Trust Horizon continues high impact focus with investments totalling $9.5million
In 2020, Trust Horizon announced a shift in focus towards high-impact investing to create lasting and measurable benefits in our local communities. As part of this ongoing focus, the Trust has made three recent investments, each intended to help build and transform the region’s industries.
One such investment is in a leading solar energy company, Lodestone Energy. As part of an Impact Syndicate, alongside Purpose Capital and other key New Zealand investors, Trust Horizon has invested $5 million to support the development of five solar farms – two of which will be located in the Eastern Bay of Plenty.
“The construction and ongoing maintenance of the EBOP farms is expected to create hundreds of construction jobs, steady operations employment and, with over $100 million in construction costs, they will help support the local economy,” says Gary Holden, Lodestone Energy Chief Executive. “With the support of the Trust, there will be long-term opportunities to explore community solar options, where locals can enjoy the benefits of purchasing from these renewable energy resources in their own backyard.”
The investment is forecast to achieve a strong financial return, and aims to be a catalyst for solar development throughout the Eastern Bay – helping the region achieve its plans to be carbon neutral by 2030. “The investment in Lodestone is a great example of how the Trust’s capital can be used to create transformational local industries, improve environmental outcomes for the region, and achieve good returns,” says Derek Caudwell, Trust Horizon Chief Executive.
Trust Horizon has also continued their support of Whakatōhea Mussels Ōpōtiki Ltd, winners of the local Business Excellence - Supreme Business of the Year Award. The company recently undertook a $6 million capital raise, to further its success in establishing a world-class open ocean mussel farm. Building on the 2020 investment of $1.5 million, the Trust is this year increasing its investment to a total of $2.5 million.
“The Trust’s investment is helping create local jobs and produce high quality low-carbon seafood-based protein,” says Whakatōhea Mussels Chief Executive, Peter Vitasovich. “It’s making sure we can continue to develop a broad and world-class aquaculture industry from right here in the Eastern Bay.”
In their third significant recent investment, the Trust has acquired 17 Pyne Street (known as Concordia House) to be transformed into the new long-term head office for Horizon Energy Group (HEG), the Trust’s cornerstone investment. The purchase will generate consistent returns for Trust Horizon, as well as support HEG’s local expansion and development.
“The building will be undergoing significant upgrades before we relocate,” says HEG CEO, Ajay Anand. “The improvements will help create a high-quality and environmentally sustainable building, that will not only provide a much-improved working environment for staff but also reflects the Group’s commitment to reduce its carbon footprint.”
For the Trust, these three investments are a tangible reflection of the new strategic direction and demonstrate the Trust’s ability to create impact through its investment choices. “Trust Horizon has an ongoing commitment to high-impact investing in projects that will bring lasting positive change to the Eastern Bay and its communities,” says Trust Horizon Chairman, David Glover.
Find out more about how Trust Horizon is investing more into a sustainable energy and low emissions future.