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  • 08 Apr 2022 12:41 PM | Mike Hearn (Administrator)

    HONOLULU – Hawaiian Airlines today confirmed its long-awaited return to New Zealand on July 2 with the resumption of three-times-weekly nonstop flights between Honolulu (HNL) and Auckland (AKL), ending a more than two-year-long suspension due to pandemic-related travel restrictions.

    “Our July return comes at just the right time as Kiwis looking to get away this winter can now take a much-needed tropical escape to the Hawaiian Islands or visit the continental United States. We look forward to welcoming them back with our authentic Hawaiian hospitality and unparalleled onboard service,” said Andrew Stanbury, regional director for Australia and New Zealand at Hawaiian Airlines. “The resumption of our New Zealand service, along with the restart of our Sydney service in December, completes the reopening of our Oceania market – an integral piece of our company’s post-pandemic recovery.”

    HA445 will resume on July 2, departing HNL Mondays, Wednesdays and Saturdays at 2:25 p.m. and arriving at AKL at 9:45 p.m. the next day. Beginning July 4, HA446 will depart AKL on Tuesdays, Thursdays and Sundays at 11:55 p.m. with a 10:50 a.m. same-day arrival at HNL, allowing guests to settle in and explore O‘ahu or connect to any of Hawaiian Airlines’ four Neighbor Island destinations. Kiwi travelers also regain access to the carrier’s extensive U.S. domestic network of 16 gateways, including new destinations in Austin, Orlando, and Ontario, California, with the option to enjoy a stopover on the Hawaiian Islands in either direction.

    Hawaiian has proudly served as one of the leading carriers for service between New Zealand and Hawaiʻi since March 2013. The airline will continue to operate its AKL-HNL route with 278-seat, spacious wide-body Airbus A330 aircraft featuring 18 Premium Cabin lie-flat leather seats, 68 of its popular Extra Comfort seats and 192 Main Cabin seats. Guests onboard Hawaiian’s transpacific flights to Hawaiʻi will also experience its new Travel Pono in-flight video, which debuted last year to encourage visitors to experience Hawai‘i safely and respectfully.

    hose arriving in Hawaiʻi must comply with U.S. federal travel requirements, including providing proof of COVID-19 vaccination and a negative test result obtained no more than one day prior to travel. Non-citizens traveling from Hawaiʻi to New Zealand need to submit proof of vaccination and a negative test result before entering the country, and take two rapid antigen tests upon arrival. All international guests are encouraged to reference official government channels for the latest updates as they prepare for their trip.

    For flight schedules and to purchase tickets, visit www.HawaiianAirlines.com

  • 29 Mar 2022 8:12 PM | Mike Hearn (Administrator)

    Ampersand investment opportunity Syft is pleased to announce that it has reached an agreement with Ampersand Capital Partners (Ampersand) to invest $22.8m in Syft, subject to shareholder approval. Ampersand will subscribe to 17,545,000 convertible preference shares, equivalent to 19.6% of the total shares post-investment, at a price of $1.30 per share.

    Ampersand is a Boston, Massachusetts, USA based private equity investor, founded in 1988 and with more than US$2billion assets under management. They specialise in the life sciences and healthcare sectors, and have deep expertise in this space.

    As part of the investment, Syft will also welcome Mr David Patteson to the Board. Mr Patteson leads Ampersand’s Portfolio Acceleration team, and currently serves as Chairman of US headquartered Alliance Pharma. He has over 30 years of experience in the space in Board and CEO roles, scaling businesses built on mass spectrometry and other analytical instrumentation technologies.

    Alex Fala, CEO of Syft, comments “Syft continues to build momentum in our core business. The capital from Ampersand will allow us to accelerate our progress in the semiconductor market and develop our next scalable opportunity in life sciences. Dave Patteson and Ampersand have deep expertise and networks that are directly applicable in Syft. We couldn’t think of a better partner to have on our next phase.”

    Dave Patteson, Partner at Ampersand, shared “Syft has a remarkable technology and product platform, with notable traction in semiconductor and adjacent segments. Their life science market pull, applications and commercial expertise, combined with Ampersand’s investments, should allow for meaningful penetration and adoption rates. We are thrilled to partner with their executive team, board, and shareholders to help realize the full potential.

