Two clean-tech investors, London-based ETI Dynamics and Auckland-based Greenhouse Capital, have joined forces to invest $100 million in exporting New Zealand clean technologies into India, Asia and Africa.
The partnership was announced at the pair’s first bi-annual clean tech investment forum in Auckland today, which included discussions with companies seeking funding for offshore growth. Greenhouse Capital will also be a key partner for one of eight regional cleantech innovation hubs that ETI Dynamics is setting up.
The partnership was a step forward for the kiwi cleantech sector and trade relationships with India, Greenhouse director Duncan Stewart said in a statement. He said ETI Dynamics had a large portfolio of projects in India and other regions could benefit from New Zealand’s technologies in this area.
ETI Dynamics has released a prototype solar electric hybrid scooter in India which can travel 50 kilometres on a single charge at a top speed of 45 kilometres per hour. The company has said it’s planning to extend the concept to auto-rickshaws, buses and golf carts.
In March, ETI Dynamics, whose technology and engineering hub is in India, participated in two roadshows in Auckland and Christchurch as part of a trade and investment delegation.
It’s website says it signed eight memorandums of understanding on that trip with various kiwi organisations including Lincoln University and the Canterbury Development Corporation.
It signed an MoU with Intelligent Green Energy NZ to develop utility-based and community oriented projects in New Zealand and the Pacific Islands in energy, drinking water, sanitation, and waste management. VR Power Dynamics, a joint venture between ETI Dynamics and VR Group, is also said to have signed an MoU with the Auckland company to provide green micro and mobile renewable energy solutions.
The website also said that ETI Dynamics develops infrastructure projects through extensive use of public private partnerships (PPPs) and Build-Own-Operate-Transfer (BOOT) deals. It had identified US$250 million of opportunities in New Zealand for such projects.
That included rooftop and off-grid solar power, hybrid marine energy systems, resource recovery from dairy and industrial waste, Smart City development, electrical vehicle transport services and charging networks, and LED lighting for local councils.