Neutron launch contract for U.S. Air Force - Flying on a return-to-earth mission NET 2026
Long Beach, CALIF. May 8, 2025. Rocket Lab USA, Inc. (Nasdaq: RKLB) (“Rocket Lab” or “the Company”), a global leader in launch services and space systems, today announced it will launch its new medium-lift reusable rocket Neutron for the U.S. Air Force Research Laboratory (AFRL) for a Rocket Cargo mission that supports point-to-point cargo transportation, establishing a new era of commercial launch capability to advance global defense logistics for the nation. The mission is scheduled for a return-to-Earth Neutron launch no earlier than 2026.
The launch contract will see Neutron execute a Rocket Cargo survivability experiment under the AFRL Rocket Experimentation for Global Agile Logistics (REGAL) solicitation, an effort by the Department of Defense to create a rocket-based point-to-point transportation system to quickly and rapidly deliver cargo around the world with commercial launch providers. AFRL’s experiment will be launched by Neutron and re-enter Earth’s atmosphere, in a demonstration of re-entry capability for future REGAL missions.
Rocket Lab’s Neutron medium-lift reusable launch vehicle will provide both government and commercial customers with an alternative and reliable launch service capable of deploying 13,000 kg to low Earth orbit. Neutron is tailored to deploy constellations and national security missions as well as science and exploration payloads. In addition to serving customers with greater affordability in the medium-launch market, Neutron is key to Rocket Lab’s strategy as an end-to-end space company preparing to deploy its own constellations and deliver services from space in the future.
Rocket Lab founder and CEO, Sir Peter Beck, says: “Neutron is a powerful new launch option that will set a new standard for performance, affordability, and reliability for government and commercial space users in medium launch. This opportunity for the U.S. Air Force not only helps to advance space logistics, it also demonstrates a high degree of confidence by the DOD in Neutron’s capabilities. Anticipation is high for Neutron’s inaugural flight this year, and we’re excited to showcase Neutron as a platform for R&D for point-to-point logistics for the DoD.”
Neutron is strongly positioned to capitalize on the medium-lift launch requirements for future government and commercial missions. Recently Significant progress continues to be made at the rocket’s launch pad on Wallops Island, Virginia, with the site’s completion expected in the next few weeks. Production, infrastructure scaling, and both Archimedes engine and full-scale components testing is continuing at pace across Rocket Lab’s various production and test facilities in the United States. Neutron’s debut remains on track for first launch in the second half of 2025.
About Neutron
Rocket Lab’s new reusable medium-lift rocket Neutron is a next-generation challenger to deliver a cost-effective, reliable, and responsive launch service for commercial and government missions. The advanced design of Neutron includes carbon composite for all of the rocket’s major structures and an innovative upper stage that enables high-performance for complex satellite deployments, including the deployment of satellite mega-constellations. The Neutron launch vehicle is a reusable launch vehicle leveraging the technology and infrastructure pioneered by the Electron launch vehicle, which has launched 63 times to date and provides the US government and commercial customers frequent, affordable access to space. Neutron utilizes a unique design that brings the Stage 1 and payload fairings back to Earth as a single, integrated stage. This maximizes cadence in a 13-ton to orbit reusable performance capability. Neutron is powered by nine Archimedes engines on Stage 1, and one vacuum-optimized Archimedes engine on Stage 2. Neutron operates from Rocket Lab Launch Complex 3 (LC-3) located at Wallops Island, Virginia from the Mid-Atlantic Regional Spaceport (MARS).