    ” Following this announcement shareholders will receive two invitations:
    1. A formal notice of meeting to attend the Special Meeting to vote on the ordinary resolutions to issue capital and formally appoint Mr Patteson to the Board. And;
    2. An update on the company strategy from CEO, Alex Fala, at 10am, Thursday 7 th April. Please register your interest via the following link, where you will also find further instructions on how to participate.

    Operational Update
    We are now in the final days of the financial year, and Syft is projecting an unaudited full year revenue of $34m, 18% growth YoY.

    Mr Fala commented “We are pleased to have returned to growth mode in FY22. We have a large pipeline, including significant potential orders from our major customers. We had aimed for more of that revenue to come into the FY22 year, but that hasn’t ultimately met with our customers’ operational plans and the impacts of the Omicron variant. That’s somewhat the reality of the current concentration in our revenue, which we continue to work on in our sales activities.”

    To further support the business growth, Syft has appointed Sharonn Zimmerman as Vice President of People and Capability. Sharonn will oversee every aspect of the people function as Syft develops its talent, capability and culture to enable global growth.

    Sharonn brings over 30 years of experience in a myriad of HR leadership roles. In her early career, she was appointed by Ixchange/FrontRange Solutions as HR Director to support their transition from a private to Nasdaq listed company. She spent 12 years with Dimension Data / NTT, as head of the talent integration and organisational development practices, receiving a number of awards for her innovative, people-centred approach and ability to scale for growth. She joins Syft after spending just short of three-years in a strategic HR role with the Ministry of Social Development, the lead agency in the social sector.

    Sharonn commented, "I'm thrilled at the opportunity of joining Syft, a homegrown success story, and returning to my business roots. Syft is a big little company, small enough to enable agility and pace, while also big in ambition and global footprint. I’m particularly energised at the prospect of working alongside a relatively new and dynamic leadership team, and supporting the company’s growth agenda.” Sharonn will join the team based in Christchurch at the end of April.

    Source: https://www.syft.com/

  • 27 Mar 2022 2:58 PM | Mike Hearn (Administrator)

    Fix & Fogg is ramping up its US presence where its distribution is now close to 3,000 stores and has just secured a range extension with Whole Foods Market.

    Co-founder and chief executive Roman Jewell told the Ticker the company is on track to be selling eight million jars a year in the next 24 months – up from the current one million – after building on its flagship Whole Foods Market deal to go into 500 stores in July last year.

    “We are now in 3,000 stores across the US but it is all relatively new,” Jewell said.  

    “What Whole Foods did was lead to a cascade of new distribution. We’ve been in some of those stores only 2-3 months and some of them have said we’re taking you and putting it on the shelf next month so we’re building out the brand across the US.” 

    The Wellington company will “just continue to ramp”, Jewell added, with a range extension with Whole Foods helping to drive growth. From May, the 25-employee nut butter company will see its current deal with the leading US retailer’s 500 stores extended from three to seven SKUs.

    “The range extension has come about because of what we brought to the category. That was, sure, good quality products, but also innovative – we brought interesting flavours to a category that was a little bit stagnant,” Jewell said.

    “Shoppers have their weekly favourites, but they still want to be dazzled, they still want to find cool things. It is important for Whole Foods and other natural and specialty grocery stores that they deliver that, I think we have helped solve a problem.”

    For a relatively small company, Fix & Fogg was also deeply invested in what is one of the world’s largest nut butter markets. 

    It has a Houston-based team led by US general manager Blake Lupton and ploughed US$500,000 into a joint venture with a Colorado manufacturer to secure its own line, which completed in September.

    All of this was a “massive financial commitment for the business,” said Jewell, who co-owned the company with his wife Andrea, but it has been a bet that is paying off.

    “We always wanted to go down the path of being present in that market, not just present with our product but physically present with our brand, our values, our people because it shows a level of seriousness,” he said.

    “America is a market where everybody turns up with the next best thing or the latest trend, but it can have a lot of gloss and veneer without substance.

    “We have a really good quality product first and foremost, and a team that could deliver it.”

