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  • 08 Aug 2024 11:02 AM | Mike Hearn (Administrator)

    The search for a proof-of-concept vaccine that can cut methane emissions in cattle has received a welcome boost.

    The Bezos Earth Fund has announced it will fund an international consortium which will build scientific evidence for a vaccine that can reduce the number and activity of methane-producing microbes in a cow’s stomach.

    The $USD9.4 million research project will be led by researchers at The Pirbright Institute and the Royal Veterinary College.

    AgResearch will add expertise in rumen microbiology and vaccine development to the consortium and receive about a third of the funding allocation.

    AgResearch Principal Scientist Neil Wedlock said: “This funding announcement is a welcome boost for methane vaccine research. We are excited to be collaborating with the Pirbright Institute and will provide our research expertise and capability.

    “The work will also complement the research we are doing here in New Zealand with the backing of AgriZeroNZ and the New Zealand Agricultural Greenhouse Gas Research Centre.”

    AgriZeroNZ is setting up a new venture in New Zealand to accelerate development of the vaccine, building on more than 15 years of pioneering science led by AgResearch and funded by the New Zealand government, industry and through the New Zealand Agricultural Greenhouse Gas Research Centre.

    The new venture aims to catalyse more of these types of global collaborations and international funding to accelerate scientific progress and get a vaccine into the hands of farmers sooner.

    Dr Wedlock said: “This latest international funding announcement shows how important the work is and what might be achieved with international collaboration.”

    The project comprises two key components, each tackling different aspects of the challenge:

    1. Early Development of Immune Response:

    Researchers at the Royal Veterinary College, in collaboration with Consejo Superior de Investigaciones Científicas (CSIC), will study how and when methane-producing microbes (methanogens) colonize the digestive tract of calves and how the immune system responds. Advanced techniques such as multi-omics, histology, and immunology will be used to gain insights into these early interactions. They will also develop methanogens with fluorescent markers to track microbial interactions.

    1. Antibody Response and Vaccine Development:

    Scientists from the Pirbright Institute and AgResearch will identify and characterise specific antibodies needed to target methanogens effectively. This involves isolating antibodies from immunized cattle and testing their effectiveness in lab conditions. By driving cross-reactive antibody responses and generating panels of antibodies, researchers aim to establish a proof of concept for a methane vaccine.

    To read the full press release from the Bezos Earth Fund click here:

    About the Bezos Earth Fund

    The Bezos Earth Fund is helping transform the fight against climate change with the largest ever philanthropic commitment to climate and nature protection. Jeff Bezos has committed $10 billion in this decisive decade to protect nature and address climate change. By providing funding and expertise, we partner with organizations to accelerate innovation, break down barriers to success and create a more equitable and sustainable world. Join us in our mission to create a world where people prosper in harmony with nature.

    About AgriZeroNZ

    AgriZeroNZ is a world-first public-private joint venture focused on helping farmers cut emissions while maintaining their competitive edge. Established on 1 February 2023, the JV is half owned by the New Zealand government through the Ministry for Primary Industries and the other half owned by private sector companies – The a2 Milk Company, ANZ Bank New Zealand, ANZCO, ASB Bank, BNZ, Fonterra, Rabobank, Ravensdown, Silver Fern Farms and Synlait. Private sector funding is matched by Government, dollar-for-dollar, to provide $191 million over AgriZeroNZ’s first four years.

    Click here for more information about our work to accelerate the vaccine development.

    Source:  AgResearch

  • 08 Aug 2024 10:48 AM | Mike Hearn (Administrator)

    Fiji Airways’ new route will connect travellers with an additional 247 destinations through one of the busiest travel hubs in the world.

    Fiji Airways has today announced the introduction of the first ever non-stop flights between Nadi, Fiji and Dallas Fort Worth International Airport in Texas, USA commencing in December 2024*.

    The new non-stop 13-hour service will operate three times per week every Tuesday, Thursday, and Saturday utilising Fiji Airways’ state-of-the-art Airbus A350-900 XWB aircraft. The aircraft will feature 301 economy class seats, which recently won Best Economy Class in Australia and Pacific at the SKYTRAX World Airline Awards 2024, and 33 business class lie-flat, all aisle access, seats.