About Rocket Lab
Founded in 2006, Rocket Lab is an end-to-end space company with an established track record of mission success. We deliver reliable launch services, satellite manufacture, spacecraft components, and on-orbit management solutions that make it faster, easier, and more affordable to access space. Headquartered in Long Beach, California, Rocket Lab designs and manufactures the Electron small orbital launch vehicle, a family of flight proven spacecraft, and the Company is developing the large Neutron launch vehicle for constellation deployment. Since its first orbital launch in January 2018, Rocket Lab’s Electron launch vehicle has become the second most frequently launched U.S. rocket annually and has delivered 200+ satellites to orbit for private and public sector organizations, enabling operations in national security, scientific research, space debris mitigation, Earth observation, climate monitoring, and communications. Rocket Lab’s family of spacecraft have been selected to support NASA missions to the Moon and Mars, as well as the first private commercial mission to Venus. Rocket Lab has three launch pads at two launch sites, including two launch pads at a private orbital launch site located in New Zealand and a third launch pad in Virginia. To learn more, visit www.rocketlabusa.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding our launch and space systems operations, launch schedule and window, safe and repeatable access to space, Neutron development, operational expansion and business strategy are forward-looking statements. The words “believe,” “may,” “will,” “estimate,” “potential,” “continue,” “anticipate,” “intend,” “expect,” “strategy,” “future,” “could,” “would,” “project,” “plan,” “target,” and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to the factors, risks and uncertainties included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as such factors may be updated from time to time in our other filings with the Securities and Exchange Commission (the “SEC”), accessible on the SEC’s website at www.sec.gov and the Investor Relations section of our website at www.rocketlabusa.com, which could cause our actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.
Source: https://www.rocketlabusa.com/
ROLLING MEADOWS, Ill., April 30, 2025 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced the acquisition of New Zealand-based First Capital Financial Services (First Capital) and its affiliate First Capital Wealth Management. Terms of the transaction were not disclosed.
First Capital is a financial advisory firm providing wealth management, risk management and employee benefits services to corporate clients and individuals throughout New Zealand from offices in Christchurch and Auckland. Hugh Percy and the First Capital team will operate under the direction of Graham Campbell, head of Gallagher's employee benefits and HR consulting operations in Australia and New Zealand.
"First Capital has a client-focused culture like our own and offers an excellent opportunity to expand our benefits consulting capabilities in the region," said J. Patrick Gallagher, Jr., Chairman and CEO. "I am excited to welcome Hugh and his associates to our growing, global team."
Arthur J. Gallagher & Co. (NYSE:AJG), a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois. Gallagher provides these services in approximately 130 countries around the world through its owned operations and a network of correspondent brokers and consultants.
Source: https://investor.ajg.com/
Industry-government partnership AgriZeroNZ is investing an additional US $5 million (approx. NZ $8.7M) in Hoofprint Biome Inc., a US company developing natural enzymes and probiotics to improve cattle health while eliminating methane.
AgriZeroNZ chief executive Wayne McNee says the follow-on investment underscores the importance of natural, microbiome solutions in its $61 million investment portfolio as part of its efforts to provide farmers with a range of affordable, effective mitigation solutions.
“We invested in Hoofprint Biome Inc. at an early stage because we saw its potential to develop a powerful emissions reduction tool to help Kiwi farmers meet market demands for lower emissions products, with the added benefit of productivity gains.
“The team has since made a number of exciting technical breakthroughs and is aiming to launch its first product for dairy cows in early 2027, subject to regulatory approvals.”
The Series A funding round saw a host of global venture capital firms come onboard including SOSV, Amazon Climate Pledge Fund, Alexandria Venture Investments, and Bill Gates’ Breakthrough Energy Fellows. The round was led by SOSV with an increased company valuation, boosting AgriZeroNZ’s initial investment.
“We’re pleased to see reputable VCs come on board and ultimately give the team the best chance of bringing their product to market,” says McNee.
Dr. Kathryn Polkoff, Hoofprint Biome Inc. co-founder and CEO, says this boost in funding will enable the company to fast track its product development, with animal trials in New Zealand planned for early next year.
The enzyme blend, which would be mixed into supplementary feed, aims to reduce enteric methane emissions by over 80 per cent while simultaneously improving digestion to increase milk and meat yield by over 5 per cent.
Animals would only need to be fed one mouthful per day, making it easy to use with in-shed or pasture-based supplementary feeding systems.
Polkoff says the enzymes reduce methane emissions in cattle by re-shaping the rumen microbiome.
“These enzymes can prevent methane from being released in the rumen while also increasing nutrient flows to the animal.
“Delivering a feed efficiency benefit alongside a reduction in methane is really important. To us, the word sustainability includes what happens to a farmer’s bottom line.”
Dr. Kathryn Polkoff
Polkoff says their approach is unique because it’s based on nature’s own tools.