    Jewell added that it was a different approach from a typical export strategy, “which is to put lots of things in containers and send them off around the world and attend trade shows once a year”. 

    “We are really trying to show that this is both a New Zealand and American based business. The model we applied is very hungry for capital, but it has proven itself.”

    While it had run the rule over other markets within reach of its US manufacturing hub – such as Canada and Europe – the focus remained on the US for now, in nataural and speciality grocery stores.

    “We have a rule of thumb here that it always takes at least two years to actually prove and make a product or the brand work in a market,” Jewell said.

    “People have to get to know it, you have huge start-up costs in terms of slotting fees, setting up distribution and marketing so it is always good to take a long term play.

    “Markets like the US can just chew money up. You have to go in knowing what you are getting yourself into, and if you go in undercooked you could just come unstuck and end up retrenching back to where you were. You need enough gas in the tank to get through a couple of years.”

    There was plenty more to play for in the US, and Fix & Fogg had the ability to build another line or another facility there should it need to.

    “There are 380 million people in America versus 5 million here in New Zealand and thousands of grocery stores. It is the largest nut butter category in the world so it is neat to be playing in there and it is neat to be in the best stores in that market.”

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

  • 25 Mar 2022 9:22 AM | Mike Hearn (Administrator)

    A Kiwi company has secured a US export contract to supply one of New York’s tallest skyscrapers with its wool flooring product.

    The $1.1 billion Brooklyn Tower will be home to hundreds of the city’s elite and will stand at 327 metres when it opens later this year, making it one of the world’s tallest residential buildings.

    The new contract will see Bremworth supply over 3,000sqm of wool carpet for the 93 storey, supertall skyscraper and is one of the company’s largest ever installations of its natural fibre product in the US.[1]

    The North American deal is the highest profile commercial contract for the company since Bremworth’s wool carpets were used in the refurbishment of dozens of US retail outlets owned by Cartier, the luxury French jewellery maker.

    Greg Smith, Bremworth CEO, says the contract is significant endorsement for the New Zealand wool industry.

    “The landmark Brooklyn Tower will have 550 residential apartments with multi-million-dollar entry points and will stand over 100 metres taller than the next tallest building in this borough of New York.

    “The selection of our wool carpet for this project is a testament to the quality of both New Zealand wool as well as Bremworth’s manufacturing capability and is set to help open other export opportunities in this market,” he says.

    Smith says their New Zealand made product commands a price premium in the US market.

    He says leveraging high profile installations such as the new Brooklyn skyscraper are necessary to help the company mitigate the impact of import tariffs that reduce their competitiveness in the US.

    “We know that consumers have had the last couple of years to review their interiors as they have spent more time living and working at home.

    “As a result, we are seeing a conscious shift towards making their surroundings a more natural environment - as part of an enhancement to their overall health and wellbeing.

    “The US market has traditionally been dominated by synthetic carpets and as a natural fibre manufacturer from a country that is renowned for its environment and high standard of farming practices, this is creating a significant opportunity for us.

    “Our wool carpet retails at a premium in North America, when compared to plastic based synthetic carpets which make up around 95% of carpet sold in that country.

    The use of Bremworth products in high profile installations such as the Brooklyn Tower and Cartier stores provide us with a unique marketing opportunity to grow our presence and exports of New Zealand wool in this lucrative market,” he says.

    [1] A ‘supertall’ building is an occupied structure between 300 - 600 metres in height.


  • 23 Mar 2022 9:25 AM | Mike Hearn (Administrator)

    Getting to New York just got easier. Today, Air New Zealand has announced its first flight to the Big Apple will be on 17 September this year.  

    Landing at John F. Kennedy Airport, the airline will operate its flagship Auckland-New York route three times a week, year-round with its Boeing 787-9 Dreamliner aircraft. The new service further deepens the alliance between Air New Zealand and United Airlines. 

    Air New Zealand Chief Executive Officer Greg Foran says with international flying on hiatus for two years and the New Zealand border reopening on 2 May to visa-waiver countries, this is the moment Kiwis have been waiting for.  

    “New York is an iconic yet familiar city, a bucket list item. And now for the first time, Kiwis can visit the city of all cities with a non-stop flight. New Zealand lets you slow down – in New York, everything is bigger and faster, it’s exciting and awe inspiring – and it’s now closer than ever.” 

