Fenwick to guide Greenlane
Veteran greenie Rob Fenwick will chair the board of and invest in clean tech company Greenlane Biogas.
The Kiwi exporter of biogas technology had an injection of funds late last year from well-known local investors Tenby Powell and Sharon Hunter who plan to reclaim its position as a world leading supplier of biogas equipment. Greenlane's former parent, the Flotech Group, went into receivership in 2012 but continued to trade after being bought out by some of the original shareholders.
Fenwick said his stake would be under 5 per cent in the company, which he had a "good feeling" about. "It's on the right side of history. There are a number of international developments that are happening that point to it having strong growth in the next two to three years."
Biogas comes from the breakdown of material such as manure, industrial and household waste. Greenlane's equipment turns these gases into biomethane fuel. It has built about 70 plants globally, including the world's largest in Montreal, Canada.
Fenwick said there was a growing recognition big cities had to clean up their organic waste streams and a thirst for renewable energy sources of which biogas was predominant.
Fenwick and his partners established Living Earth, which makes compost by diverting organic waste from landfills, 20 years ago. It is now the largest business of its kind here. He's also chaired Antarctica NZ since 2007.
- Sunday Star Times