New Zealand

New Zealand

Wind turbine manufacturer to start operations

The nail-biting is over for New Zealand's Windflow Technology. Its share offer closed above the level required for the nascent wind turbine manufacturer to start operations. Some 450 investors put up NZ$2.5 million in a share offering which initially stuttered, but which now has the legs to design, test and operate the technology patented by Windflow boss Geoff Henderson. He hopes to have the first Windflow turbine running within a year and is looking to produce another ten the year after. Henderson expects to source the bulk of the equipment from within Australasia. "Thanks to our many supporters, we are on the way to establishing wind power as a major local industry," says Henderson. He anticipates 300 local jobs within five years.

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