    “The US has always been a key market for us, and this new route cements our commitment to developing growing tourism opportunities between the two countries. In the six years leading up to Covid, the US visitor numbers to New Zealand doubled and looking at the average spend in New Zealand by US tourists, we estimate that this new route would contribute an additional $65M per year into the local economy. 

    “Traditionally, flight numbers 1 and 2 are used for an airline’s flagship route. And that’s what New York will be – our flagship route.” 

    Departing Auckland at 7:40pm, customers will enjoy Air New Zealand’s award-winning cabin experience, and literally wake up in the city that never sleeps. 

    “We’ve worked incredibly hard over the last few years to make this ultra-long-haul service a reality – it’s one of the longest routes in the world, at just over 16 hours northbound and 17 and a half hours southbound. To ensure customers arrive in New York feeling refreshed, we’ve put a lot of thought into the onboard experience and teams are working around the clock to make sure this a great flying experience.” 

    After a stopover in New York, for customers wanting to travel further afield, Air New Zealand’s strong partnership with United Airlines can connect them on to domestic destinations across the US, Canada and the United Kingdom. For those wanting to explore more of Europe, thanks to Air New Zealand’s network of partnerships, customers can also fly direct from New York to Frankfurt, Munich, Zurich, Vienna, Brussels, Helsinki, Copenhagen and Stockholm 

    The new service will also provide greater choice for travellers between New Zealand and North America, with Air New Zealand serving seven destinations in North America – Chicago, Honolulu, Houston, Los Angles, San Francisco, Vancouver - and soon - New York.   

    Tickets are now on sale at www.airnewzealand.co.nz.  

    Inaugural outbound flight schedule – 17 September only: 

    Flight No. 

    Operated by 

    Aircraft type 

    Departs 

    Arrives 

    Frequency 

    NZ2 

    Air New Zealand 

    Boeing 787-9 Dreamliner 

    Auckland 

    16:00 

    New York 

    16:15 

    Sat 


    Flight schedule effective 19 September: 

    Flight No. 

    Operated by 

    Aircraft type 

    Departs 

    Arrives 

    Frequency 

    NZ2 

    Air New Zealand 

    Boeing 787-9 Dreamliner 

    Auckland 

    19:40 

    New York 

    19:55 

    Mon, Thu, Sat 

    NZ1 

    Air New Zealand 

    Boeing 787-9 Dreamliner 

    New York 

    21:55 

    Auckland 

    07:30 +2 


    Flights will arrive in to and depart from Terminal 1 at John F. Kennedy International Airport.

    Flights are subject to government and regulatory requirements. 

    Source: www.airnewzealand.co.nz


  • 16 Mar 2022 1:25 PM | Mike Hearn (Administrator)

    DoorDash, the United States’ largest on-demand platform for door-to-door food delivery, appears to be planning to launch in New Zealand next month.

    The multibillion-dollar company is expected to shake up New Zealand’s hospitality sector because it is expected to offer cheaper fees for restaurants compared to UberEats, Delivereasy and Menulog.

    It is advertising for multiple New Zealand workers on LinkedIn, and it registered DoorDash Technologies New Zealand with the Companies Office in November.

    “DoorDash is looking for top talent to play a pivotal role in building our business in New Zealand," its LinkedIn post reads.

    It has been reported that DoorDash is planning to launch in this country on April 13. The food delivery service already has an Australian presence, having launched there in 2019. It claims to operate across 85 per cent of Australia with more than 40,000 local drivers called “Dashers”.

    But a DoorDash spokeswoman said there was nothing to report at this time.

    “International expansion is a growth priority for us, just as expansion into new categories and new use cases are,” she said.

    “We have made solid progress in our international markets, and we expect to invest further in these markets, and will evaluate others where we believe we can provide a unique value proposition to merchants, consumers, and Dashers."

    Its international market included Puerto Rico, Canada, Australia, Japan, and Germany, she said.

    It also launched a deal with Afterpay in Australia, allowing customers to pay for both orders and subscriptions over split instalments.