“Enzymes and probiotics are digested by the animal, leaving no milk or meat residues. We think these products will build on the strengths of Kiwi farm systems in sustainability and efficiency.”
Hoofprint Biome Inc. is also working on a probiotic-based delivery method for its enzymes, which could reduce dosing frequency to weekly or even monthly, making it a practical option for beef and dairy farmers who don’t feed supplements daily.
McNee says these types of microbiome solutions are an important part of its expanding investment portfolio, which also includes a methane-inhibiting bolus, vaccines, and low-emissions pasture.
“We’re investing in a range of potential mitigation solutions to give us the best chance of providing farmers with options so they can choose what’s best for their farm.
“Getting these tools into farmers’ hands is critical to help safeguard the future of New Zealand’s primary sector and export economy,” says McNee.
Hoofprint Biome Inc. is now AgriZeroNZ’s largest investment to date, totalling US $7.5 million (approx. NZ $13M).
Other investors in Hoofprint Biome Inc.’s funding round included existing seed investors Good Growth Capital, Twynam, and Ponderosa Ventures. Source: https://www.agrizero.nz/
New Zealand Cricket (NZC) has agreed terms with US-based company True North Sports Ventures (TNS) to launch a new Major League Cricket (MLC) franchise, set to debut in the 2027 season.
MLC co-founders Sameer Mehta and Vijay Srinivasan are the majority owners of entities which hold exclusive rights to own and operate two MLC expansion franchises, the first of which will be launched by TNS in 2027.
TNS is exploring several key markets across North America, including Toronto and Atlanta, to base the new franchise.
NZC also has the opportunity to partner with Mehta and Srinivasan on other strategic opportunities, such as the second franchise planned for 2031.
The first-of-its-kind agreement between a full member of the ICC and a franchise in a leading professional cricket league will see NZC provide high-performance and operational support, including coaching, management, and support staff, as well as integrating the franchise into NZC’s domestic high-performance ecosystem.
In the second phase of development, NZC will offer expertise in cricket infrastructure and turf management.
Additionally, NZC has become a foundation investor in TNS, with the ability to make a more substantial equity investment before the end of 2025.
NZC chief executive Scott Weenink said the partnership would position his organisation at the forefront of cricket’s global transformation, as well as strengthening its presence in the world’s most lucrative sporting market.
“This agreement marks a unique and exciting milestone for NZC,” he said.
“As franchise cricket grows globally, NZC needs to adapt to seize strategic opportunities that ensure the sustainability of our cricket network.
“This helps diversify our revenue streams, expands our global brand and fan base, and creates new talent development and retention pathways for both our players and coaches.”
Weenink noted MLC was a world-class T20 tournament, and said he was proud to align with Messrs. Mehta and Srinivasan and the TNS investor group, to drive cricket’s growth in North America.
He said NZC would be joining an array of world-class, global sports, high net worth, and private equity investors in TNS, including 49ers Enterprises (the investment arm of the NFL’s San Francisco 49ers) which boasts an enviable portfolio of global sports assets, including recently promoted English Premier League side, Leeds United.
Mehta and Srinivasan are serial entrepreneurs who co-founded Willow TV, North America’s premier cricket broadcaster, after which they co-founded the MLC and led its successful launch in 2023.
“TNS is delighted to partner with NZC, an organisation admired for its sustained success despite limited financial and playing resources compared to other international cricketing bodies,” said Mehta.
“As founders of start-ups that have rapidly grown to established businesses, we see NZC as a perfect fit for our new franchise.
“With NZC’s expertise, our expansion franchise will elevate MLC’s world-class T20 product and support cricket’s rapid growth in our region.
“The potential for cricket in North America is immense, and we look forward to working with NZC to deliver on both our ambitions and theirs, including broader strategic and corporate opportunities globally.”
MLC, which achieved “List A” status ahead of its 2024 season, is a leading global T20 tournament played in North America over three to four weeks during June and July, broadcast in the US via Willow TV, and in major global markets, including New Zealand.
Currently comprising six foundation franchises featuring players such as top BLACKCAPS Matt Henry, Rachin Ravindra, Finn Allen and Trent Boult, and overseas stars like Pat Cummins, Travis Head, Steve Smith, and David Miller, MLC plans to expand to eight teams by 2027 and ten by 2031.