    The inaugural flight is scheduled to depart on 10th December 2024, with special introductory fares now available for purchase on the Fiji Airways website at fijiairways.com. 

    Speaking on the new route, Fiji Airways Chief Executive Officer and Managing Director, Andre Viljoen said “Introducing a direct service between Fiji and Dallas is a really exciting milestone for Fiji Airways, as we continue to increase Fiji’s connectivity with the United States and beyond offering our guests more travel options.”

    The new service to Dallas will complement various other initiatives announced by the airline recently, including its plans to join the American Airlines’ AAdvantage® loyalty program in the coming year and becoming the 15th full member of the oneworld alliance in 2025. 

    “The new Fiji-Dallas service is set to bring more than 1,000 passengers a week into Fiji alone, helping to bolster the nation’s tourism industry. The overnight flight will also offer our customers increased connections to North America from the South Pacific and beyond” said Viljoen. 

    To celebrate the announcement, Fiji Airways has launched special introductory return airfares from Nadi, Fiji to selected points in Texas, starting from just FJD1,699. Fares are now available for purchase on the Fiji Airways website at fijiairways.com (terms and conditions apply – see website for details). 

    Fijian Deputy Prime Minister and Minister for Finance, Strategic Planning, National Development and Statistics, Hon Professor Biman Prasad, expressed his enthusiasm for the announcement, stating “Fiji Airways’ new direct route to Dallas is an exciting development for Fiji and will help pave the way for expanded opportunities in tourism and trade between our two nations. Dallas has immense potential as a new source market for Fiji’s tourism industry, with DFW International Airport currently ranked the third-busiest airport in the world and the state of Texas home to some of the fastest-growing counties in the United States.”

    Dallas will be Fiji Airways' 24th international direct destination and will be the fifth North American port served by the airline, along with Los Angeles, San Francisco, Honolulu and Vancouver. 

    * Flights to, from or via Dallas are subject to US Government regulatory approvals.

    Source: https://www.fijiairways.com/

  • 05 Aug 2024 10:39 AM | Mike Hearn (Administrator)

    Respected sailmakers will sit alongside other NTG brands, including North Sails and Southern Spars.


    North Technology Group (NTG) continues to expand its family of best-in-class marine brands by adding two of the world’s most respected sailmakers, Doyle Sails and Quantum Sails.

    As part of NTG’s diverse portfolio of world class businesses operating across the sailing and ocean lifestyle industries, Doyle and Quantum will continue to operate independently, retaining their unique brand identities and competing for market share. Each business will continue to manage its own lofts, sales and marketing teams, and product suites. The NTG ownership structure will provide each brand with the freedom, financial security, and resources to continuously improve and offer better experiences for sailors.

    NTG CEO Sam Watson said: “North Technology Group is passionate about the sailing industry, and with big ambitions and a relentless drive we are continuously evolving. We see a real opportunity for growth and development by bringing Doyle Sails and Quantum Sails into the NTG family. We look forward to welcoming their customers and our new colleagues on this journey.”

    Quantum Sails President Ed Reynolds said: “At Quantum, we’ve always focused on providing the best-performing products and customer service in sailing. We have a rich history in the industry and our sails have donned some of the most premier boats in sailing.  We look forward to working within the NTG family to help sailors at all levels to continue enjoying the sport they love.”

    Doyle Sails CEO Mike Sanderson said: “After eight years at the helm, the decision for Doyle Sails to combine forces with NTG was a ‘no-brainer’ for David Duff, Richard Bouzaid and me. It ensures the longevity of the brand we are so committed to; it will keep challenging innovation in sailing, and it brings significant opportunities for our team, sailors, and customers. I could not be more excited about leading Doyle Sails into the next chapter and chasing the next challenge.”