    The amount being spent on food delivery services in New Zealand has tripled since the pandemic began two years ago.

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

  • 11 Mar 2022 12:54 PM | Mike Hearn (Administrator)

    Local online building marketplace, ArchiPro, has big plans to grow in Australia after raising $35 million from investors led by a New York-based private equity firm, Tiger Global.

    The Series A funding round was supported by local Icehouse Ventures and Liger Trading. 

    ArchiPro's website helps to connect people who want to renovate or build  home with possible product suppliers or architects.

    ArchiPro Chief Executive, Milot Zeqiri, said that: “They can now hire more staff, develop products and capitalise on its rapid expansion across the Tasman. The growth in Australia has been really good for us. The uptake has been incredible, and we've been able to sign up more clients in the six months that we've been live in Australia than it took us about two years to sign up in New Zealand.” 

    RNZ article  https://www.rnz.co.nz/news/business/463107/digital-building-marketplace-operator-eyes-australia-expansion

    Source: www.nzprivatecapital.co.nz

  • 04 Mar 2022 9:48 AM | Mike Hearn (Administrator)

    Drawing on his science education, tech career, an extensive US network, and long-time connection with New Zealand, Dr Mark Bregman of Quidnet Ventures campions science-based Kiwi startups demonstrating a “terroir” of innovation.

    Established in Auckland in 2021, and operating also out of San Francisco and New York City, Quidnet Ventures offers operational guidance – along with seed-stage and Series A funding – to Kiwi entrepreneurs who are ready to take innovations in science-based deep tech to the global market.

    Quidnet’s founder and general partner, Dr Mark Bregman, leads a team of advisors with collective executive work experience in Europe, China, Japan and India, as well as New Zealand. Bregman explains how his personal journey – from tech executive in his US homeland to corporate venture professional and hobbyist winemaker in his adoptive New Zealand – has given him the mind-set and expertise to help startups navigate early growth stages and make crucial connections, particularly with the US.

    The science of innovation
    Bregman’s interest in science-based tech was piqued in the 1980s during a post-doctoral fellowship in neutrino physics at IBM Research. Rubbing shoulders with visionaries such as Benoit Mandelbrot (the inventor of fractals) and Robert Dennard (the inventor of the single transistor DRAM), Bregman saw the “interesting and challenging areas people were working in that people cared about”. At the end of his post-doc, he decided to stay at IBM, moving into the microelectronics research division.

    The connection between academic research and commercially viable deep tech became a theme throughout his corporate career, as he studied and led innovation inside established corporates, such as IBM, and within the startup ecosystem.

    Visiting New Zealand regularly for IBM meetings with clients such as BNZ and Telecom, Bregman forged strong links with the country, in part through his interests in yachting and viticulture (he bought into a vineyard in the 1990s). “I became more plugged into the tech startup ecosystem here,” he explains. “Back then, it was in its formative days, but it was clearly growing rapidly.”

    He also saw how limited capital there was in the seed and Series A venture range, “so Kiwi companies had to look offshore to grow.”

    Marrying big corporate knowhow with fast-growth startups and funding

    After leaving IBM, Bregman worked at various enterprise software companies and start-ups – including VERITAS Software, Symantec and NetApp – before joining Vista Equity Partners in 2019. At Vista, he helped portfolio companies leverage innovation in the early fast-growth stage. He also led corporate venture programmes at Symantec, Neustar and NetApp, and co-founded an AI/ML startup, helping the publishing industry match readers to content.

    His ongoing connections with New Zealand eventually attracted him to pursue residency, and Quidnet Ventures was born from his fascination with place-based innovation and the exciting stage of the technology sector here. “There’s that maturing and vibrancy of the entrepreneurial technology ecosystem happening right now, which can lead to a real impact on jobs and economic growth.”

    New Zealand’s “terroir” of innovation
    For Bregman, one of the key attractions of Kiwi innovation has been that famous No. 8 wire thinking. He uses the viticulture term “terroir”, defined as the blend of factors – the soil, climate, terrain and human input – that shape the unique qualities of a wine. 

    As he sees it, New Zealand’s geographic isolation has bred a terroir of ingenuity and invention. And, with such a small home market, “Kiwis have had to think globally from day one. Many are motivated by making an impact first, money second. And this leads to better ideas – defensible ideas.” 

