Halter raises $165m, company valued at $1.65b
New Zealand tech company Halter has raised $165 million from investors in its latest fundraising round.
Taupo-based low-carbon dairy company Miraka has its sights set on using 100% renewable energy in the next decade.
The dairy processor, New Zealand's second largest Māori-owned global export company, was the world's first company to use renewable geothermal energy in dairy processing.
Chief executive Karl Gradon says Miraka has always set lofty goals, and has set its sights on being fully powered by renewable energy in line with its core value, kaitiakitanga - caring for the natural environment and resources.
"We aspire to be 100% powered by renewable energy come 2030. Ninety three percent of our current energy already comes from renewable energy sources such as geothermal, so we are already most of the way there," he says.
Last September, Miraka launched New Zealand's first green hydrogen dual fuel powered milk collection tanker.
The 700 horsepower Volvo hydrogen-diesel tanker reduces on road carbon emissions by 35% per tanker which is the equivalent carbon reduction benefit of planting 1,600 trees annually.
"We've embraced innovation, another of our core values, to introduce green hydrogen into our operations and supply chain," says Gradon.
"This move has taken us a major step closer toward our aspirations of being fully powered by renewable energy. Any initiative which removes carbon emissions from the atmosphere is a good initiative."
The hydrogen is produced by Halcyon Power, a joint-venture of Obayashi Corporation of Japan and Tūaropaki Trust, a foundational shareholder in Miraka with its roots in the settlement of Mokai, 30km northwest of Taupō. The hydrogen plant is nearby to the Miraka dairy plant which also calls Mokai home.
The geothermal steam power which Miraka uses is also owned by Tūaropaki Trust. The steam is piped across the road from the Mokai Power Station to the Miraka plant. The remaining power goes to the national grid.
It is well known that in the dairy manufacturing process, spray drying - the process of removing water from milk to make powder - is hugely energy intensive, requiring vast amounts of power.
Miraka's use of renewable energy sources is world-leading and underpins the company's sustainability credentials. Miraka is a Certified B Corporation and Toitū carbon reduced certified - the globally recognised certifications endorsing the company's commitment to sustainability and social impact.
Labour's agriculture spokesperson Jo Luxton says while New Zealand needs more housing, sacrificing our best farmland to get there is not the answer.
Profitability issues facing arable farmers are the same across the world, says New Zealand's special agricultural trade envoy Hamish Marr.
Over 85% of Fonterra farmer suppliers will be eligible for customer funding up to $1,500 for solutions designed to drive on-farm efficiency gains and reduce emissions intensity.
Tighter beef and lamb production globally have worked to the advantage of NZ, according to the Meat Industry Association (MIA).
Groundswell is ramping up its 'Quit Paris' campaign with signs going up all over the country.
Some farmers in the Nelson region are facing up to five years of hard work to repair their damaged properties caused by the recent devastating floods.
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