PGF investing in early-stage projects to help Taranaki prepare for future

“Phase one of the hydrogen infrastructure projects will explore opportunities for the development of a low emission hydrogen economy,” Shane Jones said.

The Provincial Growth Fund (PGF) is helping Taranaki prepare for its future with three investments in early-stage projects, Regional Economic Development Minister Shane Jones announced today.

The projects are in the energy, food and beverage and air connectivity sectors.

The investments announced are:

Phase 1 of hydrogen infrastructure project (First Gas Limited) - $259,934

Acos filler acceleration project (Acos Filler Limited) - $300,000 loan

Next steps for New Plymouth airport runway (New Plymouth District Council) - $56,762

"Phase one of the hydrogen infrastructure projects will explore opportunities for the development of a low emission hydrogen economy," Shane Jones said.

"I'm pleased to be able to make this announcement the same week the Government launched its vision for hydrogen, as a way for us to reduce global emissions.

"The project will assess the existing gas transportation infrastructure for its potential to support future hydrogen transportation.

"The Government is committed to supporting Taranaki in its transition to a low emissions economy. This initial investment will take important steps towards potentially utilizing existing gas infrastructure as part of the region's clean energy future.

"Funding for the Acos filler acceleration project will support a private business to commercialize their machines, which fill and cap carbonated drinks, helping to enhance and retain the flavor and extend the shelf life of bottled products.

"It is expected that up to 10 jobs will be created over the next 12 months of the project.

"The Taranaki region has an up-and-coming kombucha industry and already has an established craft brewing industry and Acos Filler aims to use local suppliers and local expertise," Shane Jones said.

The PGF is also helping New Plymouth Airport look at next steps to manage growing passenger numbers.

"New Plymouth Airport's runway is the shortest in New Zealand. The results of the PGF-funded study will help determine the next steps for improving connectivity and journey time reliability for those traveling to and from the region.

"The investments we've announced today align with the region's priorities for the future. They are projects we are happy to support," Shane Jones said.

(With Inputs from New Zealand Government Press Release)