    He believes New Zealand punches above its weight in certain tech sectors. “The overarching goal in launching the fund is to accelerate the growth of a vibrant entrepreneurial technology ecosystem.” He lists Quidnet’s areas of special interest: deep-tech companies in New Zealand that operate in agtech, AI/ML and medtech, all of which are based in scientific, defensible intellectual capital. “We look to the ones where we can provide the leverage and specialist knowledge, and create the most traction in the US.”

    Investment strategy
    Two criteria in particular guide Quidnet’s investment strategy. “First, I ask, how does this company benefit from being in New Zealand? Second, do they work with science-based deep tech? Ideas need to be defensible and not easily copied, and this is the area in which I’m best positioned to help.” 

    That help comes in the form of operational guidance, as much as funding. Bregman is keen to avoid the general situation in the US, where, he says, too much money floods in too early on from financial investors who offer little advice on how to use the cash. 

    “We are hands-on, providing operational advice to give founders a clear road map as they launch in the US. We have advisors in deep tech, growth, sales and marketing, and through our networks we can introduce founders to the support they need.”

    The process of getting to know a potential investee can take a long time – several years, in some instances. Bregman pitches this as an advantage to investees. “We take the time to help with connections and introductions, and a stateside perspective. With our deep knowledge of US norms, we can ensure the cap table is clean and attractive for US investors. We can introduce investees to legal and IP experts, distribution channel specialists, venture capital funds, and more. But first we determine where a company is at, and its priorities, before giving advice.”

    A science-based deep tech portfolio
    Quidnet has made 10 investments in its first year and is on track to support more than 30 companies from its first fund. Among these are:

    • Dawn Aerospace, which pioneers new space transportation and satellite propulsion systems (including green fuels),

    • Litmaps, which has built a research platform that is revolutionising the use of peer-reviewed and patent literatures for scientists, engineers and other experts,

    • Winely, which develops real-time fermentation analysis that, via the IoT, gives greater control to vintners,

    • Arcanum, a feature-as-a-service platform offering enterprise AI solutions: products and platforms for machine learning, machine vision and neuro-linguistic programming, and

    • Marama Labs, a deep-tech sensor and data analytics company that develops advanced spectroscopy sensors for analysing the chemical composition of liquids. 

    Another is PowerON, which aims to turn robotics from ‘clunky and dangerous’, in the words of CTO Dr Katherine Wilson, to soft multifunctional robots “that can interact with us and help us in daily life.” Potential applications include prosthetic limbs, lifelike medical models, and assistants for patients. 

    Launched in 2019, and based in Auckland and Dresden (a European centre for robotics), PowerON is a spinoff from the Biomimetics Lab at the Auckland Bioengineering Institute. It had early support and funding from Callaghan Innovation R&D (with assistance from Auckland Unlimited). In September 2021, PowerON closed an oversubscribed $3.1 million capital raise which included funding and support from Quidnet Ventures.

    “We were anticipating going overseas for early-stage investments,” says CTO Katie Wilson, “but were pleasantly surprised by the increasing number of venture funds operating in New Zealand supporting deep tech start-ups. We successfully raised pre-seed and seed funding from within New Zealand, with support from multiple groups including Quidnet Ventures. We are very encouraged by the confidence that the New Zealand investment community has shown in our team and vision for the technology.”

    Working within the Kiwi tech ecosystem
    Bregman is an Investor Fellow at the Edmund Hillary Fellowship. Working remotely from the US until borders reopen, he is helping New Zealand investees build links with the US (including Kiwi expats there); Quidnet has assisted with physical trips to San Francisco, as well as the AANZ/EHF virtual visit in 2021.

    His Edmund Hillary Fellowship also enables Bregman to pursue his goal of fostering nationwide tech excellence. “I’m of the opinion that Kiwi tech entrepreneurs should find ways to collaborate, get together, and build the fabric and network around innovation – rather than competing with each other – for collective success internationally.”

