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Source: NZ Green Investment Finance

New Zealand Green Investment Finance has announced a strategic equity investment in Thinxtra The IoT Telco, a leading Internet of Things (IoT) network and service provider operating an established network across New Zealand, Australia and Hong Kong.
Thinxtra’s technology supports firms to improve efficiency and asset utilisation, with clear carbon benefits.
“We believe that the Internet of Things provides an innovative and significant opportunity to reduce carbon emissions, and through this investment we are supporting a dynamic market leader to grow their New Zealand presence,” New Zealand Green Investment Finance Chief Executive Craig Weise said today.
“NZGIF’s investment will allow Thinxtra to accelerate the deployment of its technology to enable firms to both reduce their emissions and save money”.
Thinxtra built, owns and supports the 0G Network, powered by Sigfox technology, which is low-cost, resilient and capable of supporting high volumes of connected devices, using very little energy to run. These devices allow companies to, for example, use less power, travel less and save carbon.
NZGIF’s financial commitment to Thinxtra forms part of the company’s latest funding round, led by Adcock Private Equity alongside other investors.
Bryan Mogridge ONZM, Thinxtra chairman, says, “NZGIF’s investment enables Thinxtra to expand its local presence and help accelerate local business’ ability to achieve efficiencies and carbon savings using IoT. We’re energised by the opportunity to help New Zealand companies embrace more remote business practices and digitalisation, and use less energy, particularly as the local economy looks to recovery efforts in the wake of Covid-19.”
Loic Barancourt, CEO of Thinxtra, says, “Headquartered in Auckland, Thinxtra NZ has developed excellent relationships with the New Zealand business community. We’re proud to provide 94 per cent network coverage of New Zealand, and to offer a broad range of solutions locally, including the Predator Free New Zealand 2050 programme. With the backing of NZGIF, we’re looking forward to investing even more in our local presence to accelerate the adoption of IoT solutions in New Zealand.”
Since its inception in 2015, Thinxtra has built relationships with a range of partners, creating fit-for-purpose, low-cost solutions that are fast and easy to install and maintain.
Thinxtra works with many New Zealand-based companies to support their initiatives, including: Tetherme, which enables efficient and healthy living, learning and work environments; Blackhawk, which builds software solutions for asset tracking and management; and Kordia, the New Zealand government-owned broadcast and telecommunications company.
“On the global stage, New Zealand has shown leadership by taking progressive action to prepare for a cleaner, more sustainable future. We’re delighted to have NZGIF onboard, bringing capital, extensive experience in the local market and a commitment to reducing emissions for a lower carbon future that matches our own,” concludes Barancourt. 
More about New Zealand Green Investment Finance
New Zealand Green Investment Finance is a green investment bank established by the Crown to accelerate investment that reduces greenhouse gas emissions in New Zealand.
Today’s announcement from NZGIF is the second in a series of investments planned for 2020, as the green investment bank continues to accelerate investment to reduce emissions.
More about Thinxtra
Thinxtra is an Internet of Things (‘IoT’) network and service provider, operating an established low-power, wide-area network across Australia, New Zealand and Hong Kong.
Thinxtra is the owner and operator of the public Sigfox 0G LPWAN Network, and the exclusive distributor of Soracom 3G/4G Cellular IoT services.
Thinxtra, the IoT Telco, accelerates business efficiency by connecting assets and making them work smarter. With its partners, Thinxtra delivers fit-for-purpose Internet of Things device-to-cloud solutions in Australia, New Zealand, Hong Kong. Thinxtra is passionate about contributing to a profitable and sustainable future through large-scale operational efficiencies. Its customers benefit from new business models, better customer experiences and higher asset utilisation.
Frequently Asked Questions
What is NZGIF?
New Zealand Green Investment Finance (NZGIF) is a green investment bank established by the Crown to accelerate investment that reduces greenhouse gas emissions. Set up with initial capital of NZD$100 million, NZGIF is an independent limited liability company.
What is the Internet of Things?
The ‘Internet of Things’ refers to the interconnectedness of computing devices embedded in everyday objects, enabling them to send, receive and share data. IoT has the potential to significantly change business operations (and day to day life), with industry analysts forecasting the total number of connected devices to grow to 43 billion by 2023 [1].
How does this reduce emissions?
Mainly through energy efficiency and asset optimisation. By providing a low-cost solution for the mass deployment of asset and energy management technologies, we can significantly reduce emissions.
IoT technology involves interconnected devices, which are attached to assets, sending and receiving data about location information or environmental conditions such as temperature. The nature of Thinxtra’s network and technology enables monitoring using sensors. This allows firms to check on equipment without having to send a person in a vehicle to do it manually, saving time, cost and, crucially, the carbon from fuel use.
Using IoT can also assist in making buildings and homes more energy efficient, allowing energy monitoring and better energy performance.
How is Thinxtra’s low power 0G network different from networks such as 3G, 4G and 5G?
Lower power technology supports the longest battery life for simple devices. By utilising a network that requires minimal power, Thinxtra can deploy high volumes of devices highly efficiently because it doesn’t send as much data as the 3,4 and 5G networks. Thinxtra offers fit-for-purpose network choices from 0G to 4G to meet specific customer needs.
Is this investment conditional on Thinxtra proving emissions reductions?
NZGIF is investing in this company because it’s clear that in a range of different applications, this technology fundamentally enables the more efficient use of vehicles, buildings and other assets.
What kind of companies could benefit from Thinxtra’s services?
Thinxtra has identified its priority sectors – they are agriculture, transport, logistics, utilities, cities and buildings. The companies that could benefit most from Thinxtra’s technology options are companies with multiple assets or a high volume of assets to track – they ask the questions “where are you?” and “how do you feel?”
What are the advantages of Thinxtra’s network?
Thinxtra has built a public network that is readily available – customers don’t need to build and maintain their own network technology or infrastructure. This means reduced complexity, speed to market, low risk and high service levels and performance. With batteries that last up to eight years, devices on Thinxtra’s 0G network offer longevity and reduced operational costs, making it a cost-effective solution.
One example is the NZ Predator Free Programme. For Predator Control Projects, the primary use case is remote monitoring of pest traps, which means traditional scheduled checks in remote areas can be made much more efficient, as the smart trap itself can trigger a check only as and when a predator has been captured. The same 0G Network can be used to provide better insights into assets in the area, geolocation and safety of people (rangers and volunteers) and the overall health of the environment.
What is a green investment bank?
Around the world, green investment banks have been established to catalyse private investment in domestic low emissions and other environmental projects. Green investment banks are generally initially capitalized by governments but operate independently in the market to mobilise private investment.
What makes NZGIF different to other investors?
NZGIF has a specific focus on accelerating the reduction of emissions that lead to climate change, and to demonstrate to other investors that this can be achieved on a commercial basis.
What industries is NZGIF most interested in?
NZGIF is primarily interested in sectors that have the potential to achieve significant greenhouse gas reductions in the short term such as logistics and transport, building energy efficiency, process heat in manufacturing, and agriculture.
We are focused on facilitating the adoption of proven technologies, and on investments that can scale up.
How does NZGIF decide to invest in a company or project?
NZGIF operates, as any other investment firm would, with robust technical and financial analysis, due diligence and an established investment approvals process.
[1] Growing Opportunities in the Internet of Things, McKinsey & Company