ASB Bank's Clean Tech Fund: Accelerating Decarbonisation in New Zealand
Key Ideas
  • ASB Bank's Clean Tech Fund aims to support early-stage companies focused on clean technology and decarbonisation efforts.
  • The Fund provides up to $5 million per business for technology or processes that significantly reduce greenhouse gas emissions.
  • Partnerships and connectivity are key to the success of the Fund, fostering a growing ecosystem of Clean Tech organizations.
  • The Fund's partnership with Hiringa Energy exemplifies the potential for clean hydrogen production and infrastructure development in New Zealand.
Private sector funding, particularly from ASB Bank's Clean Tech Fund, plays a vital role in accelerating decarbonisation efforts in New Zealand. Clean Technology (Clean Tech) offers promising solutions for reducing carbon emissions and improving resource utilization across various sectors like energy, manufacturing, transport, and agriculture. The Clean Tech Fund, with a focus on early-stage companies, aims to address the funding challenges faced by innovative startups in the Clean Tech ecosystem. ASB Bank's initiative targets businesses with proven technology to reduce emissions, providing up to $5 million in debt per business. The Fund's support extends to renewable energy generation, low-carbon transport, waste reduction, and more. Partnerships and connectivity are crucial components of the Fund, enabling ASB to engage with a broader Clean Tech ecosystem and support the transition to a low emissions economy. The partnership between ASB Bank and Hiringa Energy showcases the Clean Tech Fund's impact. Hiringa Energy, a green hydrogen company, received support to establish a zero-emission hydrogen refuelling network in New Zealand. This network, in collaboration with Waitomo Group and TR Group, demonstrates the practical application of clean hydrogen in transport and industrial sectors. ASB Bank's involvement reflects its commitment to sustainability and fostering long-term relationships with companies driving positive change.
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