AgriZeroNZ Secures NZ$117M to Cut Agricultural Emissions

AgriZeroNZ, a pioneering public-private partnership focused on reducing emissions in New Zealand’s agricultural sector, has secured an additional NZ$117 million (US$65.37 million) in funding. This brings the total capital raised since its launch to NZ$308 million (US$172.98 million). The platform, jointly owned by the New Zealand government and major agribusinesses, leverages private sector investments that are matched dollar-for-dollar by the government.

New investors Alliance and Farmlands have joined existing partners like The a2 Milk Company, ANZ, ANZCO, ASB, Fonterra, Rabobank, Ravensdown, Silver Ferm Farms, Synlait, and BNZ. BNZ, one of New Zealand’s largest agricultural lenders, has further committed NZ$4.2 million (US$2.35 million), bringing its total investment to NZ$8.2 million (US$4.58 million). Dan Huggins, CEO of BNZ, emphasized the importance of continued investment in research and development to help farmers reduce emissions while maintaining productivity.

Since its inception on February 1, 2023, AgriZeroNZ has allocated over NZ$80 million (US$44.71 million) across 21 ventures aimed at developing solutions like probiotics, pasture improvements, genetics, and wearables to cut methane and nitrous oxide emissions. The goal is to achieve a 30 percent reduction by 2030 and near-zero emissions by 2040. One of the first solutions likely to be available is a methane-inhibiting bolus developed by Ruminant Biotech, currently seeking regulatory approval.

Rob Hewett, Board Chair of AgriZeroNZ, highlighted the collaborative effort required to address this challenge, noting that major export customers expect progress on emissions reductions. Wayne McNee, CEO of AgriZeroNZ, expressed optimism that with sustained investment, New Zealand farmers will have access to a range of effective tools by 2030.