The league also supports a robust youth cricket system and a semi-professional minor league in the US.
The yet un-named NZC-backed franchise, set to be formally announced later this year, will tap into a 25 million strong cricket fan base that is driving the sport’s rapid growth in North America, evidenced by the 2024 ICC T20 World Cup and cricket’s inclusion in the 2028 LA Olympics.
About True North Sports
TNS is set to launch an expansion Major League Cricket franchise in a major North American market in 2027. Majority-owned by MLC co-founders Sameer Mehta and Vijay Srinivasan, TNS is backed by global investors.
About Major League Cricket
Major League Cricket is the USA’s premier T20 competition, featuring world-class players and coaches. Launched in 2023, MLC has achieved “List A” status and is broadcast globally, with plans to expand to ten franchises by 2031.
Source: https://www.nzc.nz/
Scales Corporation Limited (NZX:SCL) today announced it has acquired a further 7.5% holding in subsidiary Shelby JV LLC (Shelby) for USD 24.4 million. Scales Corporation’s Managing Director, Andy Borland says “We are delighted to lift our investment in Shelby. Since the time of our initial investment in the business in 2018 we have been looking for an opportunity to increase our holding.” “Shelby’s performance has been fundamental to Scales’ success in recent years, with earnings growth since our initial investment materially exceeding expectations. We are excited by the platform that exists for further expansion through the various initiatives that have been put in place.” “We are also pleased to be able to recognise our joint venture partner, Brett Frankel, for his contribution to this success, and we are aligned in our commitment and motivation to take this business into its next phase. That phase includes refreshed commitments to the business by Shelby’s founder, including to long-term succession planning within the management team” The valuation and corresponding purchase price reflects: • The strong historical and forecast earnings growth • The improved structure of the business, which includes longer term contracts across its supply network and processing arrangements • A more diversified and robust customer base, which we are leveraging across our global business • The strategic importance of this business in realising our global single brand strategy • The positive underlying macro trends for natural protein petfood ingredients businesses, as evidenced by recent M&A transactions.
Scales Corporation Chair, Mike Petersen commented “This investment is very positive for Scales and aligns with our stated aspiration of increasing our share in the Global Proteins division’s joint ventures over time. It is very pleasing to be able to increase our presence in the US petfood ingredient market, particularly at this time. Shelby’s sales are almost exclusively to US customers and raw material supply is domestically sourced.” The transaction will be funded via USD term debt raised from Scales’ current bank partners, with post settlement gearing remaining at low levels. Settlement is on 16 April, with the earnings impact of the transaction applied to the full FY2025 year. As a result of the investment, directors advise an increase in FY2025 earnings guidance for Underlying Net Profit after Tax Attributable to Shareholders, to between $37 million and $42 million. Guidance for FY2025 Underlying Net Profit after Tax reduces to between $51.5 million and $58.5 million, whilst Underlying EBITDA guidance remains unchanged. About Scales Corporation Scales Corporation is a diversified agribusiness group. It comprises three operating divisions: Global Proteins, Horticulture and Logistics. The company’s diverse spread of activities gives Scales broad exposure to the agribusiness sector. Scales Corporation was founded in 1897 as a shipping business by George Scales. Today it has operations across New Zealand, Australia, United States and Europe. Find out more at http://www.scalescorporation.co.nz
More than 250,000 people are expected to attend the California music festival over two weekends, with a stacked line-up of acts such as Lady Gaga, Charli XCX, Travis Scott and Post Malone.
Festival-goers will now be able to sip on the brand's range of alcohol-free cocktails at The New Bar, Coachella's exclusively non-alcoholic bars.
Free AF founder Lisa King said the brand was "thrilled" to bring a taste of New Zealand's "vibrant alcohol-free culture" to one of the world's most iconic festivals.
"It's an incredible opportunity to showcase our non-alcohol cocktails to a global audience."
Interest in non-alcoholic beverages has surged in recent years, with one survey saying sales were growing by around 30% each year.
Free AF has already broken into the US market, with products stocked in major retailers such as Walmart and Target.