    NTG Chairman Peter Dubens said: “NTG are long-term supporters of sailing. We want to grow the sport by investing in skills and innovation, by supporting new technologies in sailmaking, and by committing to accomplishing all this in a sustainable way. In Doyle and Quantum, we have found two brands and businesses that support our values and goals. We’re pleased to be partnering with Mike, Ed, and their teams, as we work together to promote the future of the sport we love so much.”

    Quantum Sails will continue to be led by Ed Reynolds and Andrew Scott, and Doug DeVos will remain involved in the business, and as an investor in NTG. Mike Sanderson will continue to lead Doyle Sails.

    About NTG
    North Technology Group (NTG) began its journey in 1957 when Lowell North started North Sails in his San Diego garage. NTG evolved over time as like-minded marine companies were combined into a diverse family of brands serving marine performance and ocean lifestyle markets worldwide. Built on a foundation of advanced performance, superior technology, quality craftsmanship, and exceptional customer service, NTG Brands encompass a wide range of companies including North Sails and Southern Spars.

    About Quantum Sails
    At Quantum, we’re connected to sailors everywhere through our love of sailing and our belief that facing every challenge head-on is infinitely rewarding. For us, that means challenging convention – especially if that’s what it takes to help our customers and the sailing industry get to new, better places. As a company and as individuals, we embrace every single challenge you bring our way as our own. Since 1996, we have focused on providing the best-performing products in sailing. Today, we’re equally relentless about delivering a higher standard of service, customer care, education, support and mentorship. It’s how we’ll continue to help sailors at all levels pursue their passions and achieve their aspirations. Our commitment starts with our dedicated employees at more than 60 sail lofts around the world and includes hundreds more working behind the scenes to design, build and service Quantum sails. www.quantumsails.com

    About Doyle Sails
    Doyle Sails is widely recognised as the changemaker in sailing, challenging all aspects of conventional sailmaking and continuing to deliver game changing technologies that support growth and progression for all sailors. Renowned for impeccable attention to detail and design, a personal, bespoke approach and world class construction quality, Doyle Sails holds a key role as the preferred sailmaker to many, including some of the world’s most spectacular Superyachts and high-performance Grand Prix campaigns. Doyle Sails is proud to have been supporting sailing and sailors for more than four decades and while the world changes around us, our commitment to sailors who share the same passion for sailing as we do, hasn’t. www.doylesails.com

    Source: https://www.northtechnologygroup.com/

  • 01 Aug 2024 11:19 AM | Mike Hearn (Administrator)

    Avnet and MACSO Technologies have entered a strategic relationship to accelerate and scale IoT deployments for customers worldwide by advancing artificial intelligence (AI) models on hardware and electronic components through Avnet’s IoTConnect Partner Program.

    Auckland based MACSO trains advanced artificial intelligence models that can simultaneously use different types of sensors on Avnet’s components.

    “MACSO is making hardware smart by putting AI models on it,” said MACSO founder and CEO Saba Samiei. “It’s like a CCTV camera directly notifying you if an intruder is going up a flight of stairs instead of watching people and requiring a human to go back and watch a video to make decisions. We are trying to make sensors smart.”

    In the short term, MACSO’s AI is focusing on audio and air quality. As the platform grows, other capabilities such as vision, temperature and pressure can be added.

    “The problem is that unless you have a good technical understanding of AI, creating models is very hard,” Samiei says. “What we are doing is building AI models and licensing them, so we are taking all that heavy lifting off the customer – all they do is subscribe to the AI models and pay for the subscription.”

    Avnet is extending the value of distribution to make IoT accessible and scalable for original equipment manufacturers (OEMs) by providing hardware, software and engineering/consulting/cloud services.

    “Our customers are exploring the use of AI-enabled devices to improve data-driven business outcomes. Our collaboration with MACSO will enable fast deployment of these systems leveraging AI,” said Avnet’s Senior Director, Supplier Technology Enablement, Jennifer Skinner-Gray.

    Avnet’s IoTConnect Partner Program enables OEMs and independent design houses (IDHs) to build new solutions and service models for their practice using Avnet’s IoTConnect platform. Avnet’s knowledge of the edge along with the significant investment in cloud, digital and software services coupled with the members of the IoTConnect Partner Program allow Avnet to collaboratively leverage solutions to scale and maximize opportunities.

