New Zealand Green Investment Finance CEO says IoT sector will grow.
New Zealand Green Investment Finance, an investment bank established by the Crown to accelerate green business, has invested $1.1 million in Australian IoT device maker Thinxtra.
The NZGIF was set up in December 2018 with initial capital of $100 million, and operates as an independent limited liability company.
Chief executive Craig Weise said the Internet of Things (IoT) as a sector would grow in New Zealand and Thinxtra was well positioned to benefit as a result.
“Thinxtra’s technology is a key component of the wider IoT system and has significant potential emissions reductions using low cost, low energy devices and an
About half the $100m allocated to NZ Green Investment Finance has been invested so far.
The government is considering increasing its investment in New Zealand Green Investment Finance, with the fund having committed about half of its initial startup capital of $100 million.
So far, the green investment fund has announced one loan and three investments worth $24.6 million but two more investments are due to be announced in the next couple of weeks. It is likely those two new investments, one of which will be in distributed energy, will be worth about $25m.
NZGIF chief executive Craig Weise said about half of the $100m was now committed.