The brand also gained visibility earlier this year when Khloé Kardashian and Kris Jenner promoted the drinks during Dry January.
King said the non-alcoholic landscape was "evolving massively".
"More people around the world are choosing to drink less or abstain from alcohol altogether."
And it's not just the punters choosing not to drink at the festival either, she said.
"More than a dozen artists performing at Coachella this year have publicly stated they don’t drink.
"Being at Coachella marks our biggest activation of the year, aligning perfectly with our mission – to make not drinking cool AF."
Source: https://www.1news.co.nz/
A large cast and crew who filmed on location in Tāmaki Makaurau Auckland for Netflix have been praised by locals for their creativity and communication.
The four-day Auckland shoot took place in Cheltenham in late February to film part of the streaming giant’s adaptation of John Steinbeck’s classic novel, East of Eden, following filming in Ōamaru and Central Otago.
The production, which has a working title of Timshel and stars Florence Pugh and Mike Faist, saw up to 200 cast and crew on set in Cheltenham, with local streets transformed to resemble California’s Salinas Valley in the early 20th century.
Ahead of filming, the production’s Auckland-based location managers arranged to paint selected houses in era-appropriate colours, including a notable villa on Cheltenham Road, built in 1906. Its owner, John O’Toole, said in a 31 January Devonport Flagstaff article that the location team and production company had been “great to work with”.
As reported in the Flagstaff, the production company arranged and paid for landscaping and for the house to be painted yellow for filming and then back to its original colour. “I can’t complain – we’re getting our house repainted for nothing,” O’Toole said in the article.
Devonport Flagstaff shared in a follow-up story that filming saw part of Cheltenham Road and nearby streets covered with gravel, with vintage cars, horses and extras in early 20th-century costumes attracting groups of spectators. Location workers on set told the Flagstaff that locals seemed happy and excited about the production.
This was confirmed by feedback from residents that location managers shared with Screen Auckland, the region’s film office delivered by Tātaki Auckland Unlimited on behalf of Auckland Council.
Screen Auckland worked closely with the Timshel team to ensure the production process was smooth, and disruption was kept to a minimum for local residents and businesses.
Here is a selection of the feedback:
“Thanks for being creative in our community of Cheltenham. Enjoyed the cars and horses and having you around.”
“It’s been a pleasure having you all in the neighbourhood. Crew have all been great and we will miss you.”
“I and some neighbours I spoke to were impressed (and pleasantly surprised) with the activity and organisation related to filming in and around Cheltenham Road. It was clearly a massive project yet there was little disruption…and there was minimal or no noise. Everybody we spoke to or met, from the location managers to those who were on security duties, were friendly, ready to answer questions, and accommodating of onlookers. The atmosphere was friendly, very respectful and disruption minimal and communication keeping us up to date could not have been better.”
As a thank you for their help, the production company hosted residents at a wrap-event at local beachside venue, McHugh’s of Cheltenham.
Netflix is due to release its East of Eden adaptation, a seven-part limited series, in 2026. Matt Horrocks, Screen Auckland Manager, says the series will showcase Cheltenham and its historic charm to an international audience, and brings significant benefits to Tāmaki Makaurau.
https://screenauckland.com/
Tainui Group Holdings (TGH) and global alternative asset manager Brookfield Asset Management (Brookfield) have entered into a long-term joint venture (JV) to supercharge the development of Ruakura Superhub in Hamilton, New Zealand.
The JV will initially purchase four existing industrial/logistics buildings on long-term ground leases at Ruakura Superhub, which are tenanted by Kmart, Big Chill, Refrigafreighters and PBT Express.
The JV intends to develop out a further 70ha of logistics development assets at the intermodal logistics precinct with a forecast completion value of more than NZ$1 billion, and will consider further investment opportunities that present strong risk-adjusted returns.
Ruakura Superhub is in New Zealand’s major supply chain corridor, servicing around 45 per cent of New Zealand’s population, 42 per cent of the nation’s freight and 55 per cent of the country’s GDP. The site provides optimal connectivity and cost efficiencies, with a 30 hectare (ha) inland port connected via rail to New Zealand’s two largest commercial ports – Auckland Port and Port of Tauranga – and direct access to State Highway 1.
