Greenhouse Partners with GE For Low Carbon Challenge
Media release attached.
12 September 2012 MEDIA RELEASE –
FOR IMMEDIATE RELEASE
The Greenhouse Partners with GE For Low Carbon Investment Challenge Worth Up to $10 million.
Cleantech investment and advisory firm The Greenhouse today announced its partnership with global infrastructure technology and finance company GE in bringing the ecomagination Low Carbon Challenge to Australia and New Zealand. In collaboration with leading venture capital partners, GE has pledged funding of up to AUD$10 million to the competition, which aims to identify companies and individuals with breakthrough ideas for reducing our carbon footprint in Australia and New Zealand. Greenhouse director Duncan Stewart is part of the Evaluation Committee charged with selecting the winning entries based upon their innovative nature, their potential to create significant carbon emissions reduction and their overall commercial feasibility.
“The Greenhouse strongly believes in the role that innovation from entrepreneurs, academics, and forward-looking companies have in transitioning New Zealand to a low-carbon future,” says Stewart. “This is further confirmation that cleantech as an industry is attracting serious investor interest, and that New Zealand needs to develop strategies to keep up with the play. “Members of the New Zealand Cleantech & Environment Network (www.nzcen.com ) which we established last year will receive a personal invitation to participate.”
Prizes will be in the form of five AUD$100,000 innovation awards which will be given to entrants selected by GE, The Greenhouse and other competition partners, with an additional fund of up to AUD$10 million available to invest in qualifying projects.
Ben Waters, director of ecomagination for GE Australia and New Zealand, said: “We believe the transition to a low-carbon economy will drive significant growth in our market, ultimately spurring investment and opportunity for Australian and New Zealand businesses. “Through the ecomagination Challenge we’re looking to invest in local low-carbon technologies and work with local innovators to expand markets and growth opportunities through our networks, research capabilities and funding,” said Mr Waters. Greenhouse director Duncan Stewart said “GE’s ecomagination Challenge has so far invested more than $130 million in innovative investments that aimed to reduce household energy use and to increase efficiency in the electrical grid.
As New Zealand’s leading cleantech advisory firm, it is our pleasure to help foster further innovation in New Zealand through the Australia New Zealand Low Carbon Challenge.
The challenge is open for entries until Friday 30 November 2012.
Winners will be announced in early 2013 with the announcement of investments in the months following. Further information is available at http://challenge.ecomagination.com/anz