    Story by Dave Crampton  https://nzentrepreneur.co.nz/

  • 31 Jul 2024 12:57 PM | Mike Hearn (Administrator)

    In what is being called a silent epidemic, New Zealand is inadvertently discouraging expat Kiwis, as well as high-contributing and investment-ready migrants from staying here, a new report by the New Zealand Institute of Economic Research (NZIER) shows.

    The report called The place where talent does not want to live, has been commissioned and supported by the Auckland Chamber of Commerce, the American Chamber of Commerce, the NZUS Council, the Edmund Hillary Fellowship, as well as key individuals, to shine a light on how New Zealand’s international tax requirements are actively working against our migrant attraction policies and programmes – as well as discouraging Kiwis with much needed skills from coming home.

    Under New Zealand’s current international tax rules, some expat Kiwis returning to New Zealand as well as other migrants are taxed by New Zealand on the investments they made before coming here. The rules impose New Zealand tax on the paper value of those investments, even if they are still in start-up phase and not making any income. The regime, called the Foreign Investment Fund (“FIF”) rules, is out of step with the rest of the OECD and does not match New Zealand’s aspirations (and need) to attract and retain global talent and investment.

    Simon Bridges from the Auckland Chamber of Commerce says: “Immigration and tax are two of the most powerful policy levers available to influence the economic and social progress of a nation. New Zealand has the ability to attract the world’s brightest – we already have evidence of that. But we are shooting ourselves in the foot. The fact that our current international tax regime is working against our immigration settings means we are not getting the full return on investment from all our attraction programmes – and most importantly we are not retaining their skills, talent, investment and innovation.”

    Rob Coneybeer, a Managing Director and Founder of US-based early-stage venture capital firm Shasta and himself a migrant, says he hates to see New Zealand hold itself back. “A robust startup tech ecosystem has been the key driver for economic growth in the US and China, and it can do the same for New Zealand. It is the cleanest industry imaginable, and the fact that New Zealand is an amazing place to live represents an enormous untapped advantage for recruiting top tech talent. But that doesn’t work if the New Zealand tax system is discouraging people from staying.”

    Peter Wilson from NZIER says the part of the tax system causing issues was designed 40 years ago to protect the domestic tax base from exploitation through the use of tax havens and removing tax-driven incentives to invest offshore rather than at home.

    Jonathan Mason from the NZUS Council and the American Chamber of Commerce said “While that policy was right for the time, it is no longer fit for purpose in a more globalised world, where there is fierce and increasing competition to woo talent. It is holding us back as a nation. We are calling for a review of NZ’s international tax requirements to pull them into line with other jurisdictions and make New Zealand the place where talent chooses to live.”

    A recent IMF report has also noted that NZ would benefit from a more efficient, equitable, and sustainable tax system. New Zealand already has one of the most efficient goods and services tax systems globally. However, tax policy reforms are needed to promote investment and productivity, and mobilise additional revenue.

    Rosalie Nelson, Chief Executive of the Edmund Hillary Fellowship, which consists of 500+ New Zealand and international entrepreneurs, says a significant issue for Fellows is the severe negative consequences of the current FIF regime. “It creates an insurmountable unfair burden for the most talented Kiwis to return to New Zealand, as well as for first-time talented migrants who are adding huge value to this country. An obscure bit of taxation law is preventing the type of high contributing, investment-ready immigrants this country says it wants to attract from relocating to New Zealand – and this new report provides the evidence as to why aligning immigration and tax policy will benefit all of New Zealand.”

    You can view the full report here: www.nzier.org.nz/publications/the-place-where-talent-does-not-want-to-live

    For media queries contact: Kelly Ley-Dahm, 021 539 533, media@ehf.org

    Note for journalists:

    The double taxation problem arises because the Double Taxation Agreement (“DTA”) between the US and New Zealand focuses on credits for “like-for-like” taxation. Since New Zealand is an outlier with FIF taxation, this means that FIF payments cannot be credited against an eventual capital gains tax bill in the United States. Most OECD countries, such as Australia, do not face this issue.