Tenants can also leverage sustainability benefits, which include the inland port facilitating cargoes off road and on to rail, a social procurement programme to create work and training opportunities for iwi members, and TGH’s track record in gaining high Green Star ratings for its buildings.
Under the terms of the JV, all whenua (land) will remain in Waikato-Tainui ownership across the full 610ha Superhub precinct. TGH will provide investment, property management and development services to the JV.
Chair of Te Arataura, the executive committee of Waikato Tainui, Tukoroirangi Morgan said:
“The new JV reflects the strength of the Maaori economy and signals that the iwi is open for global business. As an iwi our horizon is intergenerational; we are about building a legacy for future generations. Brookfield, which we selected for its aligned goals, values and fit, understands that. Together we will create real opportunities for economic growth that will reverberate for our people, Brookfield’s investors, and our city, region and country.”
Brookfield Co-Head of Australia and New Zealand Real Estate Ruban Kaneshamoorthy said:
“We are honoured to partner with TGH to further activate the major logistics and industrial precinct within Ruakura Superhub, bringing global capital at scale and unparalleled expertise as one of the world’s most active real estate investors.”
He continued: “A core pillar of our investments is to create meaningful benefit to the communities in which we operate. It is energising to invest alongside an organisation whose values are aligned with our own and where we share a drive to deliver long-term economic and social benefits such as job creation. Brookfield is a long-term investor in Aotearoa and we look forward to committing further capital to the country while working alongside local partners such as TGH. We’re encouraged by the New Zealand government’s approach to planning and infrastructure, which supports global investment in New Zealand.”
TGH Chair Hinerangi Raumati Tu’ua said:
“Our decision to partner with Brookfield is built on our experience over many years of partnering to bring in external capital, skills and networks to help us accelerate growth. Partnership is a proven strategy for TGH that has achieved success across a broad range of investments over the long term.”
She continued: “Our shared vision to invest at Ruakura Superhub will bring a suite of benefits to the Waikato and Aotearoa and in particular economic growth. TGH looks forward to a successful partnership with Brookfield and unlocking the full potential of the Superhub to deliver for our iwi over many generations.”
The Superhub has experienced strong growth over the past 30 months since its official opening in September 2022, including opening the first 12ha of the inland port and meeting high demand from national and global tenants for large, new-generation distribution centres.
The transaction is expected to close in the second quarter of 2025.
https://www.ruakura.co.nz/
New Zealand and the State of Colorado have agreed to deepen relationships and offer opportunities in aerospace, quantum and geothermal technologies and beyond, Space Minister Judith Collins says.
Ms Collins signed a Memorandum of Cooperation with Colorado State Governor Jared Polis while attending the 40th Space Symposium in Colorado Springs.
“Today marks a significant moment in the strengthening of ties between New Zealand and Colorado,” she says.
“When Mr Polis and I first met a year ago we agreed to work to strengthen our partnership to further cooperation in science and technology, including in aerospace, quantum and geothermal technologies.
“This Memorandum of Cooperation formalises that we’re on the same page when it comes to the things that will drive economic growth, including research and development, company exchanges, regional technology hubs and innovation ecosystems that advance strategic industries,” Ms Collins says.
The Memorandum of Cooperation encourages increased collaboration between New Zealand and the State of Colorado across multiple areas including:
Ms Collins says the agreement encourages engagement, and will deepen New Zealand’s commercial relationships as well as establishing links to develop new ones.
“Increasing collaboration will be a win-win for those looking to invest in New Zealand companies or start-ups, and the same applies for those looking to invest in opportunities in Colorado,” Ms Collins says.
The Memorandum of Cooperation can be found on the MBIE website.
Notes to editors:
New Zealand–Colorado Collaboration
https://www.beehive.govt.nz/
The Coalition Government today released a multi-billion dollar plan for a modern, combat-capable New Zealand Defence Force (NZDF) that pulls its weight internationally and domestically.
“Global tensions are increasing rapidly, and New Zealand has stepped up on the world stage, but our current Defence spending is simply too low,” Prime Minister Christopher Luxon says.
“This new Defence Capability Plan contains $12 billion of funding over the next four years, which includes $9 billion of new spending. This will raise New Zealand’s defence spending from just over one per cent of GDP to more than two per cent in the next eight years.
