Latest news with #Fonterra
Scoop
15 hours ago
- Automotive
- Scoop
$265 Million Private Capital Unlocked Through Low Emission Transport Fund
Businesses operating in New Zealand have committed around $265 million of investment in low-and zero-emissions transport projects – on road, off-road and on water – through the Low Emission Transport Fund (LETF) over the past decade. The programme, administered by EECA (Energy Efficiency and Conservation Authority), was revised in 2021, expanding the remit of its predecessor the Low Emissions Vehicle Contestable Fund (LEVCF), which launched in 2016. Projects approved for funding in the LETF's final rounds – 14, 15 and 16 – have been announced today. Richard Briggs, EECA's Group Manager – Delivery and Partnerships, said the LETF had unlocked an extraordinary amount of private capital for projects that would not have happened as quickly or at all, as well as lowered organisations' operating costs by improving energy efficiency and productivity. 'The programmes demonstrated the benefits for business in making the switch to low or zero-emissions vehicles, machines, and vessels, showing others in their sectors what's possible and viable.' Briggs said the rapid acceleration of energy-efficient transport technologies had reduced the risk for early adopters and the need for this type of support. As such, the LETF had wound down to a natural end. Milestone projects include the world's first electric milk tanker (Fonterra) and electric hydrofoil ferry in commercial operation (Vessev and Fullers 360). The fund supported New Zealand's first hydrogen-powered truck (NZ Post) and truck (Auckland Transport), first electric double-decker buses (Tranzit, Metlink, Greater Wellington Regional Council) and first electric supermarket delivery vans (Foodstuffs). The LETF also co-funded around half of New Zealand's 1300+ public EV chargers, with almost 700 more in the pipeline. These include the country's first high-speed DC chargers (ChargeNet). Briggs said EECA continued to support the heavy vehicle sector to improve its energy efficiency and lower operating costs through the Low Emissions Heavy Vehicle Fund, which offers grants of up to 25% of the purchase price of a new zero-emissions heavy vehicle, or 25% of the cost to convert an existing ICE vehicle to be power by zero or low-emissions technologies. EECA would ensure successful delivery of previously co-funded projects, as well as provide data on EV charging infrastructure and fuel use across the transport sector, Briggs said. 'EECA is New Zealand's lead agency and expert voice on energy use and we're continuing to evolve to ensure we're best placed to support the market.' A full list of approved projects for LETF rounds 14, 15 and 16 can be found below. Notes: LETF and LEVCF by the numbers 17 funding rounds across LEVCF and LETF, since 2016 359 contracts approved for funding $100,487,332 in government co-investment approved $265,466,603 in private capital committed. Approved projects for Low Emission Transport Rounds 14, 15, and 16 Round 16 approved projects Round 16 of the LETF launched on 3 February 2025 for Vehicles, Technology, Off-road and Marine. The round closed on 24 March 2025. EECA has approved five projects that would allocate co-funding of $469,159. Beacon Marine Limited, $23,100: Beacon Marine will partner with Pahi Oysters to demonstrate an electric motor on an existing oyster barge. Naut Limited $191,206: Naut will partner with an aquaculture business to demonstrate a fully integrated electric vessel, offering a low-emission alternative for an industry that has traditionally depended solely on internal combustion engines (ICE). Cascade New Zealand Limited, $60,403: Cascade New Zealand will demonstrate electric forklift attachments as an alternative to hydraulic options which requires significantly less energy to operate. When used on an electric forklift, the energy reduction will enable less power usage and longer cycle time. 3i OPCO Limited, $160,150: 3I OPCO will demonstrate an electric excavator which will work within the holds of vessels to unload cargo. Beacon Marine Limited, $46,300: Beacon Marine with partner with Explore Group will demonstrate an inboard electric conversion of their America's Cup tour experience boat from diesel propulsion to a fully electric system. Round 15 approved projects Round 15 of the LETF launched on 18 November 2024 for Ports. The round closed on 10 February 2025. EECA has approved five projects that would allocate co-funding of $1,630,742. Lyttelton Port Company Limited, $333,392: Lyttelton Port Company will demonstrate shore to ship power by upgrading electrical infrastructure on LPC's inner harbour jetties to provide shore power to visiting vessels and accurately track energy usage and emissions reductions. CentrePort Limited, $350,000: CentrePort will demonstrate a system that can control how and when electricity resource is consumed. It will unlock electricity supply capacity to enable electrification of CentrePort's heavy electric vehicles fleet to continue without triggering wider network reinforcement. Port of Tauranga Limited, $447,000: Port of Tauranga will test an electric straddle carrier at Port of Tauranga to examine its feasibility in a New Zealand port context. Otago Port Limited, $343,000: Otago Port will deliver emissions reduction by separate vertical and horizontal container movement associated with long distance port terminal container flow using straddle carriers. Lyttelton Port Company Limited, $157,350: Lyttleton Port Company will replace a diesel sweeper truck, which operates at multiple Port locations, with a battery electric vehicle (BEV) equivalent. The project will demonstrate how the electric sweeper can operate efficiently for a full work shift and how its operation impacts battery performance and operational productivity. Round 14 approved projects Round 14 of the LETF launched on 29 July 2024 for Vehicles, Technology, Off-road and Marine. The round closed on 9 September 2024. EECA has approved 12 projects that would allocate co-funding of $2,198,620. Etrucks Limited, $20,000: Etrucks will import and demonstrate an E1400 Windrose long-range electric truck. The E1400 has a loaded range (49t) of 670km. The truck will come equipped with MCS and CCS2 charging. Port Napier Limited, $302,000: Port of Napier will demonstrate autonomous battery-electric container