    The NZIER report shows that addressing the issues in the current international tax regime will not have a significant impact on the tax take. An estimate based on publicly-available information shows the annual contribution from the current Foreign Investment Fund tax regime is only around 0.5% to 1.0% of IRD’s total annual revenue. (Noting that without non-public information from the IRD it is not possible to make a reliable estimate.)

  • 31 Jul 2024 11:27 AM | Mike Hearn (Administrator)

    The number of flight delays or cancellations could plummet within the next few years, thanks to a transtasman information-gathering exercise getting under way from space.

    Two 11m satellite dishes in Invercargill, which will collect data used to improve GPS (Global Positioning System) accuracy, have just been switched on by Land Information Minister Chris Penk.

    While the benefits are expected to be wide-reaching – ultimately enabling the automation of vehicles – they’ll be particularly visible to air travellers.

    More accurate mapping will enable pilots to fly planes closer to runways, helping them land in bad weather currently deemed too dangerous to navigate.

    Airways regulatory assurance manager Mark Blanchard said the advancement would be particularly useful for smaller, regional airports that don’t already have the technology used by Auckland, Wellington and Christchurch Airports to help planes take off and land when visibility is low.

    Longer-term, the technology could replace existing ground systems used at larger airports, which have limited lifespans.

    Blanchard believed the technology could ultimately be a more cost-effective solution for airports.

    He expected new, more accurate systems to be ready to go by 2027 or 2028. From there, it would be up to individual airports to decide whether to use them.

    The broader satellite project, known as the Southern Positioning Augmentation Network (SouthPAN), is a collaboration between the New Zealand and Australian governments - specifically, Land Information New Zealand and Geoscience Australia.

    The New Zealand Government will contribute $781 million to the programme over 19 years, covering a quarter of its cost.

    It is expected to improve GPS accuracy from 5m to 10m, down to less than 1m – and in some cases to as little as 10cm.

    The technology is already used in the United States, Europe, Russia, Japan and India.

    “Only a few weeks ago, winter weather conditions caused widespread flight cancellations, underscoring the need for modern digital infrastructure to support the safe movement of people, as well as goods and services,” Penk said.

    He noted how other sectors, including agriculture, forestry and construction would also benefit from the technology.

    “New Zealanders use GPS services every single day for everything from ordering food to navigating the city streets. GPS information is also used for critical technical applications like co-ordinating an emergency response and air traffic control,” he said.

    An EY report estimated SouthPAN could contribute $864m to the New Zealand economy over 20 years, through productivity-enhancing and labour-saving applications, such as better resource management, more accurate maritime activities and real-time livestock monitoring through digital fencing tools.

    “It is expected this figure could grow as new technologies and innovations are developed to harness SouthPAN’s possibilities,” Penk said.

    While some SouthPAN services are already free and available to consumers, the remainder of the network will be established over the next three years.

    Source: https://www.nzherald.co.nz/

  • 27 Jul 2024 4:30 PM | Mike Hearn (Administrator)

    One NZ Warriors Grabaseat charter flight launched for NRL opener in Las Vegas

    ·       Package includes flights, accommodation, and game tickets from $4,999

    ·       On sale from 11am today 

    Warriors fans will be able to fly non-stop to Las Vegas to support the team next year with Air New Zealand's Grabaseat launching a special one-off charter flight between Auckland and Las Vegas.

    The Economy package starts from $4,999 and is stacked. With return flights, five nights' accommodation at The Park MGM, tickets to watch four games of rugby league (including the One New Zealand Warriors vs. the Canberra Raiders), and the promise of an incredible time, it's an opportunity too good to miss.

    The flight, named NZ1995 in a nod to the Warriors' inaugural year, is set to be a full house, hosted by Warriors superfans Dai Henwood and Ben Hurley. The direct service will depart for Las Vegas on 25 February 2025, returning to Aotearoa on 4 March 2025.