    Bregman mentors founders at the innovation spaces Te Ōhaka (Christchurch) and CreativeHQ (Wellington), and is on the Digital Technologies Investment committee for Return on Science – New Zealand’s national research commercialisation programme, which often meets at the University of Auckland’s UniServices.

    Matching the right investors for long-term relationships
    Quidnet strategically selects offshore limited partners, and all LPs typically have some link to New Zealand to help foster a connection with investees. These relationships are important for investors during the competitive second round of funding, as it gives them priority access based on existing relationships with founders and startups.

    “The advantage for investors (and investees) is that New Zealand companies are not overvalued like they are in the US. In the early stages, a lower valuation benefits everyone and fuels innovation; when founders maintain a significant shareholding, the drive and incentive to succeed  are even stronger.

    “I believe the combination of ambitious Kiwi entrepreneurs – the creative, resourceful, pioneering mentality of being far away, yet well-connected – and their global  mindset is creating an innovation nation,” concludes Bregman, “making New Zealand a really compelling place to be investing into right now.”

    Find out more

    Contact Investment Specialist Joe Rouse to learn more about venture capital investment opportunities in Auckland, New Zealand.
    Source: https://www.aucklandnz.com/

  • 27 Feb 2022 11:25 AM | Mike Hearn (Administrator)

    The $143 million contract is the largest spacecraft bus order placed with Rocket Lab to date, encompassing the design and manufacture of 17 state-of-the-art spacecraft for Globalstar’s newest satellites. 

    Long Beach, California. 24 February 2022 – Rocket Lab USA, Inc. (Nasdaq: RKLB) (“Rocket Lab” or “the Company”), a global leader in launch services and space systems, today announced that it has been awarded a subcontract by MDA Ltd (TSX: MDA), a leading provider of advanced technology and services to the rapidly expanding global space industry, to lead the design and manufacture of 17 spacecraft buses for Globalstar’s new Low Earth Orbit satellites. Globalstar, Inc. (NYSE American: GSAT) is a leading provider of Mobile Satellite Services including customizable satellite IoT solutions for individuals and businesses globally.

    Rocket Lab will lead the development of the spacecraft buses, while MDA will act as prime contractor to manufacture Globalstar’s satellites, lead the development of the payload, and perform the final satellite assembly, integration, and test. The partnership between Rocket Lab and MDA brings together two of the space industry’s most innovative satellite companies. The total initial contract value for Rocket Lab is US$143 million, with options to provide the satellite operations control center, launch dispensers, launch integration, and up to nine additional spacecraft with flexibility in timing to order such spacecraft. The satellites will integrate with and replenish Globalstar’s current constellation, ensuring service continuity. Globalstar expects to launch the satellites by the end of 2025.

     “We are thrilled to be collaborating with MDA to develop Globalstar’s new satellites and are honoured to have the trust and support of two of the space industry’s most innovative companies,” said Peter Beck, Founder and CEO of Rocket Lab. “With this contract Rocket Lab is executing on its strategy to go beyond launch and lead the new space economy by delivering complete mission solutions spanning spacecraft manufacture, satellite subsystems, flight software, ground operations, and launch.”

     “Cross-company collaboration and co-development is key to bringing new capabilities to market quickly to meet growing customer demand for advanced satellite technology,” said Mike Greenley, CEO of MDA. “Rocket Lab is a strong fit for MDA and working with them on this system is an opportunity to flex, expand, and strengthen the capabilities of both companies, now and in the future.”

     All 17 of the 500kg spacecraft will be designed and manufactured at Rocket Lab’s Long Beach production complex and headquarters, where a new high-volume spacecraft manufacturing line is being developed to support growing customer demand for Rocket Lab satellites. Leveraging Rocket Lab’s vertically integrated space systems capabilities, the satellites will feature components and subsystems produced by Rocket Lab’s recently acquired companies including solar panels and structures from SolAero Technologies in Albuquerque, New Mexico, software from ASI by Rocket Lab in Denver, Colorado, and reaction wheels from Sinclair Interplanetary in Toronto, Canada. The telemetry and control radio for all spacecraft will also be a C-band variant of Rocket Lab’s Frontier Satellite Radio (Frontier-C).

