Two sustainable manufacturing businesses, Techlam in Levin and Plentyful in Rangitikeī, will receive investment from the Government’s Regional Strategic Partnership Fund (RSPF), Economic and Regional Development Minister Stuart Nash announced today.
Techlam, a company that manufactures sustainable timber, will receive up to $1.75 million to procure and install machinery for reducing manufacturing landfill by up to 25%, and capturing off-cut timber pieces for converting into heat energy.
Plentyful, a company that creates sustainable plastic products, will receive up to $2 million to begin developing a high-class manufacturing facility in Marton. This funding will go towards the construction of the factory building, mixing and holding tanks, and the installation of specialised equipment.
“The investment criteria we set up in the RSPF has innovation and sustainable at its heart. Both Techlam and Plentyful are paving the way for sustainability in the high-tech industry with their cutting-edge, environmentally-friendly manufacturing processes,” Stuart Nash said.
“From framing for houses to paper packaging for pies, there are so many products that can be made more sustainably, and with a better fit for the circular economy, and these companies are at the forefront of this sector-wide shift.
“The RSPF is all about regional economic development, and these world-class Manawatu-Whanganui businesses are further proof that innovation doesn’t have to come from big cities or huge research institutions.
“Investing into Plentyful and Techlam will not only support local job creation and the development of sustainable products, but will also help these regional businesses export to new international markets.
“These projects align with the regional priorities of Manawatū-Whanganui, in particular fibre production and specialised manufacturing, as well as with the wider Government strategy to develop a low-emissions, highly-skilled economy, while making our regions stronger and more resilient,” Stuart Nash said.
· The investment into Techlam will be a loan of up to $1.75 million; investment into Plentyful will be up to $2 million as a loan and/or equity depending on ongoing negotiations.
· The investment into Techlam will support the purchase of a new acoustic grading line, a Chop Saw line for defecting, and a new Finger Jointer.
· The investment into Plentyful will support the manufacturing of PHBV bioplastics-coated paper packaging products, replacing the current paper packaging process (which typically have an oil-based plastic liners) with a compostable and marine biodegradable alternative.
· All approvals are in principle and subject to contract negotiations. Investment values are also subject to change.
· These are the fifth and sixth allocations from the Regional Strategic Partnership Fund (RSPF), administered by Kānoa–Regional Economic Development and Investment Unit within MBIE.