    Air New Zealand Chief Customer and Sales Officer Leanne Geraghty says the airline is expecting the one-off deal to fly out the door, so fans should play their cards right and get in quick.

    "We all know Wahs happens in Vegas, stays in Vegas, so fans won't want to miss the opportunity to jump on board and experience the magic of the Warriors among the bright lights of Las Vegas.

    "The package means all the planning is done for fans. With five nights to explore the city, accommodation included, game day tickets, and a special fan function, it's the perfect chance to take a bet on the boys to win big in Vegas.

    "The trip will kick off with a Warriors-themed flight, celebrating all things Wahs with giveaways and activities onboard. We're anticipating the offer will be snapped up fast so if you want to avoid missing the getaway of a lifetime, hedge your bets and get in quick."

    One NZ Warriors CEO Cameron George says the flight is a tremendous opportunity for fans to be a part of history.

    "Everyone knows how amazing our supporters are. They prove it week in, week out, no matter where we play.

    "Now they have the opportunity to be part of what's certain to be a truly special experience in Las Vegas."

    The Grabaseat Warriors package will go on sale at 11am today at www.grabaseat.co.nz. Seats are strictly limited.

    Package includes:

    ·       Return flights from Auckland to Las Vegas with Air New Zealand

    ·       Tickets to watch four rugby league games (one featuring the One New Zealand Warriors)

    ·       Five nights' accommodation at The Park MGM

    ·       Return airport transfers in Las Vegas

    ·       Fan function

    ·       Activities and giveaways onboard

    Package rates:

    ·       Economy from $4,999

  • 26 Jul 2024 4:05 PM | Mike Hearn (Administrator)

    EV Maritime, New Zealand’s leading electric ferry design and technology company, announced today it has been commissioned by Angel Island Tiburon Ferry (AITF) to design an all-new hybrid electric vessel for the fleet. The progressive project, which will see the electrification of two existing vessels and the construction of a third new plug-in hybrid vessel, has been funded by the California Air Resources Board (CARB). The hybrid vessel will be designed and engineered by EV Maritime with electrical integration provided by ZeroMar, a local company in the Bay Area.

    This project builds on EV Maritime’s current project to introduce electric fast ferries to the commuter ferry fleet in Auckland, New Zealand: a project directly supported by the central government there. This project will be EV Maritime’s first on U.S. soil and an important marker in cleantech collaboration between the two nations. Marking the importance of this milestone, the signing of the contract, held on July 12th at a special ceremony on the San Francisco waterfront, was attended by senior elected officials from the San Francisco area, the Prime Minister of New Zealand, Rt Hon Christopher Luxon, and the New Zealand Ambassador to the United States H.E. Rosemary Banks.

    AITF currently operates three vessels providing ferry service between Tiburon and Angel Island, as well as private charters, whale watching and sunset cruises. Angel Island State Park is the largest natural island in the San Francisco Bay and a popular destination for hiking, biking and picnics. Owned and operated by fourth-generation charter captain Maggie McDonogh, AITF was founded by her father Milton in 1959. The McDonogh family has a rich history tied to the waters of the San Francisco Bay dating back to the late 1800’s. Over the years, AITF has earned its place as a piece of San Francisco and California history and demonstrated unwavering commitment to community service. Now Captain Maggie McDonogh, in collaboration with EV Maritime, is making the groundbreaking move towards sustainability and environmental responsibility with the design and implementation of their new hybrid vessel.

    “This is a very exciting project, and we are looking forward to working with Maggie and her team,” said Michael Eaglen, CEO of EV Maritime. “As a provider of transportation to a State Park, and a host to numerous visitors to the Bay, Angel Island Tiburon Ferry is already conscious their leadership role. This project will be a powerful example for others to follow.

    “This new vessel will be plug-in hybrid, able to operate fully electric on shorter routes but with hybrid capability for longer range service. By using EV Maritime’s efficiency-optimized hull form and carbon fiber composite construction, this plug-in hybrid vessel will dramatically reduce fuel consumption and exhaust emissions. We are proud to serve as AITF’s design partner for this landmark project.

