region and is currently investing in a number of sustainable energy technologies that it plans to implement and operate across the region and beyond. The company’s operations headquarters are in Singapore and it also has an office in Hong Kong.

David Milroy, chairman and chief executive of Pure Power Asia remarked, “We are extremely optimistic about our investment in Aquaflow. The biofuels industry is at the dawn of a very exciting phase of developing renewable and sustainable energy sources from algae, and Aquaflow is leading the way with exciting breakthroughs in algae harvesting and conversion technologies.”

Aquaflow is currently looking to employ additional staff as it expands.


www.aquaflowgroup.com


ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Commerce Commission: Latest Broadband Report Confirms Improved Performance Of Premium Fibre Plans

The latest report from the Commerce Commission’s Measuring Broadband New Zealand programme shows that the performance of Fibre Max plans has improved substantially. This follows a collaboration between the Commission, its independent testing partner, ... More>>

Air New Zealand: Capital Raise Deferred

Air New Zealand has decided to defer its planned capital raise to later in 2021 allowing more time to assess the impacts of recent developments on the airline’s path to recovery. 'We’ve seen some clearing of COVID-19 clouds recently, with ... More>>

Commerce Commission: Cartel Conduct Now Punishable By Up To 7 Years’ Jail Time

Cartel conduct can now be punished with a term of imprisonment of up to 7 years, after the Commerce (Criminalisation of Cartels) Amendment Act 2019 came into effect today. Cartel conduct includes price fixing, market allocation and bid rigging (see ... More>>

Stats NZ: Auckland Population May Hit 2 Million In Early 2030s

Auckland’s population may rise from about 1.7 million currently to 2 million by early next decade, Stats NZ said today. “Auckland will likely have the highest average annual growth of New Zealand’s 16 regions over the next 30 years, from ... More>>


Stats NZ: March Card Spending Rebounds Despite COVID

There was a lift in retail card spending in March following a fall in the lockdown-disrupted February month, Stats NZ said today. Seasonally adjusted retail card spending rose by $53 million (0.9 percent), compared with February 2021. Visit our website to read ... More>>

PwC: Outcome Of Review Into Air New Zealand Gas Turbines Business

Air New Zealand has received the report into its Gas Turbines business from independent external advisers PwC. Air New Zealand Chairman Dame Therese Walsh says the report identified a range of effective controls in the Gas Turbines revenue contracting ... More>>

LPG Association: Renewable LPG Achieves Emissions Budgets With No Need To Ban New LPG Connections

Renewable LPG can supply New Zealand’s LPG needs and achieve the emissions reductions proposed by the Climate Commission without the need to ban new connections, a new study shows. The investigation, by leading consultancy Worley, was prepared for the ... More>>