     The contract is the result of a very detailed and highly competitive bid and evaluation process and Rocket Lab is honoured to have been selected by MDA. We believe Rocket Lab’s proposal met MDA’s and Globalstar’s stringent technical and schedule requirements, offered efficiencies through Rocket Lab’s high level of vertical integration, and that there is also strong cultural and operational alignment between the companies to deliver innovation and agility in today’s satellite market.

     Rocket Lab’s suite of spacecraft components and subsystems include reaction wheels, star trackers, space solar power, radios, flight software, ground software, and separation systems. More than 1,000 spacecraft globally have successfully flown with hardware from Rocket Lab and the four companies it has acquired since 2020.

    Source: https://www.rocketlabusa.com/


  • 23 Feb 2022 12:59 PM | Mike Hearn (Administrator)

    On February 23, the U.S. Chamber submitted business recommendations to the administration on its efforts to develop an Indo-Pacific Economic Framework (IPEF). The comments commend the Biden administration’s recognition of “the strategic importance of the Indo-Pacific to America’s global leadership and security” but argues in favor of re-joining the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP), which has entered into force and is attracting new applicants despite the U.S. withdrawal in 2017.

    Even so, the Chamber encourages the administration to act quickly on IPEF. The document contends the administration should move swiftly, draw on trade disciplines the U.S. has developed and applied in other contexts, take advantage of IPEF’s flexible framework to achieve desired outcomes on different timetables, and engage with public and private stakeholders.

    The Chamber outlines important elements that could be achieved through IPEF and highlights the following as points for inclusion in the new framework:

    • Digital trade—To counter foreign trade barriers, IPEF should include an enforceable digital trade agreement that builds upon the high standards the U.S. has already negotiated in its agreements with Japan and in the U.S.-Mexico-Canada Agreement (USMCA);
    • Customs administration and trade facilitation—The IPEF should expand on the WTO Trade Facilitation Agreement (TFA) and customs measures in U.S. FTAs to streamline procedures and ease logistical impediments to the free flow of goods and services;
    • Good regulatory practices—The IPEF should explore opportunities for regulatory cooperation by incorporating and building upon provisions from the Good Regulatory Practices and Technical Barriers to Trade sections in USMCA and the recently concluded WTO Reference Paper on Services Domestic Regulation;
    • Anticorruption—The IPEF should include measures to prevent and combat bribery and corruption, such as those found in the U.S. trade protocols with Brazil and Ecuador;
    • Government procurement—The IPEF should include commitments on government procurement procedures, such as those in the USMCA, and increase funding for IPEF partners under the U.S. Trade and Development Agency’s Global Procurement Initiative;
    • Health systems—The IPEF should include a health track for dialogue to strengthen health systems;
    • Medical products—The IPEF should support tariff elimination on health products, reiterate commitments to refrain from export restrictions, and strengthen regulatory cooperation and capacity building;
    • Infrastructure—The IPEF should include U.S. commitments to infrastructure development in the region, including the development and deployment of 5G. It should also include active coordination of research activities and dialogues to support supply chain diversification and domestic production capabilities;
    • Sustainability—The IPEF should include near-term initiatives that support resource efficiency, low carbon energy projects, supply chain resiliency, and other sustainability goals;
    • Energy transition and climate change mitigation—The IPEF should include regulatory alignment on clean energy technologies and other decarbonization efforts, cooperation on strategic minerals, and tariff elimination on a list of environmental goods;
    • Intellectual property capacity building—The IPEF should incentivize global participation in ecosystems for innovation through IP capacity building;
    • Technology standards—The IPEF should preserve a market-based approach to technology standards and establish common standards for procurement-based innovation; and
    • Export controls—The IPEF should contain an agreed framework for member countries to consult on an ongoing basis on the commercial implications of the evolving export control regime for sensitive technologies.

    On February 18, the Chamber also joined a multi-associationletterurging the administration to develop an ambitious IPEF that seeks to “open markets, promote inclusive trade and economic growth, enable rules-based commerce, increase sustainability, and promote shared values and interests.”

    The Chamber is meeting with administration officials engaged on this effort to convey these messages. For further information, please contact Senior Vice President for Asia Charles Freeman (cfreeman@uschamber.com).

    Source: www.uschamber.com




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