terminal tractors (ABECTTs) and a battery-swap charger in their port operations. ContainerCo (NZL) Limited, $232,000: ContainerCo will replace a single empty container handler with a fully electric version to demonstrate that the current diesel empty handlers could be entirely replaced with electric handlers. Seeka Limited, $27,000: Seeka will demonstrate two custom-designed electric ATVs for use under kiwifruit canopies, reducing emissions, improving safety, and cutting operational costs while aligning with sustainability goals through reduced fuel and maintenance expenses. Lyttelton Port Company Limited, $252,000: Lyttelton Port Company will demonstrate replacing a diesel empty container handler with a battery electric equivalent. Green Pacific Shipping Limited, $500,000: Green Pacific Shipping will demonstrate a 30-passenger electric foiling ferry built by Candela to operate between Auckland, Coromandel and Waiheke. Being transportable, including its charging equipment, it will be available around New Zealand for demonstration and trial by other potential users. Change Fuel Technologies Limited, $97,000: Change Fuel Technologies will build and demonstrate a hydrogen refuelling vehicle which can supply hydrogen to off-road vehicles. Rotorua Forest Haulage Limited, $20,000: Rotorua Forest Haulage will work with Scania NZ to demonstrate a fully electric truck that can operate on New Zealand roads at HPMV weights of 54T. Action Manufacturing, $132,000: Action Manufacturing will demonstrate a 100% electric refrigerated semi-trailer. The technology represents a step forward for trailer refrigeration. D&H Equipment Limited, $242,000: D&H Equipment alongside Ballance Agri-Nutrients will demonstrate a 20-tonne electric wheel loader in their fertiliser plant. This will test the suitability of electric off-road equipment in a highly corrosive fertiliser environment. Kwetta Limited, $239,600: This project aims to demonstrate how Kwetta's 'grid first' innovation can unlock and optimise existing network infrastructure for EV fast charging, by piloting Kwetta's dynamic flexibility grid service. United Civil Limited, $135,020: United Civil Construction will demonstrate their first fully electric 4-tonne excavator in Northland and Napier. This size excavator is widely used across many sectors and the project will demonstrate its use case across two regions.
NZ Herald
16 hours ago
- Business
- NZ Herald
GDT: Dairy prices up 1.1%, cheddar drops 5.6% in latest event
Global Dairy Trade prices have rebounded 1.1% after four consecutive declines. Photo / Duncan Brown Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech. Access to Herald Premium articles require a Premium subscription. Subscribe now to listen. Global Dairy Trade prices have rebounded 1.1% after four consecutive declines. Photo / Duncan Brown Prices are up in the latest Global Dairy Trade auction, held overnight, with a 1.1% increase across the board. While it is a slight rise, it is welcome news after a 4.1% drop at the previous event two weeks ago, which was the largest decline this calendar year. It also breaks a negative streak of four consecutive price drops. Whole milk powder, which has the biggest impact on Fonterra's farmgate milk price, lifted 1.7% to an average of US$3928/MT. At the last event, it plunged 5.1%.
NZ Herald
6 days ago
- Business
- NZ Herald
NZ sharemarket steady as Australian regulator clears path for Fonterra consumer arm sale
The NZ sharemarket was virtually flat today, while the Australian competition regulator gave some good news to a potential buyer of Fonterra's consumer business. On the main board, the S&P/NZX 50 Index closed down 0.07% or 8.409 points, falling to 12,760.20, with 29,064,025 shares changing hands to the value of
RNZ News
6 days ago
- Business
- RNZ News
Finance Minister questions Fonterra over price of butter
The eye-watering price of butter has prompted Finance Minister, Nicola Willis to ask for a please explain from her former employer Fonterra. Checkpoint has run numerous stories about the cost of the pantry staple, with the price climbing as high as $18 for a tub of semi-soft butter. Fonterra has pinned the price of dairy products here on the global dairy trade auction price, but Willis has questioned why people overseas are getting a better deal. Farmer and former Fonterra Board member Leonie Guiney spoke to Lisa Owen.
RNZ News
6 days ago
- Business
- RNZ News
Australian regulator not opposed to Lactalis buying Fonterra's Mainland Group
File image. Photo: RNZ / Cole Eastham-Farrelly Australia's competition regulator will not oppose a move by French dairy giant Lactalis to acquire Fonterra's consumer, dairy ingredients and food services businesses. Lactalis lodged an informal merger clearance application with the Australian Competition and Consumer Commission (ACCC) earlier this year. ACCC deputy chair Mick Keogh said it reviewed the potential transaction "very closely" as it would combine two of the biggest buyers of raw milk in Victoria, and may lead to further consolidation in Tasmania. "While we acknowledge the concerns raised by some representative bodies, after careful consideration we have determined that the acquisition is unlikely to result in a substantial lessening of competition," he said. The ACCC said alternative buyers of raw milk would be found in Victoria. "We found that while the industry in Tasmania is already concentrated, Lactalis has a limited presence and the acquisition would not substantially alter the market dynamics. If the acquisition proceeded, Lactalis would continue to be constrained by Saputo and, to a lesser extent, Mondelez," Keogh said. The ACCC also said a deal was unlikely to substantially lessen competition in wholesale dairy supply, such as drinking milk, cream, cheese, spreads and ingredients like milk powder. Australia's Bega Cheese - backed by billionaire Andrew Forrest - has also made contact with the ACCC over a potential deal. Keogh said the ACCC has not received contact from any other potential bidders. Forsyth Barr senior analyst Matt Montgomerie said Lactalis appeared to be the front-runner for Mainland Group, but the ACCC announcement was not an indication of whether Fonterra would accept Lactalis' bid. "News flow from other interested parties rumoured over recent months (Meiji, American private equity, Saputo and Bega) has been quiet," Montgomerie said.