“This blueprint has been designed with a 15-year horizon but deliberately focuses on critical investments needed in the next four years to ensure our Defence Force can adapt as the world around us changes.
“The Government has committed to reviewing the plan every two years. Put simply, this is the floor, not the ceiling, of funding for our Defence Force.
“I want to acknowledge our coalition partners, New Zealand First and ACT, for their unwavering support in advancing this plan – and note New Zealand First previously drove the procurement of our new P-8A and Hercules aircraft.”
Defence Minister Judith Collins says the world is inherently more dangerous and our personnel are at the frontline of New Zealand’s security.
“They cannot do their jobs without the right equipment and conditions.
“This plan outlines what resources, equipment and support we need to modernise the NZDF to operate now and in the future,” Ms Collins says.
The 2025 Defence Capability Plan outlines indicative investments to ensure the NZDF is:
Combat capable with enhanced lethality and deterrent effect: This includes increased strike capabilities which will increase our ability to deter actions counter to New Zealand’s interests.
A force multiplier with Australia and interoperable with partners: New Zealand and Australia have committed to modernise our alliance and further strengthen our bilateral defence relationship, including the development of a more greatly integrated “Anzac” force.
Innovative and has improved situational awareness: Innovation in this plan covers new ways of doing things, as well as exploring new technologies for the NZDF such as uncrewed vehicles, new space technologies, and increased funding for Defence Science & Technology.
Ms Collins says the men and women of the NZDF have endured 35 years of cuts and underfunding.
“They join up to serve the people of New Zealand, however that is needed, and we feel immense pride and gratitude when we see them stepping up and into situations that the rest of us are running from,” Ms Collins says.
“But the way they were used for a prolonged period of time to patrol Managed Isolation Facilities during Covid led to many experienced personnel – those with 10-15 years’ experience – leaving for other career options.
“That has left us with a hollowed-out middle in our personnel, and this plan allows us to address that. Already our attrition has fallen from 15.8 percent in December 2022 to 7.5 percent in February 2025 – but we know we need to rebuild the core of the NZDF so we can fully utilise the ships, aircraft, vehicles and weapons we already have, while looking to what is needed in the future.
“Our personnel are expected to be called upon more often, in more places, and for longer. For this, they must be equipped and trained for a range of operations, to be more combat capable and able to deter actions adverse to our interests while also being ready to provide essential humanitarian assistance and disaster relief.
“This plan does that. It gets our NZDF out of the intensive care unit and not just growing but growing where we need it to.”
Note to editors:
Defence Capability Plan 2025 is the Government’s plan to rebuild the NZDF and prepare for an increasingly volatile world.
Major investments 2025-2028:
Enhanced strike capabilities
Frigate sustainment programme
Persistent surveillance (uncrewed autonomous vessels)
Replacing the maritime helicopters
Javelin anti-tank missile upgrade
Network Enabled Army
Special Operations sustainment
Vehicles for the NZDF
Counter uncrewed aerial systems (UAS)
Long-range remotely piloted aircraft
Replacing the Boeing 757 fleet
Space capabilities
Enhancing cyber security capabilities
Enterprise resource planning
Improved intelligence functions
Updating classified digital services
Accommodation, messing, and dining modernisation
Defence estate regeneration
Defence housing programme
Future Devonport naval base design
Ohakea infrastructure programme
Defence, Science & Technology uplift
Technology Accelerator
Information management
Digital modernisation
Logistics resilience
Consolidated Logistics Project infrastructure
Implementing a workforce strategy
For the full list of indicative investments over the next 15 years, refer to the 2025 Defence Capability Plan.
GDP measure: To allow for international comparison we have aligned our forecast calculation to Stockholm International Peace Research Institute (SIPRI) reporting, as recommended by The Treasury.
The attached graph shows New Zealand’s historic spend profile on Defence, as a percentage of GDP, and the forecast spend as a result of this Defence Capability Plan. The uplift in spending shown in the graph between 2018 and 2021 reflect the investment made in the P-8A Poseidon and C-130J-30 Hercules aircraft.
Source: https://www.beehive.govt.nz/