    “One of the core values of EV Maritime is not just to electrify vessels, but to spread the understanding that electric ferries can be a more attractive, more reliable and more accessible form of public transportation,” continued Eaglen. “We maintain our commitment to decarbonizing every harbor in the world by starting with ferries, and we are delighted to have AITF as an ambassador for electrification in the San Francisco Bay.”

    “I am truly excited by the opportunity to work with EV Maritime and to bring their remarkable designs to California,” said Maggie McDonogh, Captain and Owner, Angel Island Tiburon Ferry. “It was very fortuitous to meet Michael at a ferry conference that he was presenting at; he is a remarkable person and I am positive that this will be an enduring relationship. As a fourth-generation captain, and as a woman-owned micro business in a small town we are so fortunate to have this opportunity. I can’t thank EV Maritime enough, and the countless others that made this possible, for making this project a reality.

    “We are located on the coast, and strongly believe that what we do here affects everything inland,” continued McDonogh. “Not only is going electric the right thing to do, I see it as our moral obligation to preserve the environment for future generations. Converting our existing boats, which are still fully serviceable, is a no-brainer effort with a low carbon footprint. As for the boat we are building, I am confident that this new vessel packed with cutting-edge electric technology will stand as a shining example of what is possible.”

    For more information on EV Maritime, visit evmaritime.com.

    For more information on Angel Island Tiburon Ferry, visit angelislandferry.com 

    About EV Maritime: EV Maritime is a clean-tech design, integration and technology company specializing in the inshore commercial maritime sector. The company’s long-term mission is to decarbonize the harbor cities of the world, starting with ferries. Currently, EV Maritime is under contract with a large public transport authority for delivery of two 200-passenger battery-electric fast ferries. With a growing network of supply partners globally, the company helps local boat builders become electric boat builders and supports operators and public transit agencies to buy from them with confidence.

    Source: https://www.nzmarine.com/

  • 26 Jul 2024 12:03 PM | Mike Hearn (Administrator)

    Supporting multi-year fiber and grid resiliency program across southwest U.S. utility

    ikeGPS Group Limited (IKE) (NZX: IKE / ASX: IKE) is pleased to announce it has secured a contract that is expected to generate ~NZ$19m revenue over the coming ~36 months.

    Highlights
    Expectation for ~NZ$19m platform transaction revenue.  Revenues are expected to be delivered and recognised over the next ~36 months.
    Supporting the delivery of a multi-year fiber and grid resiliency program across the network of a prominent utility in the southwestern United States.
    The contract begins immediately, from the end of July 2024. 
    Another important step towards targeted EBITDA breakeven and continued high revenue growth.

    IKE CEO Glenn Milnes commented, “We are excited to announce this significant product expansion with a longstanding partner, underscoring their confidence in our technology and solutions. This deal will strengthen our platform transaction revenue stream over the next several years, noting that these types of contracts require the customer to deliver network data to IKE and that the timing of associated revenue can vary based on customer execution.

    “Fiber build, grid resiliency and grid hardening is a major focus for the 3,000-plus utilities distributing power and commnunications across North America, and we expect this specific market tail wind to continue for the coming two or three decades. IKE’s products have been built to drive productivity into the end-to-end deployment and grid resiliency process, and we remain focused on delivering exceptional value and customer experience to these important infrastructure groups.”

    About IKE We’re IKE, the PoleOS™ Company. IKE seeks to be the standard for collecting, analysing and managing pole and overhead asset information for electric utilities, communications companies, and their engineering service providers.

    The IKE platform allows electric utilities, communications companies, and their engineering service providers to increase speed, quality, and safety for the construction and maintenance of distribution assets.

    The core revenue engine for IKE is driven by the number of enterprise customers subscribing to the IKE platform and the volume of assets (called Transactions) being processed through IKE’s software.

    Source: https://www.nzx.com/announcements/435142

  • 25 Jul 2024 8:18 AM | Mike Hearn (Administrator)

    In what is being called a silent epidemic, New Zealand is inadvertently discouraging expat Kiwis, as well as high-contributing and investment-ready migrants from staying here, a new report by the New Zealand Institute of Economic Research (NZIER) shows.

    The report https://www.nzier.org.nz/publications/the-place-where-talent-does-not-want-to-live, called The place where talent does not want to live, has been commissioned and supported by the Auckland Chamber of Commerce, the American Chamber of Commerce, the NZUS Council, the Edmund Hillary Fellowship, as well as key individuals, to shine a light on how New Zealand’s international tax requirements are actively working against our migrant attraction policies and programmes – as well as discouraging Kiwis with much needed skills from coming home.

    Under New Zealand’s current international tax rules, some expat Kiwis returning to New Zealand as well as other migrants are taxed by New Zealand on the investments they made before coming here. The rules impose New Zealand tax on the paper value of those investments, even if they are still in start-up phase and not making any income.

    The regime, called the Foreign Investment Fund ("FIF") rules, is out of step with the rest of the OECD and does not match New Zealand’s aspirations (and need) to attract and retain global talent and investment.

    Simon Bridges from the Auckland Chamber of Commerce says: “Immigration and tax are two of the most powerful policy levers available to influence the economic and social progress of a nation. New Zealand has the ability to attract the world’s brightest – we already have evidence of that. But we are shooting ourselves in the foot. The fact that our current international tax regime is working against our immigration settings means we are not getting the full return on investment from all our attraction programmes – and most importantly we are not retaining their skills, talent, investment and innovation.”

    Rob Coneybeer, a Managing Director and Founder of US-based early-stage venture capital firm Shasta and himself a migrant, says he hates to see New Zealand hold itself back.

     “A robust startup tech ecosystem has been the key driver for economic growth in the US and China, and it can do the same for New Zealand. It is the cleanest industry imaginable, and the fact that New Zealand is an amazing place to live represents an enormous untapped advantage for recruiting top tech talent. But that doesn't work if the New Zealand tax system is discouraging people from staying.”

    Peter Wilson from NZIER says the part of the tax system causing issues was designed 40 years ago to protect the domestic tax base from exploitation through the use of tax havens and removing tax-driven incentives to invest offshore rather than at home.

    Jonathan Mason from the NZUS Council and the American Chamber of Commerce said “While that policy was right for the time, it is no longer fit for purpose in a more globalised world, where there is fierce and increasing competition to woo talent. It is holding us back as a nation. We are calling for a review of NZ’s international tax requirements to pull them into line with other jurisdictions and make New Zealand the place where talent chooses to live.”

    A recent IMF report has also noted that NZ would benefit from a more efficient, equitable, and sustainable tax system. New Zealand already has one of the most efficient goods and services tax systems globally. However, tax policy reforms are needed to promote investment and productivity, and mobilise additional revenue.

    Rosalie Nelson, Chief Executive of the Edmund Hillary Fellowship, which consists of 500+ New Zealand and international entrepreneurs, says a significant issue for Fellows is the severe negative consequences of the current FIF regime.

    “It creates an insurmountable unfair burden for the most talented Kiwis to return to New Zealand, as well as for first-time talented migrants who are adding huge value to this country. An obscure bit of taxation law is preventing the type of high contributing, investment-ready immigrants this country says it wants to attract from relocating to New Zealand – and this new report provides the evidence as to why aligning immigration and tax policy will benefit all of New Zealand.”

    For media queries contact: Kelly Ley-Dahm, 021 539533, media@ehf.org

    Note for journalists:

    The double taxation problem arises because the Double Taxation Agreement ("DTA") between the US and New Zealand focuses on credits for "like-for-like" taxation. Since New Zealand is an outlier with FIF taxation, this means that FIF payments cannot be credited against an eventual capital gains tax bill in the United States. Most OECD countries, such as Australia, do not face this issue.

    The NZIER report shows that addressing the issues in the current international tax regime will not have a significant impact on the tax take. An estimate based on publicly-available information shows the annual contribution from the current Foreign Investment Fund tax regime is only around 0.5% to 1.0% of IRD's total annual revenue.  (Noting that without non-public information from the IRD it is not possible to make a reliable estimate.)

     




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